The Male’ branch of the State Bank of India (SBI) has disclosed information related to 253 dormant accounts at the bank.
According to the SBI, the accounts had not been used for more than five years. It is the policy of SBI to declare such accounts unused for five years as dormant accounts. It is because the accounts had not been used for any activity during this period.
SBI requested any customers who may have dormant accounts at the SBI to inform the bank.
The owners of the accounts declared as dormant would be informed via documents and if no response is received, the money in these accounts would be handed over to the central bank MMA by June 1.