Скачать или смотреть Dormant Bank Account | Meaning in Nepali |

Dormant Account is a Bank Account that has not had any transactions (Deposits or Withdrawals) for a long period of time, usually 12-24 months. In Nepal, the Nepal Rastra Bank (NRB) has issued guidelines to banks to classify accounts as dormant.

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1. Reasons for an account to become dormant

• Lack of transactions : There are no deposits or withdrawals for a long period of time.
• Inactivity of the account holder : The account holder may have forgotten about the account or may not have used it for a long time.
• Change in the status of the account holder : The account holder may have died, or their account may have been frozen due to legal issues.

2. Why IPO applications are rejected due to dormant accounts

• Invalid account status : A dormant account is not considered a valid account for IPO applications.
• Risk of non-payment : The IPO issuer may not receive payment from the dormant account, which may lead to rejection.
• Compliance Issues : IPO issuers must comply with regulatory requirements, which include verifying the validity of applicants’ bank accounts.

3.How to Activate a Dormant Account

• Visit the Bank : Visit the bank where the account is held and request to reactivate the account.
• Provide the Required Documents : Submit identification documents, proof of address, and other required documents.
• Update Account Information : Ensure that the account information is updated, including the account holder’s name, address, and contact details.

4.Preventing Account Inactivity

• Check Account Details Regularly : Monitor account activity to ensure that the account remains active.
• Transact Regularly : Make regular deposits or withdrawals to keep the account active.
• Update Account Information : Keep account information up-to-date to avoid account inactivity.

By understanding the causes of account inactivity and taking steps to prevent it, you can avoid IPO application rejections caused by inactive accounts.

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   • Dormant Bank Account | Meaning in Nepali |  

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