Date:02/11/2009 URL: http://www.thehindubusinessline.com/2009/11/02/stories/2009110250511000.htm

Back RBI fiat on operative accounts

Mumbai, Nov. 1

Banks should treat accounts as operative accounts in cases where the customer has asked the bank to credit interest on fixed deposit accounts to the savings bank account. The Reserve Bank of India, in a notification, has clarified that these accounts should not be treated as inoperative after two years.

— Our Bureau