Question { ICICI, 63055 }
Explain the difference between inactive account and dormant
account?
Answer
In case of Inactive Account,the account has infrequent
deposits or withdrawals. If no activity is recorded for a
specified period say(6 months), other than crediting of
interest, it is considered a Dormant Account and is not
considered as active accounts
Whereas in case of Dormant account,a savings account showing
no activity (other than posting interest) for some specified
period.