Mahalaxmi Bikas Bank Urges Customers to Reactivate Dormant Accounts and Update KYC
9th July 2026, Kathmandu
Mahalaxmi Bikas Bank Limited has issued an important public notice targeting its retail account holders nationwide.
Mahalaxmi Bank Dormant Accounts
The development bank is urging clients to regularize long-term dormant accounts and complete their mandatory Know Your Customer updates immediately.
The corporate directive aims to align the bank’s active consumer ledgers with the strict anti-money laundering frameworks enforced across the national financial sector. Executive management noted that keeping accounting histories updated is vital to ensuring completely uninterrupted banking services for everyday retail users.
Inactive Operational Profiles and Branch Reactivation Steps
The financial organization stated that a substantial number of retail customers have not conducted any financial transactions through their deposit accounts for a prolonged timeframe. This extended phase of account inactivity has caused the core banking system to automatically classify those specific profiles as dormant assets.
To fix these operational blockages, affected customers are requested to complete formal reactivation steps as soon as possible. Account operators must personally visit either the original base branch where the ledger was initially established or any nearby branch office to submit a physical account revival request.
Legal Mandates for Unclaimed Twenty-Year Deposits
The official notice outlines strict statutory timelines regarding long-term unclaimed capital reserves. Retail deposit accounts that have remained completely inactive for 20 years or more without any valid customer transaction or formal asset claim will face specialized institutional handling.
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These long-dormant funds may be processed in accordance with Section 109(6) of the Bank and Financial Institutions Act 2073 alongside relevant guidelines written into the Nepal Rastra Bank Unified Directives. The central monetary authority mandates strict tracking procedures for aged funds to maintain transparency within the broader national banking architecture.
Mandatory Compliance with Central Bank Unified Directives
In addition to handling inactive ledgers, the institution has requested all consumers with outdated profile records to finalize their missing KYC details. Account holders who have experienced changes in their vital personal data, including their permanent residential addresses, mobile contact details, or active profession choices, are advised to file an update.
The validation rule applies to all active account holders, including corporate clients who regularly utilize daily clearing and digital transaction networks. The processing desk requires valid identity attachments, such as citizen verification cards, recent photographs, and official corporate registration papers, to clear the background checks.
Penalties for Compliance Failure and Service Access
Mahalaxmi Bikas Bank Limited warned that it may be legally forced to enforce administrative suspensions or absolute closures on unverified accounts. This strict corporate action will take effect if account holders fail to submit their missing information within the given notice windows.
The development bank operates an extensive branch network across urban and rural corridors, providing digital checking, micro-credit lines, and remittance processing. The executive board has therefore urged all individual and institutional clients to execute their file updates at the earliest opportunity to prevent future transaction rejections or retail account blockages.
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