INDIAN BANKS REPORTED ₹35,012 CRORES OF UNCLAIMED MONEY DEPOSITS, TRANSFERRED TO RBI: GOVT.
As of February 2023, public sector banks in India had handed about 35,000 crore in unclaimed deposits to the RBI (Reserve Bank of India), according to information provided in parliament.
The unclaimed money deposits belongs to 10.24 crore account people who were not used more than 10 years.
This infomartion was said by our Finance Minister of state “ Bhagwat Karad” in Lok sabha parliament.
According to data, the most unclaimed deposits of
8,086 crore at SBI (STATE BANK OF INDIA)
PUNJAB NATIONAL BANK at 5,340 crore
CANARA BANK at 4,558 crore
BANK OF BARODA at 3,904 crore.
The Minister said, Settlement of account are taken on priority by SBI.
The response stated that SBI branches accept all applications for account settlement.
Banks have been advised to launch a special drive to local customers whose accounts are inactive.(where there are no transactions for 2 years)
Foremostly, He said bank are required to display list of unclaimed deposits or which are inactive accounts for 10 years or more on their werbsites.
The list containing names and address of the account holder should be mentioned .