Reserve Bank Of India: Many big steps are taken from time to time by the Ministry of Finance and the Reserve Bank (RBI News) regarding the banks. At present, crores of rupees are lying in the banks, which no one is going to take.
The Reserve Bank of India (RBI) said that in every district of the country, the bank will conduct a special drive for 100 days to settle the top 100 accounts with unclaimed deposits. RBI said in a statement that this campaign of banks will start from June 1, 2023.
Campaign will be run for 100 days
The amount lying dormant in bank accounts for 10 years is called unclaimed deposit. Banks transfer these accounts to the ‘Depositor Education and Awareness Fund’ of the Reserve Bank if they remain unclaimed for a long time. All banks will identify 100 lead accounts in each district of the country for settlement of such accounts. This campaign will run for 100 days.
Announcement to make portal
RBI had also recently announced to make a centralized portal for settlement of unclaimed deposits. Public sector banks had transferred an unclaimed amount of about Rs 35,000 crore to the Reserve Bank till February 2023. This amount was deposited in those accounts in which there was no transaction for 10 years or more. The unclaimed amount was linked to 10.24 crore accounts.
What is unclaimed amount
According to information, this amount belongs to those people who have failed to close their current or savings accounts or have failed to inform banks to encash matured FDs. Deceased depositors whose nominees or legal heirs have failed to file a claim against the bank or banks. The amount of such people is kept in the banks like this only.
RBI had given this information earlier also
RBI had said last month that a centralized portal related to this would be prepared in three-four months. With this, depositors and beneficiaries can get information about unclaimed deposits lying in different banks. The 27th meeting of FSDC was attended by all financial sector regulators including RBI Governor Shaktikanta Das. This was the first meeting of the FSDC after the presentation of the budget for 2023-24.
