PERSONAL FINANCE
Unclaimed bank deposits: Recently, the RBI also announced the setting up of a Centralised Web portal for public to search unclaimed deposits across multiple banks.
The Reserve Bank of India (RBI) recently launched a campaign for the return of unclaimed deposits in bank accounts to the rightful owner or claimants. The campaign called ‘100 days 100 pays’ will commence from June 1, 2023.
“The Reserve Bank of India announced a ‘100 Days 100 Pays’ campaign for banks to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days,” the central bank said in a statement. Recently, the RBI also announced the setting up of a Centralised Web portal for public to search unclaimed deposits across multiple banks.
What are unclaimed deposits?
Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as 'unclaimed deposits'. These amounts are transferred by banks to “Depositor Education and Awareness” (DEA) Fund maintained by the Reserve Bank of India.
The RBI urged the public to locate and contact the relevant bank for claiming these deposits. This measure, the RBI said, will complement the ongoing efforts and initiatives by the Reserve Bank to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners/claimants. At present, the depositors or beneficiaries of unclaimed bank deposits of 10 years or more have to go through the websites of multiple banks to locate such deposits.
READ | Rs 2000 out of circulation: Here's what you must do next, step-by-step guide
The Reserve Bank, through its public awareness initiatives, has been encouraging members of public to identify and approach the bank concerned for claiming such deposits. According to the government, the total of unclaimed deposits transferred to the RBI by the public sector banks as on February 2023 was Rs 35,012 crore.
Raima Sen mourns Bharat Dev Varma's demise, pens emotional note for 'great father, great husband'
DNA TV Show: Ahead of Maharashtra poll results, MVA, Mahayuti engage in resort politics
Maharashtra: Stage set for assembly poll results; Mahayuti, MVA confident of their victories
All set for vote counting in Jharkhand tomorrow; NDA, JMM-led alliances confident of winning
Watch: Australia star inquires Rishabh Pant about his next IPL team, gets 2-word reply
Shah Rukh Khan’s house Mannat was first offered to his industry rival…, but he refused because...
The Visionary Who Promises a Blue Sky for India: Holger Thorsten Schubart’s G20 Climate Speech
The Surge of High-End Living: Luxury Residential Market to Outpace Other Segments
FeFCon 2024 to be Held in Bangalore: A Premier Event on Fever Management
'That’s wild': Noida man turns cigarette butts into teddy bears in viral video, watch
London Airport evacuates passengers over security threat, thousands stranded
The World’s First Innovative Iron Supplement to Combat Iron Deficiency and Anaemia
Meet grandmother who became fashion icon after trying on her granddaughter’s clothes
IND vs AUS: Rishabh Pant joins Virat Kohli, Rohit Sharma in elite WTC list, becomes 3rd Indian to...
'All scripted drama...': Puneet Superstar allegedly assaulted by influencers in viral video, watch
Actress Ana de Armas caught kissing Cuban President Miguel Díaz-Canel’s son in viral photos
Oreshnik's Shadow: Will Russia's hypersonic missile force west to back down?
‘You’re So Beautiful’: World’s tallest woman meets world’s shortest woman over tea, pics go viral
Delhi-NCR Air Pollution: Consequences of GRAP-4 are drastic, may have adverse effects, says SC
Delhi-NCR Air Pollution: Schools likely to stay closed till..., check city-wise update
Maharashtra: 3 killed, 9 hospitalised after gas leak at fertiliser plant in Sangli
THIS farm is selling a cup of coffee for Rs 28000, but there's a twist, it is...
Chhattisgarh: 10 Maoists killed after encounter with security personnel in Sukma
Mukesh Ambani's SUPERHIT plan for Jio users, offers unlimited 5G access for 1 year for just Rs...
IND vs AUS 1st Test: KL Rahul's dismissal sparks DRS controversy in Perth Test
Dense fog, heavy rain predicted in these states till November 25; check here
Oreshnik Hypersonic Missile: Which nations are within its range?
Bihar teacher, principal reach school in drunken state; know what happened next
'I have faced a lot of...': Arjun Kapoor REVEALS his biggest fear amid break up with Malaika Arora
How millions of Indians may get affected due to US indictment of Gautam Adani in bribery case
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says 'missing someone is okay but...'
After Bibles, watches and sneakers, Donald Trump is now selling autographed guitars, price is...
Delhi pollution: Air quality improves to ‘very poor’ category, AQI at...
Vladimir Putin's BIG threat, warns he could strike UK with new ballistic missile if...
Shillong Teer Results TODAY November 22, 2024 Live Updates: Check winning numbers here
Somebody misbehaved with Alia Bhatt on Highway sets then Imtiaz Ali had to...
Zomato CEO Deepinder Goyal reveals twist behind Rs 200000 job fee, closes application window
Days after Ratan Tata's demise, Tata Group's Rs 131000 crore company inks pact with ADB for...