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Unclaimed Money in India: Reserve Bank of India is going to start ‘100 Days 100 Pays’ campaign. Through this, the RBI has ordered the banks to identify 100 unclaimed accounts in every bank in every district of India within 100 days as soon as possible and asked them to return their money to its rightful owner. Is. It is worth noting that this campaign will be started from June 1, 2023. If your or any family member’s money is lying unclaimed in the bank account then there is no need to worry. You can easily claim the unclaimed amount deposited in the savings account or FD account. Let’s know about it-
What is unclaimed amount?
If a savings or FD account is not used for more than 10 years, then the bank considers such an account as an inactive deposit. The bank gets these money deposited in the fund deposited in DEA i.e. Depositor Education and Awareness. This fund is operated by the Reserve Bank.
Take these steps to save money from becoming unclaimed amount in the account-
- If you also want to save the amount deposited in your account from being unclaimed, then it is necessary to take some necessary steps.
- First of all, keep in mind that add the name of a nominee in your account.
- Along with this, inform all the members of your family about your bank, share and mutual fund investments.
- Along with this, definitely update KYC in all accounts. With this, the bank keeps getting information about the customers.
- If you are not using any account, then get it closed immediately.
- Along with this, keep the slip of all your FD account safe so that you can know the maturity date of FD.
How to claim unclaimed amount?
According to the rules of the Reserve Bank, every bank will have to provide the facility to the customers to know the status of the unclaimed amount on their website. First of all visit the official website of any bank and go to the bank after getting all the information like IFSC code of the account etc. Go there and fill a form and complete KYC. After this, you will get the amount deposited in the bank account.
How can the nominee claim the unclaimed amount?
If you are a nominee and want to claim the unclaimed amount deposited in your account, then first you have to show your ID proof. Along with this, documents like death certificate of the account holder will also have to be shown. After this, you have to go to the bank again and fill the form. The bank will verify its claims and after that will give the unclaimed amount to the nominee. According to the news of PTI, the country’s largest bank SBI has an unclaimed amount of Rs 8,086 crore. 5,340 crore in PMB, Rs 4,558 crore in Canara Bank and Rs 3,904 crore in Bank of Baroda are lying unclaimed.
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