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Unified Portal for Unclaimed Deposits: The Reserve Bank of India took several important decisions in the meeting held on Thursday. It also includes the decision taken regarding unclaimed deposits lying in banks (RBI to Develop Unified Portal for Unclaimed Deposits). RBI announced on Thursday that it will launch a unified portal for unclaimed deposits in banks. It is to be noted that there are large number of such accounts in banks in which no transaction has taken place for years. According to the data till February 2023, a total of Rs 35,000 crore is deposited in public sector banks, in whose accounts there has been no transaction in the last 10 years.
A web portal will be started
On Thursday, RBI Governor Shaktikanta Das announced the results of the first monetary review meeting (RBI MPC Meeting) of the current financial year. In this, the RBI governor talked about creating a portal for unclaimed deposits in banks. He said that there is a need to make some reforms to increase the access of customers to the banks. For this, a portal will be created for unclaimed deposit amount. Through this portal, the unclaimed amount lying in different banks can be easily ascertained.
Banks have unclaimed deposits of Rs 35,012 crore
In a written reply to the Minister of State for Finance Bhagwat Karad in the Lok Sabha, it was said that till February 2023, a total of Rs 35,012 crore is deposited in different public sector banks of the country which have no claimants. In this, the maximum amount is deposited in State Bank of India. A total of Rs 8,086 crore unclaimed amount is deposited in SBI. On the second number, a total amount of Rs 5,340 crore is deposited in Punjab National Bank. At the same time, a total unclaimed deposit amount of Rs 4,558 crore is deposited in Canara Bank.
What happens to the unclaimed amount?
According to the rules of the Reserve Bank, if the amount deposited in a savings or current account is not operated for 10 years or it is not claimed even after 10 years of maturity of an FD, then it is called unclaimed amount. Such amount is transferred to the ‘Depositor Education and Awareness Fund’ created by RBI.
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