RBI announces a central portal to track unclaimed deposits

RBI announces a central portal to track unclaimed deposits

The Reserve Bank of India (RBI) Governor Shaktikanta Das, who amazed all of us via way of means of protecting hobby rates, on April 6 additionally introduced a centralised net portal for the general public to look unclaimed deposits.

"At present, the depositors and beneficiaries of unclaimed financial institution deposits of 10 years or greater must undergo the internet site of a couple of banks to discover such deposits. Now, so one can enhance and widen the get admission to of depositors or beneficiaries to facts on such unclaimed deposits it's been determined to broaden an internet portal. This will assist depositors or beneficiaries to get their deposits back, " Das stated even as sharing the final results of the primary economic coverage commitee assembly of the monetary years 2023-24.

Recently, unclaimed deposits with banks fell to Rs 35,012 crore from Rs 48,262 crore a 12 months ago, records made to be had via way of means of the authorities shows.

The overall quantity of unclaimed deposits transferred to the Reserve Bank of India (RBI) via way of means of public area banks (PSBs) in recognize of deposits no operated for 10 years or greater changed into Rs 35,012 crore until February 2023 as in opposition to Rs 48,262 in March 2022, minister of nation for finance Bhagwat Karad stated in a written respond to Parliament.

An unclaimed deposit is an account that doesn't see any infusion or withdrawal of price range or comparable sports via way of means of a depositor for 10 years or greater and is deemed inactive.


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