Suspense Crime Sach Ka Dam
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Unclaimed Deposits: There is going to be a big change in savings and current accounts from June 1. This change will be related to unclaimed deposits. For this, RBI has started 100 days 100 campaign. Banks have to dispose of these deposits within this time limit.
As per RBI guidelines, if the balance in savings and current account remains unmanaged for 10 years or unclaimed within 10 years from the date of maturity, it will be treated as unclaimed deposit. According to the guidelines, banks have to settle it from June 1.
A web portal has been launched by RBI
This amount is transferred by the banks to the Depositor Education and Awareness (DEA) Fund created under the RBI. Recently RBI launched web portal to trace unclaimed deposits in many banks. In April 2023, the RBI said to return existing unclaimed deposits to their rightful owners keeping in mind the safety of depositors’ money. For this reason, RBI has recently decided to create a web portal to track unclaimed deposits in some banks. RBI Deputy Governor Rajeswara Rao had said in April that the web portal for unclaimed deposits is expected to be ready in three to four months.
Campaign 1 june , 2023 will start from
Subsequently, on 12 May, the RBI announced the ‘100 Din 100 Pay’ campaign to trace these unclaimed deposits. Under this, every bank in every district of the country has to dispose of 100 unclaimed deposits within 100 days. Banks have been instructed to start this campaign from June 1, 2023. RBI periodically undertakes awareness campaigns to identify and contact the concerned banks to claim such unclaimed deposits.
According to the information, this amount belongs to those who failed to close their current or savings accounts or failed to inform banks to encash matured FDs. Deceased depositors whose nominees or legal heirs have failed to file suit against the bank or banks. The money of such people is kept in banks.
RBI had said last month that a central portal related to this would be ready in three-four months. With this, depositors and beneficiaries can get information about unclaimed deposits lying in various banks. The 27th FSDC meeting was attended by all financial sector regulators including RBI Governor Shaktikanta Das. for 2023-24 Budget This was the first meeting of the FSDC after it was introduced.
