Quick Summary
As per information received from the Reserve Bank of India (RBI),the total amount of unclaimed deposits of Scheduled Commercial Banks (SCBs) was Rs. 24,356 crore, as on 31.12.2020. The bank-wise details are atAnnex.This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a
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FAQ :
As of 31st December 2020, Scheduled Commercial Banks (SCBs) held Rs 24,356 crore in unclaimed deposits.
Yes, unclaimed deposits increased by Rs 5,977 crore in the year 2020 compared to 2019.
The RBI has advised banks to play a more proactive role in finding the whereabouts of accountholders of unclaimed deposits and has framed the Depositor Education and Awareness Fund Scheme, 2014.
The Fund is utilized for the promotion of depositors' interests and for other necessary purposes specified by the RBI.
The Union Minister of State for Finance, Dr Bhagwat Kisanrao Karad, stated this information in the Rajya Sabha.
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