Unclaimed Deposits: RBI has started a ‘100 Days 100 Payments’ campaign to reach the unclaimed amount to the customers. Let’s know about this campaign.
Unclaimed Deposits: Crores of rupees were lying in the banks in such a way that there is no claimant. In such a situation, Finance Minister Nirmala Sitharaman recently asked all the financial regulators to run a campaign in the meeting of the Financial Stability and Development Council. After this, the Reserve Bank of India has launched a special campaign for the unclaimed amount lying in the banks. Its name is ‘100 days 100 payments’. Through this program, RBI will get the information about the unclaimed money of the customers and send it to the customer.
RBI launched special program
Giving information about the campaign of 100 days 100 payments, the Reserve Bank of India said that within 100 days, 100 unclaimed accounts will be identified in every bank in every district of India and the money will be returned after tracing its owner. . Through this, the central bank is trying to settle the unclaimed amount lying in the banking system as soon as possible. The only objective of this campaign is to reach the rightful owners of their accumulated capital through this.
What is unclaimed amount?
Significantly, the unclaimed amount is called the account in which no transaction has been done for 10 years or more. The amount deposited in such an account is considered as an inactive deposit. According to RBI, in the financial year 2021-22, the unclaimed amount in banks has reached Rs 48,262 crore. Whereas in the financial year 2020-21, this amount was Rs 39,264 crore. According to RBI data, the maximum unclaimed deposits are deposited in banks of Tamil Nadu, Punjab, Gujarat, Maharashtra, Bengal, Karnataka, Bihar and Telangana and Andhra Pradesh.
Portal launched to trace unclaimed amount
On 6 May 2023, RBI Governor Shaktikanta Das had informed that RBI has started a web portal to find out the unclaimed amount. After this, instead of the website of different banks, customers will get information about their unclaimed amount on the same portal.
