Unclaimed withdrawal Money: Bank customers will get back unclaimed money deposited in 30 banks, RBI issued order

Reserve Bank of India: Information was given by RBI that on September 28, 2023, the facility of information related to 30 banks has been made available on the portal. This ‘covers’ approximately 90 per cent of the unclaimed deposits in the Depositor Education and Awareness (DEA) Fund.

Unclaimed Deposits in Banks: Reserve Bank of India (RBI) said that 30 banks have joined the Udgam Portal which provides information about unclaimed amounts. This will help people to trace and claim unclaimed amount. RBI had launched Udgam Portal on 17th August. Its purpose is to provide people the facility to find unclaimed deposits in multiple banks at one place. Initially this facility was started with seven banks. At that time RBI had said that more banks would be included in it by October 15.

These government banks connected to the portal

It was informed by RBI that on September 28, 2023, the facility of information related to 30 banks has been made available on the portal. This ‘covers’ approximately 90 per cent of the unclaimed deposits in the Depositor Education and Awareness (DEA) Fund. The 30 banks include all the major public sector banks like State Bank of India (SBI), Bank of Baroda (BOB), Punjab National Bank (PNB), Canara Bank and Bank of India.

Big private banks also joined

Apart from this, foreign banks like Citi Bank, Standard Chartered and HSBC and private sector banks include HDFC Bank, ICICI Bank and Axis Bank. The portal is designed to enable people to track unclaimed balance/accounts and claim deposits or activate their deposit accounts with the respective banks.

Transferred an amount of Rs 35,000 crore

It is noteworthy that public sector banks had transferred unclaimed deposits of about Rs 35,000 crore to RBI by February 2023. These were such accounts in which transactions had not taken place for the last 10 years or more. SBI has the highest unclaimed amount of Rs 8,086 crore. After this, there is an amount of Rs 5,340 crore in Punjab National Bank, Rs 4,558 crore in Canara Bank and Rs 3,904 crore in Bank of Baroda. According to the rules, if there is no claim on the amount deposited in a bank for 10 years, it is transferred to the ‘Depositor Education and Awareness’ fund of the Reserve Bank.

How many rupees without claim in which bank?

• SBI—Rs 8,086 crore
• Punjab National Bank—-Rs 5,340 crore
• Canara Bank——-Rs 4,558 crore
• Bank of Baroda——–Rs 3,904 crore

These banks were newly added

1. Canara Bank
2. Bank of India
3. Bank of Baroda
4. Indian Bank
5. Union Bank of India
6. HDFC Bank
7. Federal Bank
8. Kotak Mahindra Bank
9. ICICI Bank
10. UCO Bank
11. Bank of Maharashtra
12. IDBI Bank
13. Jammu and Kashmir Bank Ltd.
14. Punjab and Sind Bank
15. Axis Bank Ltd.
16. Indian Overseas Bank
17. Standard Chartered Bank
18. HSBC Ltd.
19. Karnataka Bank Ltd. Karnataka Bank Ltd.)
20. The Karur Vysya Bank Ltd.
21. Saraswat Co-operative Bank
22. IndusInd Bank Ltd.
23. Tamilnad Mercantile Bank Ltd.

These banks were already included

1. State Bank of India (SBI)
2. Punjab National Bank (PNB)
3. Central Bank of India
4. Dhanlaxmi Bank Ltd
5. South Indian Bank Ltd
6. DBS Bank India Ltd
7. Citi Bank