Wednesday, February 6, 2013

RBI tells banks to refund unclaimed deposits of R1,700 crore

Mumbai: The Reserve Bank of India (RBI) has asked banks to locate and refund unclaimed deposits of around R1,700 crore. "Keeping in view public interest, it has been decided that banks should play a more pro-active role in finding the whereabouts of the account holders of unclaimed deposits/inoperative accounts.


“Banks are, therefore, advised that they should display the list of unclaimed deposits/inoperative accounts, which are inactive/inoperative for 10 years or more on their respective websites," the RBI said in an instruction to banks.

A whopping R1,723.24 crore in 1.03 crore non-operational accounts in different banks were lying unclaimed as on December, 2010.

"Banks should also give on the same website the information on the process of claiming the unclaimed deposit/activating the inoperative account and the necessary forms and documents for claiming the same," RBI added. Banks have been asked to complete the exercise by June 30 and keep their websites updated at regular intervals.

Expressing concern over the "increase in the amount of the unclaimed deposits with banks year after year and the inherent risk associated with such deposits", RBI said the lists should contain only the names of the account holder(s) and his/her address.

16 comments:

  1. 1- Number your curse words and call out a number when stress strikes.
    There are many people out there that are getting bored and most of the times when we
    get bored and we have nothing to do, we would mostly go on the internet
    and watch some funny pictures. The world will suddenly look a much better place to live in.



    My homepage: inspirational funny pictures and quotes

    ReplyDelete
  2. One can find plenty of funny pictures and videos by a single click on any search
    engine like Yahoo or Google. I can also would suggest taking a few minutes to successfully snicker not to mention grin available at funny pictures ( imagenes de
    humor ) and then funny videos ( videos divertidos ) to assist you in the quest with cheer in addition to
    stress reliever. However, for the next several miles
    until we got to our hotel, he smelled pretty dog-gone good, not.


    Also visit my weblog :: http://wiki.tophat.ie/index.php?title=User:BettyeBqn

    ReplyDelete
  3. Pictures are really good source of lessons instead of
    text, its my familiarity, what would you say?

    Also visit my web page related webpage

    ReplyDelete
  4. Hi! Do you know if they make any plugins to
    assist with Search Engine Optimization? I'm trying to get my blog to rank for some targeted keywords but I'm not seeing very good results.
    If you know of any please share. Cheers!


    Also visit my homepage - http://www.biotechnologyreview.net/ar/research-biotechnology.php

    ReplyDelete
  5. The final step toward making your funny picture or video popular is to find the
    right distribution. With this amazing app Write Pad, You can take notes by.
    Laughter is the finest medication, and we need to partake
    in it as typically as we are ready to do so.

    Also visit my web page ... http://www.szakibazis.com/TangelaMa

    ReplyDelete
  6. Education is not about memorizing and getting the degrees in hand.
    He tells the tale of a young boy, a tot, who was riding a toy car
    near the railroad crossing. The reliable reviews on business and
    forecast about products and services.

    Check out my blog ... www.latestdailynews.com

    ReplyDelete
  7. The new tablet would be a further extension
    of these concepts and yet another step into the future of computing for Apple.
    " Earlier today some cruise ship struck land in Alaska. I want to mention a part of the Prime Law (Twelve Visions Party) which is part of Neothink.

    Look into my blog Latest Daily News

    ReplyDelete
  8. With the New Year quickly approaching, many people are setting their sights towards total physical fitness.
    So if you adopt them punctually, you will be surely able to
    gain your holistic health very soon. Most of us love it; going to Mac -
    Donald or Burger King from time to time.

    Look into my blog post ... Fitness Tips And Workouts

    ReplyDelete
  9. Hello, I read your blogs regularly. Your humoristic style is witty, keep it up!


    My web page: fitness tips men

    ReplyDelete
  10. Exercise can help to avoid menopause weight gain and reduce other risks including osteoporosis, heart disease, and arthritis.
    Then you'll have no trouble motivating yourself to do it. The decisive factor is that men would want to show themselves as hot and rock solid before the fashionable ladies as ever.

    Also visit my web site ... exercise and fitness tips aerobic exercise

    ReplyDelete
  11. Vanity Fair is stylish and well written, and they push the envelope in celebrity
    reporting, giving readers if not a balanced representation,
    then at least an interesting angle to a well
    known personality. Who does not want to know what is happening in our favorite celebrity''.
    With this online store you need not worry about being fooled because the
    site is accorded security.

    My web page shiatsu-massagechairs.org

    ReplyDelete
  12. So, while I am no roving reporter I am endeavoring with my menial reporting
    skills, to bring you. I have more stuffings in me from yesterday than I care
    to think about. It the radio was the only one that used to deliver
    the days news and weather updates.

    Stop by my web blog - anonimfile.org

    ReplyDelete
  13. I every time emailed this blog post page to all my associates, for the reason that if like to read it afterward my links will too.


    Here is my site; http://fitnesstipsonly.com/post/41288656158/15-minute-c ore-workout

    ReplyDelete
  14. Whats up! I just want to give a huge thumbs up for the
    good information you will have here on this post. I can be coming again to your blog for extra
    soon.

    Here is my site epley maneuver video download

    ReplyDelete
  15. obviously like your website but you have to take a look at the spelling on several of your posts.
    A number of them are rife with spelling issues and I in finding it very troublesome
    to inform the truth on the other hand I'll definitely come back again.

    Feel free to visit my website; asthma symptoms - blogspot.com -

    ReplyDelete
  16. Hi there, constantlу i used tо cheсk blog рosts here eaгlу іn the
    dawn, becausе i likе to learn more and more.


    Hеге is my hоmepage quickest way to lose weight

    ReplyDelete