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TMI Blog24,356 crore of unclaimed deposit lying with Scheduled Commercial Banks (SCBs) as on 31.12.2020X X X X Extracts X X X X X X X X Extracts X X X X ..... 24,356 crore of unclaimed deposit lying with Scheduled Commercial Banks (SCBs) as on 31.12.2020 X X X X Extracts X X X X X X X X Extracts X X X X ..... nister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha. Giving more details for FY 2020, the Minister stated that RBI has informed that unclaimed deposits have increased by ₹ 5,977 crore in the year 2020, as compared to the year 2019, on account of depositors not having claimed their deposits from banks. RBI has advised banks to play a more pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o-active role in finding the whereabouts of the accountholders of unclaimed deposits/ inoperative accounts vide circulars dated 07.02.2012, 08.02.2012, 21.11.2014 and 02.02.2015, the Minister stated. The Minister further stated that pursuant to the amendment of the Banking Regulation Act, 1949, and insertion of section 26A, RBI has framed the Depositor Education and Awareness Fund (Fund) Scheme, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014 (Scheme). The scheme has already been notified vide Gazette Notification dated 24.5.2014. As per the Scheme, the Fund is utilized for promotion of depositors' interests and for such other purposes which may be necessary for promotion of depositors' interest as may be specified by RBI. X X X X Extracts X X X X X X X X Extracts X X X X
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