NEWS & ADVICE : EDUCATION LOANS
Unclaimed amounts of Rs 3,652 in bank accounts
By Neelima Shankar
Nov 26, 2013
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Across the nation in banks, there is more than Rs.3,6000 crore which is still unclaimed in the provisional areas. As per the bank's data which was released by the banks on Thursday, the reason why there are unclaimed funds which can be seen as per a record as on December 2012, of more than 1.33 crore bank accounts which have not been operated.

Until December 2012, there has been an overall accrued interest of approximately Rs. 460 crore on these accounts. The banks have been requested by the RBI to provide the list of the unclaimed deposit account holders. The information would be updated regularly on the website of the bank.

The center proposed, in 2012 to move the sum into a fund called the Depositor Education and Awareness Funds so that occasionally it can be used for the various other purposes and the depositors’ interest depending on the specification received from the RBI occasionally.


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