Public sector banks (PSBs) have transferred unclaimed deposits of ₹35,012 crore as of February 2023 to the Reserve Bank of India (RBI), Minister of State for Finance Bhagwat Karad informed the Lok Sabha on Monday (3rd April 2023).

* “As per information available with the RBI, as of the end of February 2023, the total amount of unclaimed deposits transferred to RBI by PSBs in respect of deposits which have not been operated for 10 years or more was ₹35,012 crore," Karad said in a written reply in the Lok Sabha.

* SBI tops the list with an unclaimed amount of ₹8,086 crore, while Punjab National Bank has ₹5,340 crore and Canara Bank has ₹4,558 crore. These unclaimed deposits belong to 10.24 crore accounts transferred to the RBI.

* To a question that if SBI officials do not assist/extend any help to the family of deceased and even they do not contact the family who have submitted death certificates of deceased, the minister said, the bank provides help to family of the deceased in settling all cases of claims...

Source : Mint