Reserve Bank of India (RBI) has called on banks to step up their efforts to trace and return unclaimed deposits worth more than Rs67,000 crore to their rightful owners. These unclaimed amounts include dormant savings and current accounts, matured fixed deposits, as well as uncollected dividends, interest warrants and insurance proceeds. According to multiple media reports, a special outreach drive will be conducted between October and December, with a focus on rural and semi-urban areas, to help identify account holders and settle these long-pending claims. However, as of now, no official circular, press release or notification reflecting such a directive has appeared on the RBI’s website. This gap raises questions about whether the push is part of an internal advisory to banks
RBI’s Reported Push on Unclaimed Deposits: A Win for Consumers, But Questions Remain

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