PTI | , Posted through Sreelakshmi B
The Reserve Bank on Thursday introduced to arrange a centralized portal to get admission to main points of unclaimed deposits through depositors or their beneficiaries throughout quite a lot of banks.
About 35,000 crore unclaimed deposits as of February 2023 have been transferred to RBI through public sector banks (PSBs) in admire of deposits that have been now not operated for 10 years or extra.
In order to fortify and widen the get admission to of depositors or beneficiaries, it’s been made up our minds to broaden a internet portal to allow seek throughout more than one banks for conceivable unclaimed deposits, RBI Governor Shaktikanta Das stated whilst pronouncing the primary bi-monthly financial coverage for present monetary 12 months 2023-24.
State Bank of India (SBI) tops the chart of unclaimed deposits price 8,086 crore adopted through Punjab National Bank 5,340 crore, Canara Bank 4,558 crore and Bank of Baroda 3,904 crore.
The Reserve Bank on Thursday marginally revised upwards the industrial expansion projection for the present fiscal to six.5 consistent with cent, from its previous estimate of 6.4 consistent with cent.
Unveiling the primary bi-monthly financial coverage of 2023-24 fiscal, RBI Governor Shaktikanta Das stated the GDP expansion within the first quarter of 2023-24 is anticipated at 7.8 consistent with cent.
The expansion for 2nd, 3rd and fourth quarter of the present fiscal has been projected at 6.2 consistent with cent, 6.1 consistent with cent and 5.9 consistent with cent, respectively.
The World Bank in its newest ‘India Development Update’ (IDU) has slashed the Gross Domestic Product (GDP) forecast to six.3 consistent with cent, towards the sooner estimate of 6.6 consistent with cent in 2023-24.
The Asian Development Bank additionally expects India’s financial expansion to reasonable to six.4 consistent with cent because of tight financial stipulations and increased oil costs, as in comparison to 6.8 consistent with cent growth for the monetary 12 months ended March 2023.