NEW DELHI: About Rs 35,000 crore unclaimed deposits as of February 2023 have been transferred to the Reserve Bank of India via public sector banks (PSBs) in recognize of deposits that have no longer been operated for 10 years or extra, Parliament was once knowledgeable on Monday. These unclaimed deposits belong to ten.24 crore accounts transferred to the Reserve Bank of India (RBI) as of the tip of February 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 Rs 35,012 crore,” Minister of State for Finance Bhagwat Karad mentioned in a written answer within the Lok Sabha.
State Bank of India ,SBI) tops the chart of unclaimed deposits price Rs 8,086 crore adopted via Punjab National Bank Rs 5,340 crore, Canara Bank Rs 4,558 crore and Bank of Baroda Rs 3,904 crore.
To a query that if SBI officers don’t help/prolong any lend a hand to the circle of relatives of deceased or even they don’t touch the circle of relatives who’ve submitted loss of life certificate of deceased, the minister mentioned, the financial institution supplies lend a hand to circle of relatives of the deceased in settling all circumstances of claims.
“Settlement of account(s) of deceased constituent are taken up on priority by SBI. SBI staff has been sensitised and instructions are reiterated in all forums of banks at regular frequency,” he mentioned.
For the ease of SBI consumers, he mentioned, the main points/ technique of agreement of claims with out prison illustration in recognize of account(s) of deceased constituents, the specimen of prescribed paperwork, in addition to up to date FAQs for simple working out were uploaded on SBI’s website online.
Every utility for agreement of the account of a deceased constituent gained on the SBI department is duly said, the answer mentioned.
Banks have additionally been recommended to imagine launching a unique force for locating the whereabouts of the shoppers/prison heirs in recognize of accounts that have turn out to be inoperative, ie, the place there aren’t any transactions within the account over a duration of 2 years, it mentioned.
“Further, it said, banks are required to display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites, with the list containing the names and addresses of the account holder(s) in respect of unclaimed deposits/ inoperative accounts,” it mentioned.
Finally, it mentioned, banks were recommended via RBI to play a extra pro-active function find the whereabouts of the account holders whose accounts have remained inoperative.
Responding to some other query, Karad mentioned the federal government’s intent to take in privatization of 2 Public Sector Banks and one Public Sector General Insurance Company together with approval of a coverage of strategic disinvestment of Public Sector Enterprises was once introduced in Union Budget 2021-22.
Consideration of problems associated with disinvestment and choice on variety, phrases and stipulations, and so on. in case of strategic sale is entrusted to the Cabinet committee designated for this function beneath the Government of India (Transaction of Business) Rules, 1961, it mentioned.
The amendments to the related Acts are required sooner than beginning the method of privatization, it mentioned. The essential legislative modification to the General Insurance Business (Nationalisation) Act, 1972 has been enacted, it mentioned.
Further, representations, critiques or tips on more than a few problems together with, privatization of PSBs, gained via the federal government now and again are suitably tested.
“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 Rs 35,012 crore,” Minister of State for Finance Bhagwat Karad mentioned in a written answer within the Lok Sabha.
State Bank of India ,SBI) tops the chart of unclaimed deposits price Rs 8,086 crore adopted via Punjab National Bank Rs 5,340 crore, Canara Bank Rs 4,558 crore and Bank of Baroda Rs 3,904 crore.
To a query that if SBI officers don’t help/prolong any lend a hand to the circle of relatives of deceased or even they don’t touch the circle of relatives who’ve submitted loss of life certificate of deceased, the minister mentioned, the financial institution supplies lend a hand to circle of relatives of the deceased in settling all circumstances of claims.
“Settlement of account(s) of deceased constituent are taken up on priority by SBI. SBI staff has been sensitised and instructions are reiterated in all forums of banks at regular frequency,” he mentioned.
For the ease of SBI consumers, he mentioned, the main points/ technique of agreement of claims with out prison illustration in recognize of account(s) of deceased constituents, the specimen of prescribed paperwork, in addition to up to date FAQs for simple working out were uploaded on SBI’s website online.
Every utility for agreement of the account of a deceased constituent gained on the SBI department is duly said, the answer mentioned.
Banks have additionally been recommended to imagine launching a unique force for locating the whereabouts of the shoppers/prison heirs in recognize of accounts that have turn out to be inoperative, ie, the place there aren’t any transactions within the account over a duration of 2 years, it mentioned.
“Further, it said, banks are required to display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites, with the list containing the names and addresses of the account holder(s) in respect of unclaimed deposits/ inoperative accounts,” it mentioned.
Finally, it mentioned, banks were recommended via RBI to play a extra pro-active function find the whereabouts of the account holders whose accounts have remained inoperative.
Responding to some other query, Karad mentioned the federal government’s intent to take in privatization of 2 Public Sector Banks and one Public Sector General Insurance Company together with approval of a coverage of strategic disinvestment of Public Sector Enterprises was once introduced in Union Budget 2021-22.
Consideration of problems associated with disinvestment and choice on variety, phrases and stipulations, and so on. in case of strategic sale is entrusted to the Cabinet committee designated for this function beneath the Government of India (Transaction of Business) Rules, 1961, it mentioned.
The amendments to the related Acts are required sooner than beginning the method of privatization, it mentioned. The essential legislative modification to the General Insurance Business (Nationalisation) Act, 1972 has been enacted, it mentioned.
Further, representations, critiques or tips on more than a few problems together with, privatization of PSBs, gained via the federal government now and again are suitably tested.