35,000 crore Rupees in Unclaimed Accounts! | Jagran Business- Watch Video

08 Apr, 2023 Author: Saumya Jaiswar

Public sector banks (PSBs) notified the Parliament on Monday that as of February 2023, they have remitted unclaimed money of around 35,000 crore to the Reserve Bank. These unclaimed deposits, which belonged to 10.24 crore accounts transferred to the Reserve Bank of India (RBI) as of the end of February 2023, were in relation to deposits that had not been operated for 10 years or more.

"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," said Minister of State for Finance Bhagwat Karad in a written reply in the Lok Sabha.

Punjab National Bank comes in second with unclaimed deposits of 5,340 crore, trailing State Bank of India (SBI) at the top of the list with 8,086 crore. Canara Bank comes in second with 4,558 crore and Bank of Baroda comes in third with 3,904 crore in unclaimed deposits.