New Delhi
It will be easier to get the uncured amount lying in banks, ie unclaimed amount. According to the ET report, the government and private banks will soon present an easy general format in this regard, which will allow the account holders or their nominated persons with an unclaimed deposit of more than Rs 78,213 crore. People aware of this matter have given information about this. In addition to the general application and declaration form, this system will also include a list of standard documents required to regain unclaimed deposits.
Working group prepared draft
Executive of a government bank said that along with the application, details like name, mobile number and address will have to be given, which will be processed by the concerned bank branch after verification. Another bank official said, “The recommendations of the Working Group constituted to consider the issue of uncured deposits have been accepted. From FY 2026, ‘Online Retrieval Mechanism’ will be completely operational.”
In fact, last year, after discussion with the Reserve Bank of India (RBI), the government and other stakeholders, a work group of senior bankers of public sector banks was formed, which was asked to recommend ways to speed up the settlement of unclaimed money in banks.
78000 crore unclaimed amount
The amount deposited in bank accounts, which has been lying for 10 years or more, is transferred to RBI depositor Education and Awareness (DEA) fund. By March 2024, this fund had ₹ 78,213 crore deposits, which shows a 26% increase as compared to the previous financial year. This amount can be obtained under a rule in the case of account holder or their death. Most of the cases of uncured amount in banks are mostly seen due to non -registered of the nominee.
