48,000 crores lying unclaimed in banks, are you not its owner?

Photo:India TV/RBI bank


  • A total of 48 thousand crore rupees are inactive in various states of the country.
  • Number of deposits in the financial year(2021-22) Rs 48,262 crore
  • 8,998 crore more than last year

Reserve Bank of India: The Reserve Bank of India (RBI) has decided to start a national campaign regarding the money lying unclaimed in different banks of the country. A total of 48 thousand crore rupees are lying idle in various states of the country. Who is the owner of this money? RBI has taken this step to find out. The campaign will focus on eight states where the number of idle funds is high.

According to the annual report released by RBI, the number of deposits in this financial year (2021-22) is Rs 48,262 crore, which is 8,998 crore more than last year. Unclaimed deposits in banks stood at Rs 39,264 crore in the last financial year.

These eight states will be looked at

According to an RBI official, most of these funds are lying in banks in Tamil Nadu, Punjab, Gujarat, Maharashtra, Bengal, Karnataka, Bihar and Telangana/Andhra Pradesh. This campaign has been launched in the languages ​​of these eight states as well as Hindi and English.

How to determine who is inactive account?

As per RBI rule, the amount deposited in Savings/Current accounts which is lying for 10 years. Which has not been withdrawn by that account holder. Nor has any transaction been done with those amounts. The accounts of those account holders are considered inactive. The banks then transfer such money to the ‘Depositor Education and Awareness Fund’ set up by the Reserve Bank of India (RBI).

get money on claim

If the account holder wants to withdraw the money deposited in the banks for ten years, then he can easily withdraw it. And can also credit the interest fixed by the bank on those money in his account. RBI says that it wants to run this campaign so that the living account holders or the family members of the deceased account holders can reach the amount deposited in their account, and help them. RBI has been conducting such awareness campaigns in the past as well. However, despite this, the number of unclaimed money in banks has been increasing. A major reason for the increase in the number of such account holders is also the non-degradation of the account of the deceased account holders. If the account of those account holders is closed by the family members after informing the bank, then a significant decline can be seen in it.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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