Express HuntExpress Hunt
  • HOME
  • POLITICS
  • SPORTS
  • BRAND STORIES
  • ENTERTAINMENT
  • OPINION
Search
  • Advertise
© 2022 Express Hunt . All Rights Reserved.
Reading: RBI launches ‘100 Days 100 Pays’ campaign to solve unclaimed deposits
Share
Notification Show More
Latest News
Dreamworld Vacations  Launches All-Inclusive Family Holiday Packages in India for Memorable Getaways
May 15, 2025
Royal Savoy Holidays is Redefining Luxury Escapes: Ranked Among the Best International Tour Operators in India
May 15, 2025
Rosewood Worldwide Travel Launches India’s Most Exclusive and Rewarding Holiday Membership Program
May 15, 2025
How Mahavir Kumar and Nitish from IIT Kharagpur Are Building Beyond Career
May 13, 2025
The Quiet Force Behind Mental Clarity in Glamour and Influence: Dr. Devinder Dhalla’s Trusted Healing for High-Profile Lives
May 12, 2025
Aa
Express HuntExpress Hunt
Aa
Search
  • HOME
  • POLITICS
  • SPORTS
  • BRAND STORIES
  • ENTERTAINMENT
  • OPINION
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Home » Blog » RBI launches ‘100 Days 100 Pays’ campaign to solve unclaimed deposits
AsiaFinanceIndianewsOpinion

RBI launches ‘100 Days 100 Pays’ campaign to solve unclaimed deposits

Rudrakshi Gupta
Rudrakshi Gupta
Last updated: 2023/05/14 at 4:52 PM
Share
2 Min Read
SHARE
RBI Governor

The Reserve Bank of India (RBI) has launched a new campaign to trace and settle the top 100 unclaimed deposits of every bank in every district of the country within 100 days. The campaign, named ‘100 Days 100 Pays’, aims to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners/claimants.

According to RBI, the measure will complement the ongoing efforts and initiatives by the central bank to reduce the quantum of unclaimed deposits in the banking system. The move is aimed at promoting financial literacy and raising awareness among depositors to avoid their deposits from becoming unclaimed.

The RBI has also urged all banks to participate in the campaign and make efforts to trace and settle the unclaimed deposits. The central bank has also asked banks to create a dedicated cell to handle such cases and to publicize the names of account holders whose deposits are unclaimed on their websites.

The RBI has emphasized the importance of banks identifying and tracing the rightful owners of unclaimed deposits. The central bank has also asked banks to take adequate measures to ensure that such deposits do not become unclaimed in the future.

Recently, unclaimed deposits with banks fell to Rs 35,012 crore from Rs 48,262 crore a year ago, data made available by the government shows.

The total amount of unclaimed deposits transferred to the Reserve Bank of India (RBI) by public sector banks (PSBs) in respect of deposits not operated for 10 years or more was Rs 35,012 crore till February 2023 as against Rs 48,262 in March 2022, Minister of State for Finance Bhagwat Karad said in a written reply to the Parliament.

Unclaimed deposits have been a major concern for the banking industry, and the RBI has been taking several initiatives to reduce their quantum in the system. 

You Might Also Like

Arun Matheswaran’s “Captain Miller” Makes Waves at the Box Office

India vs England Test Series Kicks Off with Exciting Offers

Cult Leader and Associates Ordered for Mental Health Evaluations

Indian Railways Takes Swift Action Against TTE Misconduct

Dua Lipa Advocates for Humanitarian Cease-Fire Amid Israel-Hamas Conflict

TAGGED: 100 days 100 pays campaign, Express hunt, India, News
Rudrakshi Gupta May 14, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp Email Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Surprise0
Wink0
Cry0
Previous Article Actress Ishita Dutta enjoys a private baby shower
Next Article Delhi’s new food truck policy , with locations for setup identified
Leave a comment Leave a comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

- Advertisement -
Ad imageAd image

Latest News

Dreamworld Vacations  Launches All-Inclusive Family Holiday Packages in India for Memorable Getaways
Brand Stories May 15, 2025
Royal Savoy Holidays is Redefining Luxury Escapes: Ranked Among the Best International Tour Operators in India
Brand Stories May 15, 2025
Rosewood Worldwide Travel Launches India’s Most Exclusive and Rewarding Holiday Membership Program
Brand Stories May 15, 2025
How Mahavir Kumar and Nitish from IIT Kharagpur Are Building Beyond Career
Brand Stories May 13, 2025
Follow US

© 2022-2024 Express Hunt . All Rights Reserved.

  • About EH
  • Privacy Policy
  • Get In Touch
  • My Bookmarks
  • Our Authors

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?