Portal to help trace unclaimed bank deposits

New Delhi, April 6

RBI Governor Shaktikanta Das on Thursday said a centralised portal would be developed to access details of unclaimed deposits by depositors or their beneficiaries across various banks. About Rs 35,000 crore unclaimed deposits as of February 2023 were transferred to the RBI by public sector banks in respect of deposits which were not operated for a decade or more.

“To improve and widen the access of depositors/beneficiaries to such data, the RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs,” he said. SBI had unclaimed deposits worth Rs 8,086 crore followed by PNB (Rs 5,340 crore), Canara Bank (Rs 4,558) crore and Bank of Baroda (Rs 3,904 crore).