MUMBAI : As per Section 26 of the Banking Regulation Act, banks need to submit data, within 30 days of the close of every calendar year, on domestic accounts that have not been used for 10 years. These deposits are transferred to the Depositor Education and Awareness Fund maintained by the regulator.
On Thursday, RBI said it has decided to develop a web portal that would provide the facility of searching across multiple banks for possible unclaimed deposits. The search results will be enhanced by certain artificial intelligence tools and the portal is expected to improve and widen the access of data. Banks currently display the list of unclaimed deposits on their website.
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Denne historien er fra April 07, 2023-utgaven av Mint Mumbai.
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