50 thousand crores with banks and insurance companies for which no claimants have been found. 5,977 crore in 2020. Increase is. According to information provided by the government in parliament, there is no information on how many policies there are. But of the approximately 8.1 crore accounts, Rs. That is, the average amount in each account is 3 thousand rupees.
How much money is in any bank
At public sector banks, the average is Rs. And Rs 3,340 in private banks. 6.6 lakh accounts in foreign banks average Rs 9,250. At the same time, in rural and small financial banks, about 1600 accounts have averaged Rs 654.
The Modi government is allowing 15 lakh rupees to sit at home
What are the reasons
Moreover, since no claim is made to such a large fund, it is noticeable that family members are not aware of these policies. Or the document is lost somewhere. Policyholders do not get their money due to a change in the bank position several times. Many such accounts have very little money. Many times, even in the absence of a nominee, you cannot get paid.
What should the RBI say about this?
Minister of State for Finance, Bhagwat Karad, in Parliament, said, “The Reserve Bank of India has instructed banks and insurance companies to take a more active role.” According to the RBI, the unclaimed money will be transferred to the Deposit Education and Awareness Fund for the promotion of depositors and for use elsewhere.
The bank has made these changes to make online banking safer for SBI customers.