Centralised Web Portal : RBI
The Reserve Bank of India (RBI) has announced that it will launch a web portal to help beneficiaries retrieve unclaimed deposits.
- The portal will allow users to search for unclaimed deposits across multiple banks, using AI tools to enhance the search results.
- The portal will be password-protected, and only claimants will have access to search for unclaimed deposits.
- Banks are required to display the list of unclaimed deposits on their websites.
- Deposits of individuals in any bank account that remain unclaimed for 10 years.
- These unclaimed deposits are transferred to the Depositor Education & Awareness Fund maintained by the RBI.