Unclaimed Deposits/ Inoperative Accounts in Banks – Display list of Inoperative Accounts
by
Ashok Goyal
·
26/12/2014
Unclaimed Deposits/ Inoperative Accounts in Banks – Display list of Inoperative Accounts
September 23rd, 2021
Ashok Goyal
Keeping in view public interest, it had been decided that banks should, in addition to the instructions issued by Reserve Bank of India, pay a more pro-active role in finding the whereabouts of the account holders of unclaimed deposits and inoperative accounts. Banks are, therefore, advised that they should display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites. The list so displayed on the websites must contain only the names of the account holder(s) and his/her address in respect of unclaimed deposits/inoperative accounts. Now Some of the Banks Like Andhra Bank have started the Facility and in case your Bank has not acted upon RBI’s advice, one can approach the regulatory body to press upon the Bank to implement the RBI guidelines. In addition to the unclaimed deposit and/or inoperative accounts the public should also search for unclaimed investments of their forefathers not made know to their successors. Even unclaimed locker contents are lying with the Banks unclaimed for years together. Now Reserve Bank of India has issued guidelines to Banks to engrave the keys with the code of Bank and Branch so that legal heirs can locate the lockers belonging to their forefathers easily. Even Tax people while making search operations will be able to locate the Bank and Branch from engraved codes. Look for the engraved code on any Godrej, Steelage Key found by you in your home as it may be a locker key with Key Number. Most of the Banks in India have lockers of Godrej and Steelage Make only.
Do you know that when we see website addresses like www.pnbindia.in or www.licindia.in ,the world (in ) refers to the Country Code.
Tags: Inoperative AccountsInoperative Lockers
Ashok Goyal
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