Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
Govt May Ask PSBs To Clear 30-40% Unclaimed Deposits
Mint Chennai
|April 24, 2025
The move will aid banks tackle compliance, operational challenge, and increase transparency
The Centre may ask state-run banks to settle at least 30-40% of over ₹78,000 crore of deposits lying unclaimed in their books in 2025-26, said two persons close to the development.
To achieve the target, the Union government is likely to ask public sector banks (PSBs) to identify geographical areas with the most unclaimed deposits, set quarterly settlement targets at the branch level, and develop a standard operating procedure (SoP), in addition to implementing new central bank guidelines, said the first of the two persons mentioned above.
Reserve Bank of India (RBI) guidelines, effective 1 April, require banks to display details of unclaimed deposits, along with a public search feature, on their websites.
In fact, the government has included the settlement of unclaimed deposits in the EASE, or Enhanced Access and Service Excellence, reforms agenda for PSBs for the current fiscal, added the second of the two persons mentioned above.
Denne historien er fra April 24, 2025-utgaven av Mint Chennai.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Mint Chennai
Mint Chennai
It's Clear That Gamblers Should Pay More Taxes Than Investors
Investing aids the economy but gambling is simply consumption
3 mins
September 15, 2025
Mint Chennai
Finding inspiration in natural light
Nicobar's Simran Lal on how her two workspaces keep her calm, motivated
2 mins
September 15, 2025
Mint Chennai
Yuan versus the dollar: Propose a third option
As China attempts to globalize its legal tender; America guards the supremacy of its own and digital currencies gain traction, India should revive Keynes' idea of a global trade currency
2 mins
September 15, 2025
Mint Chennai
Mercedes Expects Best Festive Season
The recent GST rate cut is likely to make the upcoming festive season the 'best-ever' for the luxury carmaker, but there is a need to cap road taxes levied by states on car purchases for long-term growth of the industry, Mercedes-Benz India managing director and chief executive officer Santosh Iyer said.
1 min
September 15, 2025
Mint Chennai
Indian Market Resilient; Stocks Could Touch New Highs by March
Over the long term, say 7 to 10 years, small and midcaps will be the real winners A. Balasubramanian, managing director and chief executive of Aditya Birla Sun Life AMC
4 mins
September 15, 2025
Mint Chennai
Top Debtor States Seek More From Finance Commission
Greater fiscal relief, revamped criteria for tax revenue sharing, special funds among demands
2 mins
September 15, 2025
Mint Chennai
Insurance law revision likely next session: FM
The Insurance Amendment Bill, which proposes 100% foreign direct investment in the sector, is likely to be introduced in parliament in the winter session, finance minister Nirmala Sitharaman has said.
1 min
September 15, 2025
Mint Chennai
When street dogs, cats bring the office closer
When colleagues work towards a collective goal like looking after community animals, it offers them a sense of purpose
4 mins
September 15, 2025
Mint Chennai
COP-30: Use carbon trading to win climate leadership
An efficient and credible carbon market can give India a chance to lead a global agenda that's fair to everyone
3 mins
September 15, 2025
Mint Chennai
Small stores, bold ambitions: Ikea to ramp up presence
Ikea India plans to add 3-4 small city stores over 10 months, shifting focus from large-format outlets to compact spaces
1 mins
September 15, 2025
Listen
Translate
Change font size