Fund lying nearly 50,000 crores which has no claimants. This news has been given by the Government itself in Parliament. 5,977 crores in banks only since 2020. That is, when people forgot to deposit money in banks, they could not claim it with many policies.
Replying to a question in the same Lok Sabha, Minister of State for Finance Bhagwat Karad told Parliament that as per rbi data as of 31st March 2020, the banks in the country have an amount of Rs. 24,356 crore which no one has claimed, while insurance companies have an amount of Rs. 24 without claims without insurance policies by the end of FY2020. 586 crores, which is Rs.8. 1 crore is lying in the accounts. According to the Minister of State for Finance, as per rbi rules, the unclaimed amount in banks can be made to publicize the interests of depositors.
On average, rs.3000 is lying in each account, which no one has claimed so far. 3,710 in SBI and an average of Rs. 3,340 in private banks, the average amount in foreign banks is Rs. 9,250, which is lying in 6.6 lakh accounts without claim. The lowest amount is in small finance banks, it is about Rs.654 while the average of rural banks is Rs.1600. In the case of insurance, there has always been a problem of not claiming the amount. Many policyholders or their families have not claimed the amount of maturity from the insurance companies so that they are lying without claim for years.