‘100 Days 100 Pays’ Campaign-RBI’s campaign against unclaimed deposit

100 Days 100 Pays’ Campaign: In the aim to trace and settle the top 100 unclaimed deposits in every bank across all districts within a span of 100 days, Reserve Bank of India (RBI) from June 1st had launched the campaign where they specifically target the top 100 unclaimed deposits in each bank within every district, in order to clear Non Performing Asserts (NPV) of each financial institution, spanning to every district of every state of the country. By focusing on these deposits, the RBI aims to ensure that the rightful owners or claimants receive their long-overdue funds.


According to the Reserve Bank of India (RBI), as per the available data until February, Public Sector Banks (PSBs) had transferred a significant sum of ₹35,012 crore as unclaimed deposits to the RBI. This substantial amount serves as a stark reminder of the importance of promptly and effectively addressing this issue. The magnitude of ₹35,012 crore emphasizes the scale of unclaimed deposits that have accumulated within the PSBs. These unclaimed deposits refer to funds that have been left untouched by customers for a considerable period of time, often due to a lack of awareness or forgetfulness. Over time, these unclaimed funds can amass to substantial sums, as evidenced by the significant figure reported by the RBI.

The transfer of these unclaimed deposits to the RBI signifies the efforts made by PSBs to ensure the proper management and safeguarding of customer funds. By transferring these funds to the central bank, PSBs aim to mitigate the risk of mismanagement or misuse of the unclaimed deposits. The RBI assumes responsibility for the safekeeping and administration of these funds, taking appropriate measures to locate the rightful owners and facilitate their retrieval. Addressing the issue of unclaimed deposits promptly and effectively becomes crucial in light of the substantial amount transferred to the RBI. It highlights the need for proactive measures to raise awareness among bank customers regarding the importance of regularly reviewing and managing their accounts. Initiatives aimed at educating customers about the implications of unclaimed deposits and the steps to prevent them can help minimize the accumulation of such funds in the future.


The Reserve Bank of India (RBI) has recently announced its intention to launch a dedicated web portal to streamline the search for unclaimed deposits across multiple banks. This user-friendly portal aims to facilitate individuals in entering their details and initiating a comprehensive search for any potential unclaimed deposits. To enhance the effectiveness of the search results, the RBI will incorporate artificial intelligence (AI) tools. This initiative is designed to expand access and improve the information available to depositors and beneficiaries. To identify unclaimed deposits, specific criteria are followed. Savings and current accounts that have remained inactive for a period of 10 years, as well as term deposits that have been unclaimed for 10 years from the maturity date, are categorized as “Unclaimed Deposits.” This classification helps banks and financial institutions in identifying and addressing these dormant funds. Banks transfer the amounts of unclaimed deposits to the Depositor Education and Awareness (DEA) fund maintained by the RBI. This fund plays a crucial role in creating awareness and educating depositors about their rights and the importance of actively managing their accounts.In order to ensure transparency and facilitate the search for unclaimed deposits, banks are required to display the list of such deposits on their respective websites. This measure enables depositors to easily access relevant information and initiate the process of reclaiming their funds.


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