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Unclaimed deposits go up

The total amount of unclaimed deposits (which are more than 10 years old) in the scheduled commercial banks in India is Rs 3652.64 crore ending calendar year 2012. According to a source in the RBI, This figure is likely to go up as details for the period ending 2013 are being collated. Compared to this the total amount for 10 years ending 2011 was around Rs 2,481.40 crore in 1,12,49,844 bank accounts, while the same for 10 years ending 2010 stood at around Rs. 1,723.24 crores in 1,03,45,857 accounts. The amount is distributed in a total of 1.33 crore unclaimed accounts. Guidelines prevent banks and even the RBI from sharing details of the account holders. According to the sources out of this Rs 714,08,01,113 is with the SBI and five of its associate banks, while other 20 nationalized banks account for Rs 25,22,59,87,807, while Rs 749799007 lies with foreign banks and Rs 340,98,84,784 is with other private banks. Savings accounts top the list with 1.09 crore accounts holding Rs 2473.97 crore.

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