RBI Launches Initiative to Recover Over Rs 352 Crore in Unclaimed Funds

More than Rs 352.52 crore remains unclaimed with the Reserve Bank of India (RBI), affecting individuals across various regions, including Rs 21.07 crore from the Nadaun district. Ashish Kumar Sharma, Assistant General Manager of the RBI, revealed this information during an event in Gauna village on October 19, 2023. The RBI has initiated a nationwide awareness campaign titled “Your Money, Your Right” to facilitate the reclamation of dormant and unclaimed bank accounts.

Sharma emphasized the RBI’s commitment to assisting individuals in recovering their outstanding deposits. He highlighted that banks throughout the region are hosting special camps designed to streamline the claims process. “We urge the public to take full advantage of this initiative and encourage families to check for any unclaimed deposits,” he stated.

Public Engagement and Awareness

During the program, Ashish Sangra, the RBI Lead District Officer, along with Ajay Katna, Director of PNB-RSETI, provided attendees with a detailed explanation of the step-by-step process for claiming long-pending deposits. They also addressed the growing concern of digital fraud, advising residents to adopt safe banking practices to protect their finances.

The event was attended by key figures such as Parul Upadhyay, Chief Manager of the PNB Circle Office, local bank managers, and members of Panchayati Raj Institutions. Their collective presence underscored the importance of community involvement in raising awareness about the initiative.

Encouraging Safe Banking Habits

As the RBI works to ensure that rightful owners reclaim their funds, the focus is also on educating the public about potential threats in the digital banking space. With an increase in fraudulent activities, the officials at the event reminded residents of the importance of being vigilant and informed.

The “Your Money, Your Right” campaign aims not only to recover unclaimed funds but also to strengthen the overall banking literacy of the community. By fostering a culture of awareness, the RBI hopes to minimize the number of dormant accounts and enhance the security of financial transactions.

This initiative is a significant step towards ensuring that individuals are aware of their rights concerning unclaimed money and are equipped to reclaim their funds effectively. As the campaign progresses, the RBI encourages all citizens to participate actively in this crucial effort.