Huge amounts of funds are lying unclaimed and are in inoperative in many banks. The Reserve Bank of India ( RBI) should issue a directive that all banks may inform their customers/ depositors about their funds lying for years together. After the expiry of time- bound period, all unclaimed funds should be transferred to a special fund at RBI from where it may be claimed afterwards by claimants either directly from RBI or through concerned banks.
- Subhash Chandra Agrawal (FPJ)
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