........in the Banking Laws (Amendment) Act, 2012, a new section has been inserted in the Banking Regulation Act empowering the RBI to establish the 'Depositor Education and Awareness Fund' for the unclaimed deposits lying with any bank for more than 10 years. "This fund will be utilised for promotion of depositors' interest and for such other purposes which may be necessary for the promotion of depositors' interest as may be specified by the RBI from time to time,"...........
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