Banks have launched a campaign to return unclaimed money to customers, following an order from the Reserve Bank of India (RBI). As of February 2023, around Rs 35,102 crore is lying unclaimed in the country’s banks. Under the 100 Days 100 Pays campaign, individuals can withdraw money from old bank accounts that have been closed and have unclaimed deposits. Changes have been made to the campaign regarding unclaimed deposits, with banks settling amounts that have been left untouched for a long time. Account holders who have not transacted in their savings or current account for 10 years will also have their money returned to them, starting from June 1, 2023. To claim unclaimed money, individuals can visit their bank branch or official website and fill in a form, submitting account-related documents like a passbook and address proof. The bank will then return the money. The campaign aims to reduce the amount of money lying dormant in banks and return it to its owners or claimants.
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