PSBs transfer Rs 35,012 cr unclaimed wealth to RBI

The Centre has informed the Lok Sabha that deposits to the tune of Rs 35,012 crore lying unclaimed with public sector banks (PSBs) have been transferred to the Reserve Bank of India (RBI) as of February 2023. In a written reply, Minister of State for Finance Bhagwat Karad said that unclaimed deposits belonged to 10.24 crore accounts, which have not been operated for 10 years or more.