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Fwd: [karmayog] Fwd: RBI SHOULD BE CUSTODIAN OF UNCLAIMED FUNDS IN BANKS

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  • Thiagarajan Arunachalam
    From: Mahendra Kamdar *RBI SHOULD BE CUSTODIAN OF UNCLAIMED FUNDS IN BANKS * * * Huge amounts of funds are lying unclaimed and/or without
    Message 1 of 1 , Jun 23, 2013
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      From: Mahendra Kamdar <mdkamdar@...>

      RBI SHOULD BE CUSTODIAN OF UNCLAIMED FUNDS IN BANKS

       

      Huge amounts of funds are lying unclaimed and/or without knowledge of customers/depositors in suspense and inoperative accounts of banks of India. These banks also include large number of private, multinational and co-operative banks. It is grossly against national and public interest to leave such enormous amount of public-money especially in private, multinational and co-operative banks.

       

      Reserve Bank of India (RBI) should issue a directive that all banks may inform their customers/depositors by registered post about their funds lying for more than say three years in such suspense and inoperative accounts for being claimed in a time-bound period. After expiry of such time-bound period, all such 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. Similar system should be for deposits and accounts in post-offices. It should not be difficult because already such a system exists for unclaimed dividends in companies.

       

      MADHU AGRAWAL

      (Guinness Record Holder for letters in Newspapers)

      1775 Kucha Lattushah

      Dariba DELHI 110006 (India)

      Tel       23253636

      Mobile 9810080011   

      Fax      23254036

      E-mail  subhashmadhu@...

      Web     www.subhashmadhu.com

      22.06.2013

      DEABD/E/2013/02077

      PRSEC/E/2013/09361

       


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