Question
The Reserve Bank of India (RBI) has announced the launch
of a special 100-day campaign to trace and settle unclaimed deposits in every district of the country. The campaign began from 1st June 2023. What is the purpose of the campaign?Solution
The Reserve Bank of India (RBI) has announced the launch of a special 100-day campaign to trace and settle unclaimed deposits in every district of the country. Under the campaign, which will begin on June 1, 2023, banks will trace and settle their top 100 unclaimed deposits in each district. The move is aimed at reducing the quantum of unclaimed deposits in the banking system and returning such deposits to their rightful owners.
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