Unclaimed deposits in banks rise by 28% to ₹42,270 crore, Parliament data reveals
The amount of unclaimed deposits in both public and private sector banks has increased by 28% to ₹42,270 crore in the financial year 2022-23, according to the data presented by the Ministry of Finance in the Parliament. This is the highest amount of unclaimed deposits ever recorded in the history of Indian banking. What are unclaimed deposits and why do they matter? Unclaimed deposits are those deposits that have not…