RBI sets targets for lenders on CBDC, unclaimed deposits
₹1.44 trillion to the DEA fund. While private sector banks transferred ₹21,315 crore between 31 March 2019 and 31 March 2023, PSBs have transferred ₹1.22 trillion.
Banks have received ₹5,729 crore from the DEA fund in the last five years as a refund for settling unclaimed deposits.“RBI is monitoring unclaimed deposits aggressively because the money is going to DEA. They hold meetings with bankers regularly to exchange ideas and intensify efforts to settle the deposits," said another senior private sector banker.
“There is a huge amount of pressure as we have to put a lot of feet on the street to get it done." he added. Separately, the central bank has also announced the setting up of a centralized portal for the public to help them locate unclaimed deposits in multiple banks.
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