RBI asks banks to refund unclaimed deposits estimated over 1700 crore rupees
7 Feb 2012 The Reserve Bank of India, RBI on Tuesday asked banks to locate and refund unclaimed deposits estimated at over 1700 crore rupees.In an instruction to banks, the RBI said that banks in public interest must play a more pro-active role by finding the whereabouts of the account holders of unclaimed deposits and inoperative accounts.
