To improve and broaden depositors and beneficiaries access to unclaimed data, the RBI has decided to create an online platform that will allow them to search across various banks for probable unclaimed deposits depending on user inputs.
RBI has launched “100 Days 100 Pays” campaign for banks to trace and settle top 100 unclaimed deposits of every bank in every district of the country within 100 days, commencing from 1 September 2023 to 8 September 2023, Karad added.
RBI said it has decided to develop a web portal that would provide the facility of searching across multiple banks for possible unclaimed deposits. The search results will be enhanced by certain artificial intelligence tools.