In Ghazipur, Rs 175 crore is lying without transactions in 327 branches of 25 banks for the last 10 years. RBI has started a special campaign to identify the real heirs of these inoperative accounts. Know how your closed bank account will be reopened.
Ghazipur: Imagine, there is a safe in your house and you do not know that crores of rupees are lying in it for 10 years. Something similar has come to light in Ghazipur district. Rs 175 crore has been lying dormant in 327 branches of 25 banks for a decade without any transaction. No withdrawals, no deposits, and no claims. The bank has considered these as ‘sleeping accounts’ and reported them to RBI. Now the Reserve Bank has started a campaign to find the real heirs of these amounts.
Accounts lying inactive for 10 years, interest also stopped
A total of 25 banks including Union Bank of India have branches operating in Ghazipur. In these branches, Rs 175 crore is deposited in such accounts in which there has been no activity in the last 10 years. Due to lack of transactions, these accounts have become inactive and interest on them has also been stopped.
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RBI’s special campaign, search will continue till December 31
On the instructions of the Finance Ministry, RBI has started a special campaign, in which the real owners of inoperative accounts and their heirs will be identified. Banks have been instructed to go from village to village to make people aware so that the real beneficiaries can come forward. Under the campaign, account holders or their nominees can reactivate the account by reaching the bank and submitting the documents. Those accounts whose right claimants are found, the amount will be made available back by adding the interest of previous years.
How will ‘dead account’ come alive?
According to bank officials, to reactivate the inactive account, the account holder or his nominee will submit the following documents:
- copy of aadhar card
- PAN card copy
- KYC process again
- Claim Form available from the Bank
After these formalities the bank will seek approval of the unclaimed amount from RBI. As soon as the process is completed, the amount will be deposited again in the account.
Bank officers are making people aware
Regional head of Lead Bank, Sanjay Sinha said that a campaign to make people aware has started in the district. The aim of banks is that more and more account holders should come forward and utilize their idle capital again.
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