Tracking unclaimed deposits

A belated "timely" move! https://www.moneylife.in/article/rbi-to-develop-a-centralised-portal-to-search-unclaimed-deposits/70365.html Just think about it. Thousands of crores of the small household savings remaining unclaimed and getting appropriated by government and institutions after some time. These include Bank deposits, money with LIC and PFs and deposits with several organisations in public and private sectors. Yes, this includes the balance in my mother's (She passed away during the last Century) SB Account also. When I approached the bank as nominee they told me I should produce a heirship certificate. I allowed the system to appropriate the balance for customer education! M G Warrier

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