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DEPOSITOR EDUCATION FUND
Have unclaimed deposits, insurance, mutual funds? Government launches single portal to trace forgotten assetsThe Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', ...- UDGAM portal facilitates users to search unclaimed deposits across multiple banks: RBI to SCThe submissions were made before a bench of Justices Vikram Nath, Sandeep Mehta and Vijay Bishnoi which was hearing a plea filed by journal...
- RBI launches scheme to reduce stock of unclaimed deposits by incentivising banksThe Reserve Bank of India launched a year-long incentive scheme for banks, effective October 1, to reduce unclaimed deposits. Banks will re...
- Is there a time limit for depositor to claim unclaimed amount from DEA Fund? RBI releases important FAQsWhat is Depositor Education and Awareness Fund: The deposits becoming due to be transferred to DEA Fund (i.e., unclaimed for 10 years), in ...
- Banks get Rs 5,729 cr for refund of unclaimed deposits; how you can claim amount in unclaimed savings account, FDsThe Reserve Bank of India (RBI) notified the "Depositor Education and Awareness Fund Scheme, 2014," which covers unclaimed deposit norms an...
- How to claim unclaimed money from bank savings accounts, FDsThe Reserve Bank of India has asked banks to identify accounts that have not had any customer-initiated transactions in over ten years. As ...
- How much interest rate is applicable on unclaimed amounts in savings account, fixed depositsThe banks will transfer unclaimed funds to special account designated by the Reserve Bank of India dubbed as the Depositor Education and Aw...
- Unclaimed bank deposits: RBI launches campaign to return amount in unclaimed deposits to their rightful claimantsThrough its public awareness campaigns, the Reserve Bank encourages members of the public to locate and contact the relevant bank for claim...
- View: Some fiscal incentives are necessary to motivate people to buy health insuranceDespite increased interest in health insurance after the pandemic broke out, very little has translated into business for insurers. YoY inc...
- Interest rate on unclaimed funds lying with banks cut to 3.5% from 4%Any amount remaining unclaimed for more than ten years shall be credited to the Depositor Education and Awareness Fund.
- 5 more entities get RBI grant under depositors' awareness fundThe apex banking regulator said the selection process involved a scrutiny by an internal team of the RBI followed by an assessment of the a...
- RBI invites applications for financial assistanceIn the first tranche in January this year, RBI found 20 institutions suitable for registration to get assistance from the fund.
- 20 entities get RBI nod for financial grant from DEA FundRBI released the names of 20 entities that have been approved by the DEA Fund Committee for registration for seeking financial assistance.
- RBI sets up fund to educate bank depositorsBanks have been directed to transfer inoperative deposit accounts and balances (along with interest) that are unclaimed for 10 years or mor...
- RBI asks banks to be cautious on inoperative account paymentsThe RBI directive came in the wake of rising cases where banks claimed substantial refunds from the Depositor Education and Awareness Fund,...
- RBI seeks comment on draft criteria to use Depositor Education FundThe criteria for registering institutions, organisations and associations for grant of financial assistance is part of the Depositor Educat...
- Interest on claims in DEAF only from date of account transfer: RBIThe RBI had asked banks to remit deposits classified as unclaimed to the Depositor Education and Awareness Fund (DEAF) by June 30, 2014.
- Unclaimed bank money to be used for depositors education: RBIUnclaimed bank deposits, which are estimated at Rs 3,500 crore, will be utilised for education and awareness of depositors, the Reserve Ban...
- RBI proposes to use unclaimed money on depositors' educationThe RBI proposed that unclaimed bank deposits, estimated at over Rs 3,500 crore, be utilised for education and awareness of depositors.
- New a/c for 1,400cr lying unclaimed with banksFunds in deposit accounts that have not been operated for more than 10 yrs will be credited into a “depositor education and awareness fund”...
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