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As a lot as Rs 36,185 crore unclaimed deposits had been with public sector banks whereas Rs 6,087 crore had been with personal sector banks on the finish of March 2023.
Banks ship unclaimed deposits of account holders mendacity of their accounts for 10 or extra years to RBI’s Depositor Schooling and Consciousness (DEA) Fund.
RBI has taken varied steps to cut back the quantum of unclaimed deposits and return such deposits to rightful claimants, Minister of State for Finance Bhagwat Okay Karad stated in a written reply to Rajya Sabha.
As per the RBI’s course, banks have been suggested to show the listing of unclaimed deposits in accounts which might be inactive or inoperative for ten years or extra on the banks’ web sites and discover the whereabouts of the purchasers, or authorized heirs in case of deceased account holders, so as to return unclaimed deposits to the rightful claimants.
RBI requested banks to formulate board authorised coverage on classification of unclaimed deposits; and put in place a grievance redressal mechanism for fast decision of complaints, document retaining, and periodic assessment of unclaimed deposit accounts, he stated. A centralised internet portal, Unclaimed Deposits Gateway to Entry Info (UDGAM), to go looking unclaimed deposits throughout a number of banks, has been arrange by RBI, he stated. Additional, he stated, RBI has launched marketing campaign ‘100 Days 100 Pays’ for banks to hint and settle the highest 100 unclaimed deposits of each financial institution in every district inside a 100-day timeframe, commencing from June 1, 2023 to September 8, 2023.
On the finish of marketing campaign, main 31 banks (which comprised of greater than 90 per cent of unclaimed deposit balances with the DEA Fund), have refunded Rs 1,432.68 crore within the marketing campaign.
Replying to a different query, Karad stated quoting RBI information, gross non-performing belongings (NPAs), together with these related to Prime Minister Employment Era Programme (PMEGP), of scheduled industrial banks (SCBs) was Rs 9,33,779 crore (Gross NPA ratio of 9.07 per cent) as on March 31, 2019, Rs 8,96,082 crore (Gross NPA ratio of 8.21 per cent) as on March 31, 2020 and Rs 8,35,051 crore (Gross NPA ratio of seven.33 per cent) as on March 31, 2021.
It additional got here all the way down to Rs 7,42,397 crore (Gross NPA ratio of 5.82 per cent) as on March 31, 2022, and Rs 5,71,544 crore (Gross NPA ratio of three.87 per cent) as on March 31, 2023, he stated.
It signifies that gross NPAs in SCBs have been declining through the years, he added.
Additional, he stated, slippage ratios (recent addition to NPAs as share of normal advances at first of the yr) of SCBs have declined from 3.74 per cent in monetary yr 2019-20 to 2.77 per cent in 2020-21 to 2.74 per cent in 2021-22 and to 1.78 per cent in 2022-23.
In a separate reply, Karad stated, as per Reserve Financial institution of India (RBI), information on frauds (Rs 1 lakh and above) reported by Scheduled Industrial Banks underneath the classes — “Playing cards/web – bank cards, playing cards/web – debit playing cards and playing cards/web – web banking- primarily based on date of reporting”, in the course of the 2021-22 and 2022-23 are 3,596 and 6,659, respectively.
Within the context of the evolution of general digital ecosystem, the variety of frauds reported is considerably outweighed by the substantial enhance within the variety of complete digital cost transactions throughout the identical interval.
Ministry of House Affairs has knowledgeable that ‘police’ and ‘public order’ are state topics as per the Seventh Schedule to the Structure of India.
States/UTs are primarily answerable for the prevention, detection, investigation and prosecution of crimes together with cyber frauds by their Legislation Enforcement Businesses (LEAs), he stated.
The central authorities dietary supplements the efforts of state governments by advisories and monetary help underneath varied schemes for capability constructing, he added.
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