Answer: Reserve Bank of India (RBI)
Notes: The Reserve Bank of India (RBI) announced a year-long incentive scheme for banks to reduce unclaimed deposits. The scheme is called 'Scheme for Facilitating Accelerated Payout of Inoperative Accounts and Unclaimed Deposits'. Banks will receive differential payouts based on the duration an account remains inoperative and the amount of deposits. The scheme aims to reduce both existing unclaimed deposits and fresh inflows to the Depositor Education and Awareness (DEA) Fund. Banks are encouraged to contact depositors to reactivate inoperative accounts and return unclaimed amounts timely. As of June 2025, unclaimed deposits were over Rs 67,000 crore.
