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RBI imposes Rs 16 14 crore penalty on two banks for violation of norms; check details

RBI said the penalties are based on deficiencies in regulatory compliance.

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RBI finds serious lapses in regulatory compliance by ICICI Bank and Kotak Mahindra

RBI finds serious lapses in regulatory compliance by ICICI Bank and Kotak Mahindra
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MC Explains | What is RBI s central portal to track unclaimed deposits?

The portal will be ready in three or four months and help depositors or beneficiaries to get back unclaimed deposits, the RBI has said .

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MC Explains | Unclaimed deposits in banks fall to Rs 35,000 crore What does it mean?

An unclaimed deposit is one which does not see any activity like infusion of funds, withdrawal, etc. from the depositor for 10 years or more, and is deemed as an inactive deposit.

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Unclaimed deposits with Indian banks fell by Rs 13,250 crore in a year, shows govt data

Finance Ministry told parliament that unclaimed deposits amount in public sector banks goes to Rs. 35,012 crores as of February 2023.

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