In a significant step towards resolving the issue of unclaimed deposits, the Reserve Bank of India (RBI) unveiled its ambitious ‘100 Days 100 Pays’ campaign on Thursday. The initiative aims to expedite the tracing and settlement of the top 100 unclaimed deposits from every bank in every district within a span of 100 days. This proactive measure aligns with the RBI’s ongoing commitment to reduce the volume of unclaimed deposits within the banking system and facilitate their return to their rightful owners or claimants.
Recognizing the importance of reuniting unclaimed deposits with their rightful beneficiaries, the RBI has taken this decisive step to accelerate the resolution process. Through the ‘100 Days 100 Pays’ campaign, the RBI seeks to streamline and expedite the identification and settlement of the highest priority unclaimed deposits across the country.
The campaign’s framework entails comprehensive collaboration between the RBI, banks, and authorities at the district level. By leveraging advanced technology and data analytics, the RBI aims to identify and prioritize the top 100 unclaimed deposits in each district. This meticulous approach will ensure that efforts are concentrated on resolving the most significant cases within the stipulated timeframe.
The primary objective of the campaign is to ensure that unclaimed deposits are rightfully returned to their owners or claimants. By expediting the settlement process, the RBI aims to alleviate the burden on the banking system and facilitate a seamless transition of unclaimed funds to their rightful beneficiaries. This initiative not only strengthens the trust between banks and their customers but also enhances the overall efficiency and integrity of the banking sector.
The ‘100 Days 100 Pays’ campaign represents the RBI’s unwavering commitment to transparency, accountability, and customer-centricity. It reinforces the importance of safeguarding the interests of individuals who may have unintentionally left behind their deposits or faced challenges in claiming their rightful funds. Through this initiative, the RBI strives to promote financial inclusivity, ensuring that no funds go unutilised or remain unclaimed.
The success of the campaign rests on the collective efforts of banks, regulatory authorities, and the public. Banks are expected to proactively collaborate with the RBI and provide the necessary support to identify and settle the top 100 unclaimed deposits in each district. Concurrently, individuals are encouraged to come forward and claim their deposits by providing the required documentation and verifying their ownership.