New Delhi, Dec. 30 -- The Reserve Bank of India (RBI) has revealed that unclaimed deposits across Indian banks reached a staggering Rs.62,314 crore by the end of 2024. These funds are held in accounts that have remained inactive for 10 years or more.

Public sector banks hold the vast majority of this money, totalling Rs.50,907.91 crore. The State Bank of India (SBI) leads the list with Rs.16,968.41 crore in unclaimed funds, according to the RBI's year-ender report.

These unclaimed deposits have been growing rapidly in the past few years. It has grown more than double in the past three years, since 2021, when the corresponding data stood at Rs.31,077.88 crore.

It is worth remembering that Union Finance Minister Nirmala Sitharaman launch...