The finance ministry informed Parliament of a surprising 28% increase in unclaimed deposits to Rs42,270 crore on 31 March 2023 (against Rs32,934 crore during FY21-22). Get ready for an even more staggering truth: this figure of unclaimed deposits represents a mere quarter of the money that is locked away in ‘inoperative’ bank accounts.Watch this week’s video as Sucheta Dalal explains how inoperative bank accounts are a bigger mess than unclaimed deposits.
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