Unclaimed money worth billions of rupees

- Non-inherited deposits in banks Rs 42,270 crore, Provident Fund Rs 21,500 crore, Insurance Rs 21,539 crore unclaimed

- One should discuss the details of one's bank account with one's wife or children and other close people, if the family member dies suddenly, it becomes very difficult for his heirs to get the account money.

- India's finance minister Nirmala Sitharaman last month told banks to find claimants of billions of rupees lying in banks. Go to his house and find his heirs. It is welcome that the government is trying to channel the money to the claimant, but the nominee system that has been set up now will only reach certain claimants...

Billions of rupees are falling in banks, insurance companies, PFs for which there is no claimant. It is called unclaimed money. As there is no claim for this money, it has become a matter of concern for the government. A dead body associated with the investigation of a crime is called lavarish. If no one comes to take possession of the dead body, it is considered unclaimed and the last action is taken. But no such final action can be taken in the matter of money.

Non-inherited deposits in banks... Rs 42,270 crore

Non-inherited amount in provident fund.....21,500 crore rupees

Unclaimed sum of insurance.....21,539 crore rupees

Even those who keep account of Kani Pai in the account leave heaps of money uninherited.

It is not only in India that there is a dispute about unclaimed money. It is not that banks are not willing to give money but no real claimant is emerging. India's Finance Minister Nirmala Sitharaman last month asked banks to find claimants for billions of rupees lying in banks. Go to his house and find his heirs.

It is welcome that the government is trying to channelize the money to the claimant, but the nominee system that has been set up now will only reach certain claimants.

According to the figures released by the banks, there is no claim for Rs 24,356 crore in scheduled commercial banks at the end of 2020. This amount today at 42,272 crores

has reached

The Reserve Bank of India has set up a Depositor Education and Awareness Fund. The purpose of which is to spread awareness for the nominee among the audience. The Reserve Bank has announced 100 Days 100 Pays ('100 Days 100 Pays') for unclaimed deposits. 31 big banks are supporting it because 90 percent of unclaimed money is in these 31 banks. An amount of 1432 crores has been paid under this scheme.

Small business people open accounts in some banks to get loans. He did not get the loan in the account of Rs. The minimum balance is 5000.

He forgets the money in this bank in the midst of many works. Banks rarely bother to check why the owner is not operating the account. Such is the case in the Provident Fund department. PF Branch never contact the pensioner. Those who cannot produce the survival certificate are liable to pay. If he dies then he declares the money as unclaimed.

Long queues are seen outside provident fund offices. Most of them are due to inheritance and not regularly depositing money in the account.

Now, by forcing the bank to write the nominee's name, in case of sudden death of the holder, his nominee can easily get his money.

Many people do not associate their family with their business needs. By saying that the wife should not know about the business, she was not given the details of the profit of the business or any information about the debt on the company. Businessmen themselves keep their family members away from important details like where they get the money and who they pay and how much interest they give.

As long as it goes straight, it is fine, but if a person dies suddenly, the aura is broken on his family. His wife and children rush to get money from the business. Hardly the details of one or two accounts are available but since there is no nominee in them, one has to go to the court and prepare the details including affidavit.

Such people are careless towards family. Where he has given money without writing, his family never gets it back. People who have two number of businesses and run two number of transactions of officials and politicians on raw paper than above income end up making their families cry.

People who have crores of rupees don't worry about going bankrupt, but upper middle class and middle class people don't get high from paying their debts.

It is said that one in ten people do not share their bank account details with their spouse, children and other close people. If the head of the family dies suddenly, it becomes very difficult for his heirs to access the account money.

Insurance companies also do not go ahead and meet the policy holder. If the agent is active then the flight amount is received. After reading this, it can be said that people are careless towards their family and live with the idea that nothing will happen to them, but when their life ends suddenly, their family is financially helpless.

lives

After reading this inform your family about bank account details, making nominees, insurance details etc. Who should understand and deal with it every day.