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Podcast: Moneylife News Bites
Episode: Over Rs1 Lakh Crore Lying in Inoperative Bank Accounts on Way To Becoming Unclaimed Funds
Description: 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. Listen to this week's episode as Sucheta Dalal explains how inoperative bank accounts are a bigger mess than unclaimed deposits. Hosted on Acast. See acast.com/privacy for more information.