Rs 32,000 crore as unclaimed deposits with banks and insures
Banks and insurance companies hold around Rs 32,000 crore as unclaimed deposits, the government informed the Lok Sabha on Monday.
Commercial banks have Rs 14,578 crore as unclaimed deposits in 2018 as against Rs 11,494 crore in 2017. Both life and generalNSE 0.00 % insurance firms hold Rs 17,887 crore as unclaimed deposits since September 2018.
Country’s largest insurer, Life Insurance Corporation (LIC) alone holds Rs 12,892 crore as unclaimed deposit. For banks it is the largest lender, State Bank of IndiaNSE 0.04 % which holds Rs 2,156 crore crore under this category.
