A savings or current account with no customer-induced transaction for more than 24 months is classified as inoperative.
Following devastating floods in Nepal, Kathmandu has initiated mass burials for unidentified victims as morgues have exceeded capacity. Security forces are burying bodies with markers and collecting DNA samples for future identification. The government has amended the Unidentified and Unclaimed Bodies Management Guidelines, 2021, to facilitate the management of disaster victims, including provisions for autopsies, DNA collection, and temporary burial with identification markers.
An unidentified woman, found dead in the Bhakra Canal near Jhansa last week, is now suspected to have been murdered. A post-mortem report indicates she died from a fatal head injury, not drowning, and showed signs of restraint. Police are investigating, checking missing persons records in Punjab, and reviewing CCTV footage as no one has claimed the body.
A suspected Pakistani boat was found abandoned in a creek area along the coast of Gujarat's Kutch district. The Border Security Force has launched an investigation into the incident and has stepped up security in the area.
Eleven days after devastating floods triggered by an ice-rock avalanche, Nepal continues to grapple with a rising death toll of 1,344 and nearly 5,000 missing. Authorities face significant challenges in identifying the deceased, with many bodies severely damaged. DNA samples are being collected from relatives to aid identification, while the government mobilises relief and rehabilitation efforts. A fresh flood incident in Gorkha district also caused damage.
Devastating Bhote Koshi floods in Nepal have led to a surge in recovered bodies, overwhelming morgues across several districts. Authorities are setting up temporary facilities and preparing for the management of unidentified remains as identification efforts continue.
Nepal is grappling with the devastating aftermath of flash floods, with the death toll reaching 1,356 and nearly 5,000 people, including foreign nationals, still missing. Identification of bodies is a major challenge, with only a fraction identified so far. President Ramchandra Paudel has appealed for climate justice and national unity for relief efforts. International teams, including experts from India and China, are assisting in search and rescue, particularly at hydropower projects where workers are trapped. The country is also working to restore infrastructure and reassure tourists to protect its vital autumn tourism season.
The Delhi government has notified detailed guidelines for the Delhi Lakshmi Yojana, outlining strict provisions for beneficiaries found ineligible, including discontinuation of financial assistance, recovery of disbursed funds, and potential fraud charges. The scheme provides Rs 2,500 monthly to eligible women, with specific rules for fund disbursement via RD/FD accounts and CBDC wallets, along with clear eligibility and exclusion criteria.
Descendants of a Madhya Pradesh businessman are seeking repayment from the UK government for a Rs 35,000 loan made during World War I. The UK Debt Management Office has responded, asking for further documentation to examine the claim, which the family estimates to be worth crores today with interest.
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
Satluj is a chilling reminder of what happens when a state is allowed to become judge, jury and executioner, asserts Sreeju Sudhakaran.
Police in Gujarat's Kutch district seized 20 packets of charas, each weighing one kilogram, from an island off the Jakhau port. The contraband is estimated to be worth Rs 2.5 lakh per kilogram in the international market.
Customs officials at Delhi's IGI Airport seized suspected marijuana worth Rs 18.57 crore from abandoned trolley bags inside an aircraft arriving from Bangkok.
Police in Jharkhand have arrested four more people in connection with the lynching of an elderly woman suspected of being a child-lifter, bringing the total number of arrests to eight. The incident occurred in Lagaba village, Gumla district, where the woman was beaten to death by villagers.
The Central Board of Indirect Taxes and Customs (CBIC) has eliminated the Rs 10 lakh value cap per consignment for courier-based commercial exports, effective April 1, aiming to significantly boost e-commerce shipments, particularly for MSMEs and artisans.
Markets regulator Sebi board on Wednesday approved a series of measures aimed at improving investor convenience, easing compliance norms, and deepening participation in the capital and debt markets.
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
The finance ministry is considering amending the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, which governs public-sector banks (PSBs), to make suitable provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund (IEPF) when dividends of such shares remain unclaimed by the investors for seven consecutive years. "While Section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, allows the transfer of unclaimed dividends to the IEPF, it, however, does not mention a provision for transferring unclaimed shares and may now be amended by the next government to allow such transfers to happen," said a person familiar with the matter.
A UN Security Council report indicates that Pakistan-based Jaish-e-Mohammed (JeM) was reportedly linked to a terror attack on the Red Fort in New Delhi. The report also highlights JeM's activities, including the establishment of a women-only wing and its presence in the region.
I stumbled upon shares worth around Rs 300,000 in my late father's name, which are currently with the Investor Education & Protection Fund, points out Harsh Roongta.
Authorities in Jammu and Kashmir on Wednesday began the exercise of inspecting the lockers of doctors and medical staff in hospitals as part of enhanced security measures after the recent Delhi blast and recovery of arms and ammunition in the 'white collar' terror module, officials said.
Not just unclaimed bank deposits, there are thousands of crores of rupees locked in unclaimed shares and insurance policies lying with many institutions across India.
Investors should keep updating their personal and bank details with fund houses. They should also opt for the auto-pay facility so that the dividend proceeds get credited into their account directly, advises Bindisha Sarang.
The move is aimed at making settlement of claims or return of articles from a locker smooth for relatives after the death of a customer.
Beginning next month, a bank customer can opt for up to four nominees in her or his account with a view to ensure uniformity, and efficiency in claim settlement across the banking system. The key provisions relating to Nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025, a finance ministry statement said on Thursday.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. There was Rs 21,539.5 crore which lay unclaimed with India's largest insurance company, according to details in the initial public offer (IPO) document it filed over the weekend. The regulatory documentation is ahead of LIC selling shares to the public through the stock exchange for the first time this financial year. This will be India's largest ever public listing.
In a statement, the UNAU Tribal Women's Forum, Delhi-NCR, said the mothers of the Kuki-Hmar-Zomi community of Manipur, represented by the group, are "deeply hurt and appalled" by the remarks made by the solicitor general in the Supreme Court on August 1.
A newborn girl died after being bitten by rats at a government-run hospital in Indore, India. The father has accused the hospital of negligence, and a tribal outfit has staged a protest demanding compensation.
The process of cremation of unidentified bodies of the train accident which began on Tuesday evening was completed at about 8 am on Wednesday, BMC Mayor Sulochana Das said.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
The railways initially called a team from the Unique Identification Authority of India to the site to take thumbprints of the dead to ascertain their identity.
'Self-declaration from the customer in case of no change in KYC information or change only in the address details may be obtained.'
Police naik Sandhya Sheelvant, attached to the Shahu Nagar police station in central Mumbai, has been performing the last rites -- four in one day and and her dedication to her duty was admirable.
Odisha is facing a morgue crunch as a large number of unclaimed dead bodies from Balasore's triple train accident, have piled up at its mortuaries.
Panic gripped the international airport in Amritsar on Thursday after an unclaimed piece of baggage arrived on a SpiceJet flight from Dubai.
In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
An unclaimed bag was found outside the Bharatiya Janata Party headquarters on Ashoka Road in New Delhi on Wednesday morning, triggering panic in the area. The police got a call about the bag around 8 am following which a bomb squad and dog squad were rushed to the spot.
Banks have as much as Rs 3,652 crore (Rs 36.52 billion) of unclaimed deposits lying with them, with the State Bank of India (SBI) alone accounting for about 15 per cent of the amount, the government informed Parliament on Friday.
