PSBs may be allowed to transfer unclaimed shares to IEPF

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......

Changes to banking laws have a consumer tilt

Better protection for depositors and investors was one of the chief considerations in Union Finance Minister Nirmala Sitharaman introducing, on Friday, the Banking Laws (Amendment) Bill, 2024, in......

Rs 200,00,00,00,000 unclaimed in stocks

The value of unclaimed securities and other assets was nearly Rs 20,000 crore (Rs 200 billion) in March 2020.It could be just the tip of a capital market iceberg. Illustration: Dominic......

Over Rs 20,000 crore lying unclaimed with LIC

The amount of money lying unclaimed with the Life Insurance Corporation of India dwarfs the budgets of many ministries. Photograph: Anushree Fadnavis/Reuters There was Rs 21,539.5 crore which lay......