Finance Minister Nirmala Sitharaman chaired the 27th meeting of FSDC
New Delhi. Union Finance Minister Nirmala Sitharaman chaired the 27th meeting of the Financial Stability and Development Council (FSDC). The high powered FSDC meeting chaired by the Finance Minister emphasized the need to launch a drive to help unclaimed amounts lying with banks and other financial institutions reach the people concerned.
Economic Affairs Secretary Ajay Seth gave information about the discussion held in the FSDC meeting on Monday in a press conference held here. Seth said that the failure of banks in the US has no bearing on the Indian financial system. He said that there was an opinion in the meeting that the government should take quick steps to bring necessary legislative changes to implement the proposals announced in the Union Budget.
Seth said that FSDC is of the opinion that a campaign should be launched in this regard, so that the unclaimed amount with the financial institutions can be given to the concerned people. He said that the nominee is not aware of any such deposits or shares or dividends. In such a case, opinion was expressed in the meeting regarding the operation of the campaign.
In this high-level meeting with Sitharaman, Minister of State for Finance Pankaj Chaudhary, Minister of State for Finance Bhagwat Kishan Rao Karad, Reserve Bank of India (RBI) Governor Shaktikanta Das, Finance Secretary, Department of Economic Affairs Secretary Ajay Seth, Chief Economic Advisor of the country Along with senior officials of the Ministry of Finance were also present.
It is worth mentioning that till February 2023, public sector banks had transferred an unclaimed amount of about Rs 35,000 crore to the Reserve Bank. This amount was deposited in such accounts, in which there was no transaction for 10 years or more. 10.24 crore unclaimed amount was linked to the account. RBI had said last month that a centralized portal related to this would be prepared in three-four months. With this, depositors and beneficiaries can get information about unclaimed deposits lying with different banks.
Read the Latest India News Today on The Eastern Herald.
