Unclaimed deposits at banks worth Rs 1,723.24: Pranab

The government on Friday informed Parliament that around Rs 1,723.24 crore of depositors' money is lying as unclaimed with commercial banks.

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"The Reserve Bank has informed that as on December 31, 2010, a total amount of around Rs 17,23.24 crore in 1.03 crore accounts is lying as unclaimed deposits with the scheduled commercial banks," Finance Minister Pranab Mukherjee said in the Lok Sabha.

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On the total amount, he said, Rs 1,467 crore is lying as unclaimed deposits with the public sector banks and the rest is with private and foreign banks.

Private banks are sitting on unclaimed amount of Rs 195.9 crore and foreign banks have around Rs 60 crore till December 2010, he said.

State Bank of India and its associates have Rs 279.7 crore unclaimed deposits, followed by Canara Bank at Rs 274.6 crore and Union Bank of India at Rs 163.6 crore.

Among private sector banks, ICICI Bank has Rs 74.2 crore and ING Vysya Bank has Rs 30.12 crore as unclaimed deposits.