Question:
Which institution manages the unclaimed deposits in India?
Which institution manages the unclaimed deposits in India?
Updated On: June 02, 2025
- SEBI
- RBI
- Ministry of Finance
- BSE
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The Correct Option is B
Solution and Explanation
Unclaimed deposits in India are managed by the Reserve Bank of India (RBI), which acts as the custodian of such funds. These unclaimed deposits are transferred to a separate account after a period of inactivity. The RBI plays a crucial role in ensuring that these funds are handled and kept secure. RBI's role in managing unclaimed deposits ensures that financial institutions are held accountable and that customers' funds are protected.
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