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Banking: Give Names of Unclaimed Deposit Accounts on Website: RBI
To help people who have unclaimed deposits lying with banks, the Reserve Bank of India (RBI) directed banks to prominently display such account-holders’ names on their websites and provide them with a ‘Find’ option to locate the information easily, RBI said in a notification.
 
Keeping public interest in view, it has been decided that banks should play a more proactive role in finding the whereabouts of the account-holders of unclaimed deposits/ inoperative accounts, RBI said. “Banks are, therefore, advised that they should display the list of unclaimed deposits/inoperative accounts which are inactive/ inoperative for ten years or more on their respective websites,” it added.
 
As per government estimates, banks had Rs5,124 crore in unclaimed deposits lying with them as of 31 December 2013.

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Banking: RBI Allows Indians To Invest up to $250,000 a Year Abroad
“ICICI “On a review of the external sector outlook and as a further exercise in macro-prudential management, it has been decided to enhance the limit under the Liberalised Remittance Scheme (LRS) to $250,000 per person per year,” RBI said in its bi-monthly monetary policy statement.
 
In mid-January, India’s foreign exchange reserves touched a new high at $322.135 billion, driven by higher foreign fund inflows and lower forex outgo, on the back of a massive fall in global crude prices

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