Firstly, the deposits idle in these non-operated banks are called as unclaimed deposits. For these unclaimed deposits, RBI has launched a '100 Days 100 Pays’ campaign and during these period banks are required to settle these deposits. According to RBI's guidelines, balancies in savings and current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from the date of maturity are classified as “Unclaimed Deposits". Later on May 12, RBI announced a ‘100 Days 100 Pays’ campaign for banks to trace and settle these unclaimed deposits. However, as per the latest guidelines, under the campaign, only the 100 unclaimed deposits of every bank in every district of the country will be settled within 100 days.

Source: Mint May 20, 2023 20:04 UTC