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Banking Regulation Act, 1949


26. Return of unclaimed deposits

Every banking company shall, within thirty days after the close of each calendar year, submit a return in the prescribed form and manner to the Reserve Bank as at the end of such calendar year of all accounts 113[in India] which have not been operated upon for ten years 114[* * *]:

PROVIDED that in the case of money deposited for a fixed period the said term of ten years shall be reckoned from the date of the expiry of such fixed period:

PROVIDED FURTHER that every Regional Rural Bank shall also furnish a copy of the said return to the National Bank.



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