Over Rs1.5 Lakh Crore in Government, Welfare, and Charitable Funds Remains Unclaimed at RBI
A recent investigative report reveals that more than Rs1.5 lakh crore of government, welfare, and charitable funds are locked and unclaimed in accounts managed by the Reserve Bank of India (RBI). These funds, intended for public benefit, remain inaccessible due to systemic and procedural challenges. The article highlights the urgent need for transparency and reforms to ensure these resources reach their intended recipients and serve their original purposes.
The article delves into the little-known issue of vast sums—over Rs1.5 lakh crore—belonging to government agencies, welfare programs, and charitable organizations lying unclaimed with the RBI. Despite their intended use for public benefit, these funds remain inaccessible, apparently due to a combination of bureaucratic inertia, lack of public awareness, and unclear reclamation procedures. The report suggests that the current system lacks transparency, making it difficult for rightful beneficiaries or even the original agencies to reclaim these resources. It draws attention to the paradox of significant public money sitting idle while critical social and infrastructure projects remain underfunded. The article calls for urgent reforms, including digitization of records, public awareness campaigns, and streamlined claims processes. It also urges greater legislative oversight to ensure accountability and prevent further accumulation of unclaimed funds. By addressing these systemic failures, the article argues, India could unlock a substantial reservoir of resources to support development and welfare initiatives more effectively.
