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There is no claimant of 80 thousand crore rupees, Zerodha told the solution of the problem

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Zerodha: Recently, EPFO ​​had said that about Rs 26,497 crore is deposited in the PF account. Which has no claimants, and this amount is gradually increasing. Similarly, there are many fixed deposits in the bank, whose claimants are not appearing even after maturity. In this way, a total of more than 80 thousand crore rupees are lying unclaimed.

Zerodha
Image Source- Google | Image By- Trade Brains

Now Nitin Kamat, the co-founder of the broking firm Zerodha, has told the solution to this problem. He says that due to non-addition of nominees of many people, more than Rs 80,000 crore is lying unclaimed in bank, demat and other accounts.

Nitin Kamat said that in view of this problem, Zerodha has started an alert feature, which will inform the nominee if the demat account is not active. Kamat has expressed hope that soon banks and other online brokerage firms will also adopt this feature. So that the unclaimed amount can be settled.

Zerodha
Image Source- Google | Image By- TopShareBrokers

Actually, Zerodha has given a special facility to its customers under which account holders can add or change the nominee in their account online. Not only this, if a demat account is not activated due to non-transaction for one year, then its information will be given to the nominee through SMS or email.

Nitin Kamat says that a major reason for not being a claimant for the unclaimed amount may be that the nominee is not aware of this. That’s why Zerodha has started the alert feature, so that in such a situation information can be conveyed to the nominees of all the customers.

It is worth noting that in the country, about Rs 26,497 crore with EPFO, Rs 18,381 crore in all bank accounts, Rs 17,880 crore in mutual funds and Rs 15,167 crore with insurance companies lying unclaimed. Unclaimed deposits of Rs 4,820 crore in matured fixed deposits.

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