Rs 1,000 crore lying unclaimed in post offices, says Minister

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More than Rs 1,000 crore is lying unclaimed in post offices under various savings schemes of the postal department, Parliament was informed today.

In a written reply to Rajya Sabha, Union Communications and IT Minister Ravi Shankar Prasad said Rs 1,000.61 crore has been lying unclaimed in post office savings bank, which includes Rs 894.59 crore for Indira Vikas Patra, Rs 60.02 crore for 5 years National Savings certificate, Rs 24.20 crore for fixed deposit, among others.

He said the main reason for unclaimed amount was non-withdrawal of money by depositors after maturity of their investment in small savings schemes discontinued long back.

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