DBOD.No.BC.3/12.03.001/97-98

                                                               January 10, 1998
Pausha 20, 1919 (Saka)

All Commercial Banks

Dear Sir,

Section 26 of Banking Regulation Act. 1949 - submission of Return in Form IX-Unclaimed Deposits

As you are aware that in terms of Section 26 of Banking Regulation Act, 1949 every banking company is required to submit within thirty days after the close of each calendar year a return in prescribed form (form IX) and manner to the Reserve Bank of India as at the end of such calendar year of all accounts in India, which have not been operated upon for ten years.

2. In this connection, it is observed that many banks are not adhering to the prescribed time schedule which results in late submission of consolidated statement of unclaimed deposits to Government of India. You are, therefore advised to submit the return within the stipulated period, to the concerned regional office of this department and to us.

3. Non-compliance of our above instructions in the matter will be viewed seriously.

Yours faithfully

(D.V. Jhaveri)

General Manager