Section 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 1[in India] which have not been operated upon for ten
years, 2***:
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:
3 [Provided further that every regional rural bank shall also furnish a copy of the said return to the
National Bank.]
Notes:
1. Subs. by Act 20 of 1950, s. 3, for "in the States" (w.e.f.18-3-1950).
2. Certain words omitted by Act 55 of 1963, s. 14 (w.e.f. 1-2-1964).
3. Ins. by Act 61 of 1981, s. 61 and the Second Schedule (w.e.f. 1-5-1982).