Section 112: Statement of Unclaimed Deposits

(1) A bank or financial institution shall, within the first month of each fiscal year, submit to the Rastra Bank statement of deposit accounts which have remained unreported and of those the title to which have not been claimed under this Act for ten years.

2) A bank or financial institution shall publish a notice to collect the unused or unclaimed deposits as referred to in sub-section (1) once every five years in a national-level daily newspaper. Detailed descriptions of that shall also have to be kept by the bank or financial institution on its website.

3) In case the amount as referred to in sub-section (1) is not collected for a period of twenty years, such deposit shall be collected to the Banking Development Fund of the Rastra Bank and be used for banking development.