Module: General Practice
Q26: The Budget 2026-27 announced amendments to the Banking Regulation Act, 1949 regarding "Unclaimed Deposits." The "DEAF Scheme" mentioned in this context refers to which fund maintained by the RBI?
✅ Correct Answer: A
DEAF stands for Depositor Education and Awareness Fund.
The Union Budget 2026-27 mandates that banks transfer credit balances in accounts not operated for 10 years or more to this fund.
The budget also proposed a centralized "Udgam 2.0" portal integration for faster settlement of these claims.
The Union Budget 2026-27 mandates that banks transfer credit balances in accounts not operated for 10 years or more to this fund.
The budget also proposed a centralized "Udgam 2.0" portal integration for faster settlement of these claims.