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In addition to the decrease in hiring at the lower echelons of the organization, AIBEA General Secretary C.H. Venkatachalam had previously noted that certain banks’ outsourcing of work is endangering the privacy of their clients and their money.

According to an announcement from the RBI, the establishment of the web site would help customers find their unclaimed deposits and accounts so they may either collect the deposit money or activate their deposit accounts at their respective banks.

The Reserve Bank of India (RBI) has levied business restraints on five cooperative banks which has come into the effect from February 24 referring to feeble financial status.