Forgotten Money in Old Bank Accounts? RBI Launches Initiative to Help You Recover It

by vellorecity | Nov 5, 2025 | News

The Reserve Bank of India (RBI) has stepped up efforts to help citizens reclaim money lying in dormant bank accounts for over 10 years. Funds from such accounts are transferred to the RBI’s Depositor Education and Awareness (DEA) Fund — but account holders and their families can still claim the amount at any time.

To simplify the process, RBI has urged the public to check for unclaimed deposits through its official portal UDGAM (https://udgam.rbi.org.in).

How to Claim Your Unclaimed Deposit:

– Visit any branch of the bank where the account was held
– Submit valid KYC documents such as Aadhaar, Passport, Voter ID, or Driving License
– Receive your unclaimed money (along with applicable interest)

In addition, banks across the country will conduct special camps from October to December 2025 to assist customers in locating and reclaiming their unclaimed deposits.

The RBI has advised the public to make use of this opportunity and retrieve their long-forgotten funds safely and quickly.

Gold and Silver Prices Continue to Decline in Chennai on November 5

by vellorecity | Nov 5, 2025 | News

After touching record highs in October, gold prices have continued their downward trend following the Diwali festival. The sharp increase seen last month has now eased, offering some relief to consumers.

On Monday (November 4), the price of 22-carat gold fell by Rs. 100 per gram, bringing the rate to Rs. 11,250 per gram. The price of a sovereign dropped by Rs. 800, selling at Rs. 90,000.

Continuing this trend, gold prices declined further today.

Gold Price Today (November 5)

22-Carat Gold

Price decrease: Rs. 70 per gram
New rate: Rs. 11,180 per gram
Sovereign price decrease: Rs. 560
New sovereign rate: Rs. 89,440

18-Carat Gold

Price decrease: Rs. 65 per gram
New rate: Rs. 9,325 per gram
Sovereign price decrease: Rs. 520
New sovereign rate: Rs. 74,600

Silver Price Today (November 5)

Silver prices have also fallen:

Price decrease: Rs. 2 per gram
New rate: Rs. 163 per gram
Price per kilogram: Rs. 1,63,000

The continuous decline in gold and silver prices is viewed as a correction after last month’s historic surge, and is expected to influence buying patterns in the coming days.

Link Your Aadhaar with PAN – Avoid Getting Your PAN Card Inactive

by vellorecity | Nov 4, 2025 | News

The Central Board of Direct Taxes (CBDT) has made it mandatory to link the Aadhaar card with the PAN card to promote greater transparency and accountability in the income tax filing process. This measure helps the government verify taxpayers’ identities, prevent duplicate PANs, and reduce tax evasion.

Linking both documents is crucial because if you fail to do so, your Income Tax Return (ITR) may be rejected, and your PAN card could become inactive. An inactive PAN means you won’t be able to file taxes, open bank accounts, or make financial transactions and investments that require a valid PAN.

As per the CBDT’s latest directive, all individuals who were issued a PAN on or before October 1, 2025, must link it with their Aadhaar by December 31, 2025. Missing this deadline could lead to serious financial and legal inconveniences.

For new PAN applicants after July 1, 2025, having an authenticated Aadhaar is compulsory. In such cases, the Aadhaar-PAN linking will happen automatically during the PAN application process, ensuring a smoother verification experience.