India's Unclaimed Bank Deposits in RBI Fund Reach ₹98,073 Crore
India's Reserve Bank holds nearly ₹98,073 crore in forgotten bank deposits. The government and RBI are streamlining processes for individuals to reclaim these funds.
Large Unclaimed Funds Pile Up
India's Reserve Bank (RBI) manages a significant ₹98,073 crore in unclaimed bank deposits. These funds have been transferred to the RBI's Depositor Education and Awareness (DEA) Fund. The finance ministry reported this figure as of 31 January 2026. This amount shows an increase from ₹90,545 crore recorded by 30 June 2025.
Separately, government data cited ₹86,917.08 crore in the fund as of 30 June 2026. These figures represent different reporting periods, not a continuous series.
Reasons for Dormancy
Deposits often remain unclaimed due to outdated contact details, forgotten accounts, or the death of account holders. Nominees or legal heirs may lack knowledge of an account or the documents required to establish a claim. A savings or current account becomes inoperative after two years without customer-initiated transactions.
If the balance remains unclaimed for ten years, banks must transfer the eligible amount to the RBI's DEA Fund. The money, however, is not lost; claimants can still approach the concerned bank.
Streamlined Reclamation Process
The RBI has implemented measures to simplify the reclamation process. Banks must conduct special drives to trace claimants and regularly publish unclaimed deposit details on their websites. Where contact information is available, banks must reach out quarterly via letters, email, or SMS.
An RBI incentive scheme, introduced in October 2025, pays banks 5-7.5% of the claimed amount, subject to a cap, for each successfully settled claim. This encourages banks to actively trace rightful claimants and accelerate settlements.
Digital Tools and Public Campaigns
The RBI's UDGAM portal allows customers to search for unclaimed deposits across multiple participating banks from a single platform. This portal serves as a search facility; claimants must still approach the relevant bank to process claims. The government also conducted a nationwide “Your Money, Your Right” campaign between October and December 2025.
This initiative organised special camps across 748 districts to help individuals trace and claim forgotten financial assets, including bank deposits, insurance proceeds, mutual funds, shares, and dividends. By 28 February 2026, government data showed ₹5,777 crore from 22.95 lakh claims had been returned.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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