The Reserve Bank of India (RBI) has initiated a nationwide campaign to return Rs 67,270 crore in unclaimed bank deposits to rightful owners, nominees, and legal heirs. This drive, running from October to December 2025, aims to improve financial inclusion and restore dormant funds to the public.
What Are Unclaimed Deposits?
Unclaimed deposits refer to balances in:
- Savings or current accounts inactive for 10 years or more
- Fixed deposits not claimed within 10 years of maturity
- Accounts with no customer-initiated transactions for a decade
These funds are transferred to the Depositor Education and Awareness (DEA) Fund, managed by RBI.
Key Features of the RBI Drive
What Depositors Should Do
- Visit the UDGAM portal to search for unclaimed deposits across multiple banks
- Update KYC details to enable claim processing
- Submit identity proof and account documents at the nearest bank branch
- Respond to SMS, email, or local awareness campaigns initiated by banks
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Final Takeaway
RBI’s latest initiative to return ₹67,270 crore in unclaimed deposits reflects its commitment to transparency, financial empowerment, and depositor protection. Citizens are encouraged to check their dormant accounts and complete KYC to reclaim their rightful funds.