Did you know that over ₹67,000 crore is lying unclaimed in Indian banks as of June 2025? Many people forget about their bank accounts, or their families are unaware of these deposits.
In some cases, missing documents or lack of awareness prevent families from accessing this money.
If an account has been inactive for more than 10 years, the RBI now offers a simple way to recover these funds.
Why So Much Money Remains Unclaimed
The main reason for the growing unclaimed deposits is poor financial communication within families.
Many individuals invest or save without informing their family members.
When the account holder forgets or passes away, these funds remain idle for years.
RBI’s Special Assistance Campaign
The RBI is running special camps until December 31, 2025, to help people recover forgotten funds.
These camps assist with:
Filling out claim forms
Verifying documents
Updating nominee information
Follow-up support to ensure money reaches the rightful owner
The goal is to simplify the process and strengthen financial awareness.
What Is a Dormant Account?
A savings or current account becomes dormant if it sees no transactions for 2 years. While the money is safe, most services are suspended.
The account becomes active again once a transaction is made or KYC is updated.
If the account remains inactive for 10 years, the balance (including interest) is transferred to the RBI’s Depositor Education and Awareness (DEA) Fund.
Good news: Bank customers or legal heirs can claim these funds at any time—there is no time limit.
How to Recover Your Money
To claim funds from dormant or inactive accounts:
Visit any branch of your bank
Submit KYC documents (Aadhaar, Passport, Voter ID, Driving License)
Fill out the claim form and provide nominee or legal heir documents
Receive your money along with applicable interest
The RBI also organizes special camps from October to December where you can learn more and claim your funds.
RBI Rewards Banks for Returning Unclaimed Money
To encourage banks to return unclaimed funds, the RBI introduced a reward scheme starting October 1, 2025:
If an account is inactive for 4 years, banks receive 5% or ₹5,000 (whichever is lower)
If inactive for 10 years, banks receive 7.5% or ₹25,000 (whichever is lower)
Banks can file claims quarterly, and RBI processes payments within 30 days.
This motivates banks to settle old accounts faster and reduce unclaimed deposits.
How to Check If You Have Unclaimed Money
The RBI offers a dedicated portal called UDGAM to check unclaimed deposits.
Steps to use UDGAM:
Visit udgam.rbi.org.in
Register with your mobile number or Aadhaar OTP
Enter your name, date of birth, and mobile number
The portal shows any inactive accounts, FDs, RDs, savings/current accounts, or other deposits linked to your name
Currently, 30 major banks, including SBI, HDFC, and ICICI, are connected to the portal, covering about 90% of unclaimed deposits.
Tips to Avoid Family Distress Over Money
To ensure your family can access your funds easily:
Maintain a written list of all bank accounts, PPFs, mutual funds, and insurance policies
Inform family members about this list
Keep nominee details updated
Inform family of any changes to bank accounts or investments
Store documents safely and accessibly
Regularly monitor account activity to prevent dormancy
