More than ₹67,004 crore remains unclaimed in Indian banks, prompting the government and the Reserve Bank of India to expand efforts to help rightful owners
New Delhi: India’s banks are holding more than ₹67,004 crore in unclaimed deposits, according to the latest information shared by Minister of State for Finance Pankaj Chaudhary in the Rajya Sabha.
This includes money in savings accounts, current accounts, and matured fixed deposits where no transactions or claims have been made for over ten years.
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Of the total unclaimed amount, public sector banks hold ₹58,331 crore, while private banks account for ₹8,673 crore. Among public banks, the State Bank of India has the largest share at ₹19,330 crore, followed by Punjab National Bank (₹6,911 crore) and Canara Bank (₹6,278 crore). In the private sector, ICICI Bank holds ₹2,063 crore, HDFC Bank ₹1,610 crore, and Axis Bank ₹1,360 crore.
Over the last three years, banks have made efforts to return these funds to rightful owners. Under the ‘Your Money, Your Rights’ campaign initiated by the Reserve Bank of India (RBI), public sector banks have returned ₹9,456 crore, while private banks have returned ₹841 crore.
To make it easier for citizens to locate and claim unclaimed deposits, the RBI has launched the UDGAM portal. The portal allows individuals to search unclaimed accounts using name, mobile number, and date of birth. If the information matches bank records, the rightful owner or legal heirs can initiate a claim directly with the bank.
What happens to unclaimed money?
If deposits remain unclaimed for ten years, they are transferred to the Depositor Education and Awareness (DEA) Fund, also managed by the RBI. Despite this transfer, original account holders or legal heirs can still claim the full amount at any time from the bank. Banks are required to pay the money along with applicable interest and may later recover the funds from the DEA Fund.
There is no time limit for claiming unclaimed deposits, ensuring that citizens or their heirs can recover money even decades later. The initiative is part of the government’s broader effort to increase financial inclusion and ensure transparency in banking operations.
With the UDGAM portal, individuals can now take immediate steps to check for unclaimed money, potentially recovering funds that have been sitting idle in banks for years.
Published: 03 Dec 2025, 08:02 am IST
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