Did you know that more than ₹67,000 crore is lying unclaimed in Indian banks as of June 2025? This huge amount belongs to people who forgot about their bank accounts or whose families never knew these accounts existed.
If you or someone in your family has an old account that hasn’t been used for years, the RBI is now helping people recover their forgotten money through a special nationwide campaign.
Why So Much Money Remains Unclaimed
One of the biggest reasons for unclaimed deposits is poor financial communication within families.
People open multiple accounts or make investments but don’t tell anyone about them.
When they forget or pass away, the family remains unaware, and the money stays untouched for years.
In many cases, even basic details like old passbooks, account numbers, or documents are missing.
RBI’s Special Assistance Camps
To solve this issue, the RBI is running special help camps across the country until December 31.
At these camps, people get:
Help in filling claim forms
Support for document verification
Guidance on nomination updates
Information about unclaimed deposits
Step-by-step assistance to recover funds
The goal is simple: return forgotten money to its rightful owners and make the process easier for everyone.
What Is a Dormant Account?
If a bank account has had no transactions for 2 years, it becomes dormant.
The money remains safe, but services get restricted.
If the account stays untouched for 10 years, the balance (with interest) is transferred to the RBI Depositor Education and Awareness (DEA) Fund.
But don’t worry.
You can still claim this money anytime.
There is no time limit.
How to Claim Your Money
To recover funds from an inactive or forgotten account:
Visit any branch of your bank
Submit your KYC documents (Aadhaar, Voter ID, Passport, etc.)
Fill the claim form
Submit nominee or legal heir documents (if required)
Once verified, the bank will release your money along with applicable interest.
RBI’s New Reward Scheme for Banks
To speed up the return of unclaimed money, RBI has launched a new incentive scheme from October 1, 2025:
If an account is inactive for 4 years, banks get 5% or ₹5,000 (whichever is lower)
If inactive for 10 years, banks get 7.5% or ₹25,000 (whichever is lower)
Banks can file for these incentives every quarter.
This scheme encourages banks to settle old inactive accounts faster.
Check Unclaimed Money Online Through UDGAM
The RBI has launched an online portal called UDGAM, where you can check if you have any unclaimed deposits.
How to use it:
Visit udgam.rbi.org.in
Register using your mobile number or Aadhaar OTP
Enter your name, date of birth, and other details
The portal will show any unclaimed deposits linked to your name
Currently, 30 major banks, including SBI, HDFC, and ICICI, are connected to this portal, covering nearly 90% of unclaimed deposits in India.
Avoid Confusion for Your Family in the Future
To ensure your family never faces trouble accessing your savings:
Maintain a written list of all bank accounts and investments
Inform your family members
Always update nominee details
Keep important documents safely
Regularly use or update each account to keep it active
