A whopping Rs 62,683.19 crore is lying unclaimed with Public Sector Banks (PSBs) across the country as of June 30, 2026.
As the amount of unclaimed deposits continues to rise every year, the Union Government and the Reserve Bank of India (RBI) have rolled out a series of measures to help depositors, nominees and legal heirs trace and recover their money.
The information was shared by Minister of State for Finance Pankaj Chaudhary in a written reply to an unstarred question raised by Rajya Sabha member Ryaga Krishnaiah.
The Minister said the unclaimed deposits are currently held in the Depositor Education and Awareness (DEA) Fund, maintained by the RBI.
“As informed by the Reserve Bank of India (RBI), the total amount of unclaimed deposits pertaining to Public Sector Banks (PSBs), held with the Depositor Education and Awareness (DEA) Fund as on June 30, 2026, is Rs 62,683.19 crore,” the Minister informed the House.
To reduce the growing stock of unclaimed deposits and ensure the timely settlement of claims, the Government and the RBI have introduced several reforms aimed at simplifying procedures and proactively identifying rightful claimants.
The Minister said the RBI has issued the Responsible Business Conduct Directions, 2025, standardising the process for the settlement of claims relating to deceased customers, including deposit accounts.
“The RBI has introduced an incentive scheme, ‘Scheme for Facilitating Accelerated Payout – Inoperative Accounts and Unclaimed Deposits’, on September 30, 2025, effective from October 1, 2025, offering banks an incentive of 5 to 7.5 per cent of the unclaimed deposit amount (subject to a prescribed cap) for every successfully settled claim,” he said.
The Minister further said that, through its Responsible Business Conduct Directions dated November 28, 2025, the RBI has advised banks to undertake several initiatives to identify unclaimed accounts. These include:
- Undertaking periodic special drives to trace customers, their nominees or legal heirs in respect of inoperative accounts and unclaimed deposits.
- Displaying and updating the list of unclaimed deposits on their websites at least once every month.
- Conducting regular public awareness and financial literacy campaigns to educate people about the activation of inoperative accounts and the procedure for claiming unclaimed deposits by depositors, nominees or legal heirs.
- Contacting holders of inoperative accounts or unclaimed deposits through letters, emails or SMS, wherever contact details are available, on a quarterly basis.
‘Your Money, Your Right’ campaign organised
The Minister said that, with the objective of empowering citizens to trace and claim their unclaimed financial assets, the Department of Financial Services, in coordination with the RBI and other financial sector regulators, organised a three-month nationwide campaign titled “Your Money, Your Right” from October to December 2025.
During the campaign, special camps were organised in 748 districts across the country to generate awareness and assist people in tracing and claiming their unclaimed financial assets.
As of June 30, 2026, unclaimed financial assets worth Rs 7,320 crore had been successfully restituted to their rightful owners by various financial sector regulators, significantly strengthening financial inclusion and citizen empowerment.
To make the search process easier, the RBI has launched the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal, enabling the public to search for unclaimed deposits across multiple banks through a single platform.