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Did you know that ₹67,000 crore (as of June 2025) lies unclaimed in banks? This is your and our forgotten wealth, which many people have left in bank accounts, forgotten, or whose nominees are unaware of. In many cases, due to a lack of old bank account details, documentation, or awareness, families are unable to access this idle money. If you or a family member's bank account has been inactive for more than 10 years, you can now easily recover the funds, and the RBI will help you with this.

What is the reason for the increase in unclaimed funds?
The biggest reason for the increase in unclaimed funds is the lack of financial communication among Indian families. Many times, people invest but do not inform their families. Due to a lack of information, the assets remain unclaimed for years in the absence of the main investor.

Now the RBI is running a special campaign.
The RBI is organizing special assistance camps until December 31st. Their objective is to ensure that lost funds are returned to the right hands, simplify the claim process, and strengthen financial literacy across the country. The camps provide customers with assistance in filling out claim forms, document verification, nomination procedures, and follow-up support, making it easier to recover lost funds.

What is an inactive account?
If a savings or current account has not seen any transactions (deposits, withdrawals, transfers, or KYC updates) for two years, it is considered an inactive account. While the funds in such accounts remain safe, many services are suspended. They become active again when the customer updates their KYC or makes a transaction. If the account remains unused for 10 years, the balance in the account (including interest) is transferred to the RBI's Depositor Education and Awareness (DEA) Fund.
Can you get your money back? Yes, bank customers or their legal heirs can withdraw their money at any time. There is no time limit.

To get your money back, you need to:
Visit any branch of your bank.
Submit your KYC documents (Aadhaar, passport, voter ID, driving license, etc.).
Fill out the claim form and submit the nominee or legal heir documents.
Get your money back (including interest, if applicable).

In addition, the RBI is organizing special camps between October and December where you can learn about the process and claim your money.

The RBI is rewarding banks for returning unclaimed funds. To reduce unclaimed funds in banks, the RBI has launched a new scheme from October 1, 2025. Under this scheme, banks that return money to customers in their dormant accounts will receive a reward. If the account remains dormant for four years, the bank will receive 5% or Rs 5,000, whichever is lower. If the account remains inactive for 10 years, the bank will receive 7.5% or Rs 25,000 (whichever is lower). Banks can file claims for the incentive every quarter. The RBI will make payments within 30 days after examining these claims. This scheme is intended to motivate banks to settle old inactive accounts and prevent the creation of new unclaimed balances in the future.

How to check if you have any unclaimed money?
The RBI has created a dedicated portal, UDGAM, to find unclaimed deposits. You can use it to find out about unclaimed funds in banks:

First, visit udgam.rbi.org.in.
Register with your mobile number or Aadhaar OTP.
Enter your name, date of birth, mobile number, and other details.
The portal displays inactive accounts, FDs, RDs, savings/current accounts, or other deposits linked to your name at various banks.

If there is any unclaimed money in your name, the bank's name and UDRN will be displayed.

Currently, 30 banks are connected to this portal, including major banks like SBI, HDFC, and ICICI. These banks cover approximately 90% of unclaimed deposits.

Take these steps to avoid family distress after you leave.

Make a written list of all bank accounts, PPF, mutual funds, and insurance policies.
Inform all key family members about this list.
Keep nominee information updated for every account.
Inform key family members of any changes to the bank or investment.
Keep documents in a safe and easily accessible place.
Regularly monitor account activity to prevent it from becoming inactive.

Disclaimer: This content has been sourced and edited from Amar Ujala. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.