Nearly ₹1 lakh crore worth of bank deposits has been transferred to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund, highlighting the scale of money lying untouched because account holders or their families have not claimed it.
Data shared by the finance ministry in Parliament showed that the amount transferred to the DEA Fund stood at ₹98,073 crore as of 31 January 2026, up from ₹90,545 crore as of 30 June 2025. Separate data cited in Parliament showed ₹86,917.08 crore had been transferred to the fund as of 30 June 2026. The figures relate to different reporting dates and should not be read as a continuous month-on-month series.
The government said outdated contact details, forgotten accounts and the death of account holders are among the reasons deposits remain unclaimed. In several cases, nominees or legal heirs may not know about an account or may not have the documents needed to establish their claim.
When does a bank deposit become unclaimed?
A savings or current account is generally classified as inoperative when there have been no customer-induced transactions for more than two years. If the balance remains unclaimed for 10 years, banks are required to transfer the eligible amount to the RBI’s DEA Fund.
The transfer does not mean that the money is lost. Customers, nominees and legal heirs can still approach the concerned bank and claim the amount. Once a valid claim is settled, the bank is reimbursed by the RBI from the DEA Fund.
The RBI has also taken steps to make the process easier. Banks have been directed to conduct special drives to trace account holders, nominees and legal heirs and periodically publish details of unclaimed deposits on their websites.
Where contact information is available, banks are required to reach out to customers through letters, email or SMS. Email and SMS communication is to be undertaken quarterly.
The RBI introduced an incentive scheme in October 2025 under which banks can receive 5%-7.5% of the unclaimed deposit amount, subject to a cap, for every successfully settled claim. The objective is to encourage banks to actively trace rightful claimants and speed up settlements.
How can you find forgotten bank deposits?
The RBI’s UDGAM portal allows customers to search for unclaimed deposits across multiple participating banks from a single platform. However, UDGAM is a search facility and does not itself process or settle claims. Once a deposit is located, the claimant has to approach the concerned bank and complete its claim process.
The government has also been working towards making recovery of unclaimed financial assets easier across different financial products. A nationwide “Your Money, Your Right” campaign was conducted between October and December 2025, with special camps organised across 748 districts to help people trace and claim forgotten assets.
As of 28 February 2026, unclaimed financial assets worth ₹5,777 crore relating to 22.95 lakh claims had been returned to rightful owners, according to government data. The financial assets covered bank deposits, insurance proceeds, mutual funds, shares and dividends.
For families, the key takeaway is to check old bank accounts and deposits of deceased relatives, particularly where nominee details may not have been updated. Keeping bank records, nomination details and succession documents updated can also reduce the chances of money becoming unclaimed in the first place.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.