Mumbai: The Reserve Bank of India (RBI) has encouraged citizens to check for unclaimed money in old or inactive bank accounts. They are launching a campaign to help people and their families recover forgotten
funds through the Depositor Education and Awareness (DEA) Fund.
Unclaimed Deposits with the RBI
The RBI states that funds from bank accounts inactive or inoperative for over 10 years are transferred by banks to the DEA Fund. However, depositors or their legal heirs can still claim these amounts at any time. The central bank clarified that such deposits continue to earn interest, if applicable, even after being transferred.
How to Track and Claim Forgotten Funds
To simplify the process, the RBI has launched an online portal, UDGAM. This portal allows users to check if they or their family members have unclaimed deposits across multiple banks. If they identify any, claimants can visit any branch of the respective bank with valid KYC documents such as Aadhaar, passport, voter ID, or driving license to start the refund process.
The RBI has also instructed banks to make claim procedures easier and help customers verify ownership of accounts. Once verified, the bank will release the funds to the rightful owner or nominee.
Nationwide Awareness Campaign
To raise awareness, the RBI and banks are holding special camps from October to December 2025 across the country. This initiative is part of the central bank’s broader effort to improve financial literacy and make sure public money does not remain idle or inaccessible.
Through its campaign “RBI Kehta Hai – Jankaar Baniye, Satark Rahiye,” the regulator encourages citizens to stay informed and watchful about their financial assets.
