India’s banking system holds a record ₹86,917 crore in unclaimed deposits, prompting regulatory drives to trace account holders and recover funds as the scale of dormant money climbs sharply.
India’s banking system is sitting on a large pool of forgotten money, with ₹86,917 crore in unclaimed deposits parked in the Reserve Bank of India’s Depositor Education and Awareness Fund as of June 30, Minister of State for Finance Pankaj Chaudhary told Parliament. State Bank of India accounted for the biggest share, with ₹20,040 crore transferred to the fund, followed by Punjab National Bank at ₹7,585 crore, Canara Bank at ₹6,830 crore, Bank of Baroda at ₹5,848 crore and Union Bank of India at ₹5,549 crore.
Among private lenders, ICICI Bank had ₹2,278 crore in unclaimed deposits, HDFC Bank had ₹1,912 crore and Axis Bank had ₹1,734 crore, according to Chaudhary’s written reply in the Rajya Sabha. Deposits in savings and current accounts that remain inactive for 10 years, or term deposits left unclaimed for 10 years after maturity, are transferred to the RBI-run fund, which is used to protect depositors’ interests and for related purposes.
The scale of the problem has risen sharply over time. Business Standard’s analysis in December said unclaimed bank deposits had more than doubled in five years, reaching ₹67,004 crore as of June 30, 2025, compared with ₹27,824 crore at the end of FY21. Public sector banks have consistently held the overwhelming majority of these balances, while SBI has remained the single largest holder.
Officials say efforts to return the money are gathering pace. Chaudhary said ₹17,415 crore had already been reimbursed from the DEA Fund to banks for sums paid to rightful claimants. The RBI has ordered banks to run special drives to trace account holders, nominees and legal heirs, update unclaimed-deposit lists on their websites every month and step up awareness campaigns. The finance ministry also launched a common portal earlier this year to help people track and recover unclaimed bank deposits, insurance claims, shares, dividends and mutual fund investments. The RBI’s UDGAM portal, launched in 2023, is also designed to help the public search for dormant deposits across participating banks.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
