Nearly Rs 1 lakh crore in bank deposits has been moved into the RBI’s Depositor Education and Awareness Fund, highlighting the growing challenge of managing dormant accounts and unclaimed savings, with banks urged to improve record updates and public awareness efforts.
Nearly Rs 1 lakh crore in bank deposits has now been moved into the Reserve Bank of India’s Depositor Education and Awareness Fund, a sign of how easily savings can slip out of sight when accounts are left dormant or families do not come forward to claim them. According to data placed before Parliament by the finance ministry, the balance in the fund reached Rs 98,073 crore as of January 31, 2026, up from Rs 90,545 crore on June 30, 2025.
The figures cover money that has sat untouched for years, often because contact details were never updated, account holders died without informing relatives, or heirs lacked the paperwork needed to complete a claim. The Reserve Bank has said old addresses, phone numbers and email details can make it difficult for banks to trace customers, while forgotten accounts and incomplete records also add to the problem. The Economic Times reported that deposits transferred to the fund include inactive savings and current accounts as well as term deposits not claimed within 10 years of maturity.
The RBI has stepped up pressure on banks to improve recovery efforts. In 2025, it directed lenders to run special drives to locate account holders, nominees and legal heirs linked to inoperative accounts, and to update details of unclaimed deposits on their websites every month. It also asked banks to widen public awareness and financial literacy campaigns, including help on how to reactivate dormant accounts and submit claims. The RBI’s revised instructions also require banks to transfer deposits left untouched for 10 years or more into the DEA Fund, while keeping the underlying claim rights intact for customers and heirs.
The issue has also sharpened the case for basic housekeeping by depositors. Families are better placed to recover money when bank records are current, nominee details are clear and financial documents are known and accessible. The RBI has also expanded tools to help people search for forgotten balances, including the UDGAM portal, which lets users look across participating banks for unclaimed deposits and then approach the relevant lender with the required documents.
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.
