New Delhi: Unclaimed savings parked across India’s banking system have climbed steadily over the years, with more than ₹72,454 crore currently lying with the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund. The government and the RBI have now intensified efforts to reconnect this money with its rightful owners through a nationwide outreach drive and a centralised digital platform.
In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said deposits in savings and current accounts that remain inactive for over 10 years, as well as fixed deposits left unclaimed for a decade after maturity, are classified as “unclaimed deposits” and transferred by banks to the RBI-managed DEA Fund.
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As of January 28, 2026, public sector banks accounted for the bulk of such balances at ₹60,571.02 crore. Private banks held ₹9,607.76 crore, while foreign banks reported ₹2,275.01 crore. Taken together, the total unclaimed amount with the DEA Fund stands at ₹72,454 crore.
To address the growing pile-up, the RBI has rolled out a centralised web portal — UDGAM (Unclaimed Deposits – Gateway to Access InforMation) — allowing customers and their families to search for dormant deposits across multiple banks on a single platform. Officials said the portal is expected to significantly simplify the discovery process, especially for heirs who are often unaware of accounts held by deceased relatives.
In parallel, the Banking Laws (Amendment) Act, 2025 has introduced the option of up to four nominees per account, either jointly or sequentially. The move is aimed at easing succession procedures and reducing the chances of deposits slipping into inactivity due to documentation hurdles or ownership disputes.
Funds accrued in the DEA pool are being channelled back into depositor-centric initiatives, including financial literacy programmes for underserved communities, awareness campaigns on safe banking practices, and research projects focused on strengthening consumer protection in the financial system.
Replying to another question, Chaudhary said loans extended by banks to the National Cooperative Development Corporation (NCDC) — which in turn lends to cooperative institutions — will qualify as priority sector lending from January 19, 2026. The change is expected to boost credit flow to cooperatives and provide fresh momentum to the rural economy.
He added that the government and the RBI are jointly working to improve the financial health, governance standards and digital penetration of cooperative banks, alongside steps to enhance deposit safety and tighten regulatory oversight.
The minister also updated Parliament on the National Investment and Infrastructure Fund (NIIF), stating that its total corpus had reached ₹33,249 crore by December 2025. NIIF’s four funds have invested in 24 entities across sectors such as ports and logistics, renewable energy, roads, digital infrastructure, healthcare, e-mobility and manufacturing.
On retail credit trends, Chaudhary said unsecured personal loans of scheduled commercial banks rose to ₹9.53 lakh crore by March 2025. However, their share in overall retail advances declined to 25.2 per cent from 28 per cent in 2023, reflecting tighter risk management and supervisory measures.
The RBI continues to closely monitor systemic risks and stands ready to recalibrate risk weights, strengthen internal controls and deploy targeted regulatory interventions to preserve financial stability.
With unclaimed deposits crossing the ₹72,000-crore mark, policymakers are now sharpening their focus on awareness drives, simpler claim processes and stronger nomination frameworks — aiming to ensure that hard-earned savings do not remain stranded in institutional accounts and are returned to legitimate claimants in a timely manner.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
