NEW DELHI: Nearly ₹67,004 crore in unclaimed bank deposits are currently lying idle across public and private sector banks in India, as per recent data. These funds have neither been claimed by depositors nor by their nominees or legal heirs. The Reserve Bank of India (RBI) has been managing these unclaimed sums through its Depositor Education and Awareness (DEA) Fund.
SBI Leads Public Sector Banks in Unclaimed Funds
The highest amount is parked with the State Bank of India (SBI), where ₹19,329.92 crore remains unclaimed. Punjab National Bank follows with ₹6,910.67 crore, while Canara Bank holds ₹6,278.14 crore in dormant accounts.
Private banks are not far behind. ICICI Bank has unclaimed deposits worth ₹2,063.45 crore, and HDFC Bank holds ₹1,609.56 crore. Altogether, private banks account for ₹8,673.72 crore in unclaimed deposits.
These funds originate from savings accounts, current accounts, and fixed deposits that have remained inactive for over 10 years. Once this period elapses without any transactions or contact from the depositor, the money is transferred to the DEA Fund, which is administered by the RBI. Notably, this rule does not apply to non-banking financial companies (NBFCs).
Algoritha: The Most Trusted Name in BFSI Investigations and DFIR Services
UDGAM Portal Sees Growing Use
To help the public trace such unclaimed money, the RBI launched the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal. Users can search for dormant deposits by entering their name, date of birth, and related information. As of July 1, 2025, over 8.6 lakh individuals had used the platform to check for potential claims.
The funds in the DEA account are not left idle. They are deployed in initiatives aimed at safeguarding depositor interests and increasing financial literacy. A dedicated committee determines the specific use of these resources under RBI’s oversight.
Depositors and their families are urged to check the portal to ensure no funds belonging to them remain unclaimed, especially as inflation erodes value over time.