The Reserve Bank of India (RBI) has announced a nationwide initiative to help people reclaim their long-forgotten or inactive bank deposits. This special campaign, running from October to December 2025, aims to return crores of rupees lying idle in dormant bank accounts to their rightful owners or legal heirs.
Under the new directive, all banks are required to complete the claim process within three months, ensuring faster and more transparent settlement of unclaimed funds.
Unclaimed bank deposits refer to funds lying in savings or fixed deposit accounts that have had no customer activity for 10 years or more. As per RBI guidelines, such amounts are transferred to the Depositor Education and Awareness (DEA) Fund, maintained by the central bank.
However, the money doesn’t vanish — the original account holders or their legal heirs can claim it anytime, provided they complete the necessary verification and documentation process.
RBI has made the process simple and fully digital. If you suspect that you or a family member might have funds in an inactive account, here’s how you can check and recover the money:
Visit RBI’s official website or the UDGAM portal (Unclaimed Deposits – Gateway to Access Information).
Search by your name or your relative’s name.
The portal will display details such as the bank’s name and a reference number for the unclaimed account.
Next, visit the respective bank branch and submit a claim form along with KYC documents like Aadhaar card, PAN card, or voter ID.
If you’re claiming on behalf of a deceased person, legal documents such as the death certificate or succession proof will be required.
Once all documents are verified, the bank will process your claim within 90 days, as mandated by RBI.
To make the process more accessible, RBI has introduced simplified KYC (Know Your Customer) norms. Customers can now update their KYC through:
Bank branches
Video-based verification
Local business correspondents
This flexibility ensures that even those in remote areas can easily update their information and complete the claim process without delays.
Importantly, no extra fees are charged by banks or the RBI for filing these claims.
This special initiative is part of RBI’s broader goal to enhance financial inclusion and transparency in the banking system. There are thousands of dormant accounts across India, many belonging to individuals who have passed away or moved without updating their details. Over time, these accounts collectively hold thousands of crores of rupees that remain unclaimed.
Banking experts believe this campaign will help reduce the clutter of inactive accounts and bring clarity to the financial ecosystem. More importantly, it will ensure that individuals and families receive money that rightfully belongs to them — money that may have been forgotten due to lack of awareness or documentation.
While the campaign is a significant step forward, experts highlight that low financial awareness in rural areas could remain a major challenge. Many account holders in small towns and villages are still unaware of how to verify or reclaim such funds. RBI, therefore, plans to increase outreach and conduct awareness programs to help people access these benefits easily.
If you or your relatives have old bank accounts that haven’t been used for years, this is the right time to act. Check your details on the RBI’s UDGAM portal, complete your KYC verification, and submit your claim to the bank.
With RBI’s streamlined system and strict three-month timeline, recovering your unclaimed deposits is now easier and more secure than ever before.
This initiative is not just about returning money — it’s about restoring financial rights and building greater trust between citizens and the banking system.
