Question: I have a savings account that I haven't used for 8 years. I heard the money gets transferred somewhere. Is that true and where does it go?
Answer: Yes. If a savings or current account has not seen any customer-initiated transactions for 10 years, the balance is transferred to the Depositor Education and Awareness (DEA) Fund maintained by the RBI. You can still claim the money back from the bank, which will then be reimbursed from the DEA Fund after verification.

Supporting evidence:
title: rbi.org.in/Notification.aspx
quote: the amount to the credit of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be credited to the Fund The depositor would, however, be entitled to claim from the bank her deposit or any other unclaimed amount or operate her account after the expiry of ten years, even after such amount has been transferred to the Fund. The bank would be liable to pay the amount to the depositor/claimant and claim refund of such amount from the Fund
context: ar Sir/Madam, The Depositor Education and Awareness Fund Scheme, 2014 - Section 26A of Banking Regulation Act, 1949 Please refer to paragraph 93 of the Monetary Policy Statement 2013-14 announced by Governor on May 3, 2013 on the above subject.

1. Pursuant to the amendment of the Banking Regulation Act, 1949, section 26A has been inserted in that Act, empowering Reserve Bank to establish The Depositor Education and Awareness Fund (the Fund) . Under the provisions of this section the amount to the credit of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be credited to the Fund, within a period of three months from the expiry of the said period of ten years. The Fund shall be utilized for promotion of depositors’ interest and for such other purposes which may be necessary for the promotion of depositors’ interests as specified by RBI from time to time. The depositor would, however, be entitled to claim from the bank her deposit or any other unclaimed amount or operate her account after the expiry of ten years, even after such amount has been transferred to the Fund. The bank would be liable to pay the amount to the depositor/claimant and claim refund of such amount from the Fund.
2. The draft Depositor Education and Awareness Fund Scheme was placed on Reserve Bank of India website for public comments. Taking into account the comments received from various stakeholders, the ‘ Depositor Education and Awareness Fund Scheme, 2014 ’ has been finalized and forwarded to Government of India for notifying in the Official Gazette. A copy of the Scheme is enclosed for your information. All banks are advised to be in readiness to take necessary action as the Scheme would be effective on the date of Notification in the Official Gazette. The operational guidelines would be advised separately as soon as the Scheme is notified.

3. Further banks are also advised to designate a single contact point for any correspondence/ queries in connection with the ‘Depositor Education and Awareness Fund Scheme, 2014’ and provide the contact details as per Annex by email . Yours faithfully, (Rajesh Verma) Chief General Manager Encl: As above Annex To, The Chief General Manager Department of Banking Operations and Development Central Office Depositor Education and Awareness Fund Cell, Reserve Bank of India Shaheed Bhagat Singh Marg Fort Mumbai - 400 001. Sir/ Mada