Lok Sabha Question No. 1348 (UNSTARRED), answered on 2025-07-28
Subject: Unclaimed Money/Deposits in Banks
Ministry: FINANCE
Asked by: Dr. M K Vishnu Prasad

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO. 1348

## ANSWERED ON MONDAY, JULY 28, 2025/ SRAVANA 6, 1947 (SAKA) Unclaimed Money/ Deposits in Banks

## 1348.  Dr. M K VISHNU PRASAD:

Will the Minister of Finance be pleased to state:

- (a) the total amount of unclaimed money / deposits lying with the Public Sector Banks (PSBs) Private Banks and Non Banking Financial Companies (NBFCs), bank, NBFC- wise and State- wise;
- (b) the steps taken by the banks to identify and return such unclaimed deposits to the account holder or nominee or legal heirs;
- (c) the effectiveness of the Udgam portal and the total amount returned through this portal; and
- (d) the proposals for utlilisation of such unclaimed funds after a period of time and if so, the details thereof?

## ANSWER

## THE MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

(a): The Depositor Education and Awareness Fund Scheme (Scheme), 2014, issued by the Reserve Bank of India, governs the norms related to unclaimed deposits and outlines details of utilisation of fund including, inter- alia, promotion of depositors' interests and other purposes as may be specified by the RBI. Balances in savings and current accounts that remain inoperative for ten years, or term deposits not claimed within ten years from the date of maturity, are classified as Unclaimed Deposits and subsequently transferred by banks to the Depositor Education and Awareness (DEA) fund maintained by RBI. Non- Banking Finance Companies (NBFC) are not required to transfer unclaimed deposits to DEA fund. Further, the details of unclaimed deposits of Public Sector Banks and Private  Sector  Banks,  transferred  to  DEA  fund  as  on  30.6.2025,  are  at  Annexure.  However,  the  State-  wise information of the same is not maintained by RBI.

(b) and (c): RBI has taken various steps to identify and return such unclaimed deposits to the account holder or nominee or legal heirs in reclaiming their unclaimed deposits and have advised banks to inter-alia, -

- (i) display the list of unclaimed deposits which are inactive/ inoperative for ten years or more on the bank's websites;
- (ii) find the whereabouts of the customers and their legal heirs to return unclaimed deposits to the rightful claimants;
- (iii) put in place a grievance redressal mechanism for quick resolution of complaints, record keeping, and periodic review of unclaimed deposits accounts.
- (iv) formulate board approved policy on classification of unclaimed deposits.

Further, RBI has undertaken various public awareness campaigns through print, radio, and digital media to educate the public about the scheme. To enhance accessibility and simplify the search process for unclaimed deposits, RBI

has launched the Centralised Web Portal UDGAM (Unclaimed Deposits- Gateway to Access Information) for public.  As on 1.7.2025, 8,59,683 users registered and accessed UDGAM portal. The said portal facilitates the registered users to search unclaimed deposits/ amounts across multiple banks at one place in a centralized manner.

(d):  With  regard  to  utilisation  of  unclaimed  fund,  RBI  has  stated  that  as  per  the  provisions  of  The  Depositor Education and Awareness Fund Scheme (Scheme), 2014, there shall be a Committee to administer and manage the fund in accordance with the Scheme. The fund shall be utilised for promotion of depositors' interest and for such other purposes which may be necessary for promotion of depositors' interest as may be specified by RBI.

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Annexure to Part (a) of the Lok Sabha unstarred Question no. 1348, dated 28.7.2025 regarding 'Unclaimed Money/ Deposits in Banks'

Depositor Education and Awareness Fund Bank-wise Balances as on 30.6.2025 - Public Sector Banks

| S. No.   | Name of the bank      | Total amount in ₹ crores   |
|----------|-----------------------|----------------------------|
| 1        | Bank of Baroda        | 5,277.36                   |
| 2        | Bank of India         | 3,933.88                   |
| 3        | Bank of Maharashtra   | 1,134.81                   |
| 4        | Canara Bank           | 6,278.14                   |
| 5        | Central Bank of India | 2,091.94                   |
| 6        | Indian Bank           | 3,739.82                   |
| 7        | Indian Overseas Bank  | 2,385.78                   |
| 8        | Punjab and Sind Bank  | 831.46                     |
| 9        | Punjab National Bank  | 6,910.67                   |
| 10       | UCO Bank              | 1,311.99                   |
| 11       | Union Bank of India   | 5,104.50                   |
| 12       | State Bank of India   | 19,329.92                  |
| Total    | Total                 | 58,330.26                  |

*Source: Reserve Bank of India

Depositor Education and Awareness Fund Bank-wise Balances as on 30.6.2025 - Private Sector Banks

| S. No.   | Name of the bank             | Total amount in ₹ crores   |
|----------|------------------------------|----------------------------|
| 1        | IDBI Bank Ltd                | 589.77                     |
| 2        | The Catholic Syrian Bank Ltd | 87.75                      |
| 3        | City Union Bank Ltd          | 131.23                     |
| 4        | Dhanlaxmi Bank Ltd           | 101.09                     |
| 5        | Federal Bank Ltd             | 347.72                     |
| 6        | The Jammu &Kashmir Bank Ltd  | 363.21                     |
| 7        | Karnataka Bank Ltd           | 329.83                     |
| 8        | The Karur Vysya Bank Ltd     | 258.04                     |
| 9        | The Nainital Bank Ltd        | 43.39                      |
| 10       | Ratnakar Bank Ltd            | 54.33                      |
| 11       | South Indian Bank Ltd        | 283.05                     |
| 12       | Tamilnad Mercantile Bank Ltd | 162.69                     |
| 13       | Axis Bank Ltd                | 1,360.16                   |
| 14       | DCB Bank Ltd                 | 91.87                      |
| 15       | HDFC BANK LTD.               | 1,609.56                   |
| 16       | ICICI Bank Ltd               | 2,063.45                   |
| 17       | IndusInd Bank Ltd            | 185.07                     |
| 18       | Kotak Mahindra Bank Ltd      | 558.72                     |
| 19       | Yes Bank Ltd                 | 52.31                      |
| 20       | IDFC BANK LIMITED            | 0.00                       |
| 21       | BANDHAN BANK LIMITED         | 0.47                       |
| Total    | Total                        | 8,673.72                   |

*Source: Reserve Bank of India