Unclaimed money lying in banks
Crores of people in India have such savings of which even their families have no idea. Old bank accounts, forgotten FDs, closed accounts, matured deposits, old shares, together amount to about Rs 67,000 crore lying unclaimed in banks and financial institutions. But now the government and RBI have started a big campaign to return it to the real owner. Out of this unclaimed amount, till now more than Rs. 10 thousand crores have been returned to the real owners.
Minister of State for Finance Pankaj Choudhary said that in the last three years, banks have returned Rs 10,297 crore to those people whose money was lying in forgotten or inactive accounts for a long time. From April 2022 to November 2025, more than 33 lakh dormant accounts have been reactivated and their funds have been transferred to the real owners or their heirs.
Government campaign: ‘Your money, your rights’
In October 2025, Finance Minister Nirmala Sitharaman launched a national campaign. His aim was to tell people that their forgotten money can come back to them. You just need to recognize it. This campaign spreads awareness across the country and tells people how they can get back their unclaimed money lying in banks, insurance or other financial institutions.
Besides, RBI has also started a special scheme of one year. Through this, the process of finding and claiming unclaimed bank deposits has been made easier.
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What money is considered ‘unclaimed’?
If there is no activity in an account for 10 years, banks consider it ‘unclaimed’. Such accounts include savings account, current account, FD-RD and matured deposits which have not been withdrawn. On completion of 10 years, this money is transferred to the Depositor Education and Awareness (DEA) Fund of RBI. But the good thing is that you can claim it anytime. There is no time limit on this.
How to find money? – UDGAM Portal the easiest way
RBI has created a digital portal UDGAM to help people. On this you can search your unclaimed money by giving only 3 information namely name, mobile number and date of birth. If any forgotten money is found in your name, the portal tells you in which bank it is.
How to find shares, mutual funds, insurance
Many people only check their bank accounts, whereas huge amounts of money may be lying at other places also. You can find them at such places –
- Mutual Funds: “unclaimed” section on CAMS/KFintech
- Shares/Dividends: IEPF Website
- Insurance Claim: Unclaimed Amount facility of insurance companies
- State Government: State Treasury Portal
How to claim?
The claim process is easy, first fill the claim form in the bank, provide KYC documents, old deposit receipt (if any) and death certificate + legal papers for the heir. After this, as soon as the verification is completed, the entire money and applicable interest comes to your account.