look news india
Unclaimed Bank Deposits: RBI has decided to launch a special campaign for recovery of unclaimed bank deposits across the country from October to December 2025. Its objective is to return the funds deposited in accounts lying dormant for many years to their rightful owners. Accounts in which there has been no transaction for 10 years are transferred to the Depositor Education and Awareness (DEA) Fund of the RBI. However, the account holder or his legal heirs can claim this amount at any time.
Unclaimed amount information and claim process
If you or any of your family members have any unclaimed money, you can search the name on the RBI website or ‘UDGAM’ portal. This gives the bank name and account reference number. To file a claim, you have to visit the bank branch, fill a form and submit KYC documents like Aadhaar and Voter ID. Legal documents like death certificate are also required to claim as heir.
New features and initiatives of RBI
RBI has simplified KYC updates, allowing customers to complete their KYC at the bank branch, through video call verification or through a local business correspondent. Additionally, banks will have to complete the claim process within three months. Through this initiative, RBI aims to enhance financial inclusion and transparency and recover dues worth lakhs of crores of rupees.
Opinion of banking experts
Experts say that this initiative will increase transparency in the banking system and get rid of the problem of inactive accounts. Additionally, families will be able to get information about forgotten accounts and get their money back safely. However, lack of awareness in rural areas is a major challenge.
If you or your acquaintances have money deposited in their bank accounts, you or your heirs need not panic. During this special campaign of RBI, you can easily get your money back. With your KYC updated and correct documents, complete the claim process instantly and reactivate your money. The special thing is that there is no extra charge for this.