A staggering sum of money lies forgotten in India’s banking system. As of late January 2026, unclaimed bank deposits have reached a colossal Rs 72,454 crore. This massive amount is held within the Depositor Education and Awareness Fund maintained by the Reserve Bank of India.
Minister of State for Finance Pankaj Chaudhary provided this update to the Rajya Sabha. He detailed the rules that classify accounts as unclaimed. Savings or current accounts inactive for a decade fall into this category, as do term deposits not claimed within ten years of maturity.
Once identified, banks must transfer these funds. They move the unclaimed deposits to the RBI’s central DEA Fund. This process is designed to safeguard the money while efforts are made to find the rightful owners.
Breaking down the massive total reveals where the money comes from. Public sector banks account for the lion’s share, with Rs 60,571 crore in unclaimed deposits. Private sector banks hold Rs 9,608 crore, while foreign lenders contribute Rs 2,275 crore.
The sheer scale of these unclaimed deposits highlights a significant financial oversight. It represents billions of rupees that belong to citizens but are stuck in bureaucratic limbo. Authorities are now taking steps to address this growing issue.
A major initiative is the UDGAM portal. This centralized web platform allows the public to search for unclaimed deposits across multiple banks in one place. The goal is to make it easier for rightful claimants to identify and reclaim their money.
Legislative changes are also supporting this effort. The Banking Laws Amendment Act of 2025 introduced key provisions. It now allows bank customers to make multiple nominations, up to four successive or simultaneous nominees.
This aims to prevent funds from becoming unclaimed in the first place. Clearer succession paths can ensure money reaches intended beneficiaries. It’s a proactive measure to reduce future additions to the DEA Fund.
The DEA Fund itself has a purpose beyond just holding money. Its resources are used for financial literacy and awareness programs. These initiatives target excluded sections of society to promote safe and secure banking practices.
The fund also supports depositor education projects and research. It finances seminars for depositors and their associations. This educational role is a core part of the fund’s mandate alongside safeguarding unclaimed deposits.
In a related financial update, the minister addressed cooperative lending. Loans sanctioned to the National Cooperative Development Corporation for on-lending to societies now qualify as priority sector lending. This applies from January 2026 onward.
This measure aims to boost credit flow to the cooperative sector. It is part of broader efforts to strengthen cooperative banks. The focus is on improving their financial health, governance, and digital inclusion.
Another question revealed the size of the National Investment and Infrastructure Fund. Its total corpus stood at Rs 33,249 crore as of December 2025. This includes government and investor contributions spread across four specialized funds.
The discussion also touched on unsecured personal loans. Outstanding amounts have been rising, reaching Rs 9,53,181 crore by March 2025. However, their share of total retail advances has actually declined from previous years.
The RBI maintains a vigilant regulatory stance on such trends. It employs measures like adjusting risk weights and advising banks to strengthen internal safeguards. These actions are designed to mitigate systemic risks in the lending landscape.
The revelation of Rs 72,454 crore in unclaimed deposits is a powerful call to action. It underscores the importance of financial awareness and proper estate planning. Tools like the UDGAM portal are now critical for reconnecting people with their lost funds.