RBI’s new initiatives: The RBI has decided to launch a special campaign from October to December 2025 to recover unclaimed bank deposits across the country. The goal is to return funds held in accounts that have been inactive for many years to their rightful owners.
Accounts that have not seen any transactions for 10 years are transferred to the RBI’s Depositor Education and Awareness (DEA) fund. However, account holders or their legal heirs can claim these funds at any time.
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Unclaimed Amount Details and Claim Process
If you or a family member has an unclaimed amount, you can search the name on the RBI website or the ‘UDGAM’ portal. This will provide the bank name and account reference number. To file a claim, you must visit a bank branch, fill out a form, and submit KYC documents such as your Aadhaar and voter ID. Legal documents such as a death certificate are also required if claiming as an heir.
RBI’s new facilities and initiatives
The RBI has simplified KYC updates, allowing customers to complete their KYC at a bank branch, through video call verification, or through a local business correspondent. Furthermore, banks are required to complete the claim process within three months. With this initiative, the RBI aims to increase financial inclusion and transparency and recover millions of crores of rupees of pending funds.
Banking experts’ views
Experts say this initiative will increase transparency in the banking system and eliminate the clutter of dormant accounts. Furthermore, families will be able to learn about forgotten accounts and safely return their money. However, lack of awareness in rural areas remains a major challenge.
If you or your acquaintances have money lying dormant in the bank, you or your heirs need not panic. During this special RBI campaign, you can easily get your money back from the bank. With your KYC updated and the correct documents, complete the claim process immediately and reactivate your funds. Importantly, there are no additional fees.
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