Across India, thousands of people have funds lying idle in their bank accounts, insurance policies, and fixed deposits. These untouched amounts, when left unclaimed for years, are officially categorized as Unclaimed Deposits. Recognizing the scale of the issue, Union Finance Minister Nirmala Sitharaman launched the nationwide campaign “Aapki Punji Aapka Adhikar”, encouraging citizens to trace and recover their forgotten money. Backed by the RBI (Reserve Bank of India), this initiative aims to make the reclaiming process simple, transparent, and secure for everyone.
Unclaimed Deposits refer to savings or term deposits that have remained inactive for a long period, typically ten years or more. For example, if someone forgets to withdraw funds after a fixed deposit matures or does not operate their savings account for years, the bank classifies that amount as unclaimed.
Even after this classification, the money remains safe. All such funds are transferred to the Depositor Education and Awareness (DEA) Fund, managed by the RBI. These Unclaimed Deposits continue to earn interest at the prevailing RBI rate (around 3% per annum) until claimed by the rightful owner or their legal heirs. This ensures that the value of the deposit is preserved over time.
How to Claim Your Unclaimed Deposits
Recovering your Unclaimed Deposits is a straightforward process. Here’s how you can do it:
- Visit the concerned bank branch where the deposit or account was originally held.
- Fill out the refund claim form, providing accurate account details and valid proof of ownership.
- If the original account holder has passed away, legal heirs must submit the death certificate and any required succession documents.
- The bank verifies all submitted information, and once validated, the Unclaimed Deposits are released with accumulated interest.
For added convenience, the RBI has introduced the UDGAM portal (Unclaimed Deposits Gateway to Access Information). Through this centralized online platform, citizens can search for Unclaimed Deposits across multiple banks using identifiers such as PAN, Voter ID, Passport number, or Date of Birth. After completing a quick registration and identity verification, users can track their forgotten funds without physically visiting multiple branches.
Preventing Your Money from Becoming Unclaimed
While claiming is easy, prevention is even better. Here are simple yet effective ways to ensure your money never turns into Unclaimed Deposits:
- Monitor your accounts regularly: Check your bank statements and ensure that your contact information is always up to date.
- Respond to bank alerts promptly: Banks typically send reminders when an account becomes inactive. Acting early prevents complications.
- Track fixed deposit maturity dates: Provide clear renewal or withdrawal instructions to avoid automatic classification as unclaimed.
- Nominate a beneficiary: Having a valid nomination ensures smooth claim settlement for your family in unforeseen situations.
Following these steps can save you or your loved ones from future inconvenience while maintaining control over your financial assets.
Finance Minister Nirmala Sitharaman revealed that Unclaimed Deposits in India amount to nearly ₹1.84 lakh crore. These funds belong to citizens and must be returned to their rightful owners. To address this, the RBI and the Government of India are running a three-month awareness campaign (October to December 2025).
This campaign focuses on:
- Awareness: Educating citizens about the scale of Unclaimed Deposits.
- Accessibility: Promoting the UDGAM portal and digital tools to simplify searches.
- Action: Assisting people in completing KYC, verifying identities, and initiating refund claims quickly.
Banks and financial institutions across the country are actively participating in this initiative, ensuring that citizens, especially senior citizens and rural depositors, can easily navigate the process.
Unclaimed Deposits are not just figures in a bank ledger. They represent the hard-earned savings of individuals and families. Thanks to the proactive measures by the RBI and government initiatives like “Aapki Punji Aapka Adhikar”, reclaiming forgotten money is now easier and more transparent than ever.
By regularly monitoring your accounts, updating information, and making use of official digital platforms, you can ensure that your wealth remains accessible. If you suspect that you or a family member may have Unclaimed Deposits, act today. It is your right to reclaim what belongs to you.
Also read: Traditional Cheques, Digital Speed: RBI Introduces Same-Day Settlement
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