Banking: Banks have returned Rs 10,300 crore of unclaimed money; here's how you can get your unclaimed money back..

Crores of people in India have unclaimed savings that even their families are unaware of. Old bank accounts, forgotten FDs, closed accounts, matured deposits, and old shares, together, total approximately ₹67,000 crore (approximately $67 billion) lying unclaimed in banks and financial institutions. However, the government and RBI have now launched a major campaign to return this unclaimed amount to its rightful owners. So far, more than ₹10,000 crore (approximately $10 billion) of this unclaimed amount has been returned to its rightful owners.

Minister of State for Finance Pankaj Chaudhary stated that over the past three years, banks have returned ₹10,297 crore (approximately $10 billion) to individuals whose money had been lying in forgotten or inactive accounts for a long time. From April 2022 to November 2025, more than 3.3 million dormant accounts have been reactivated and their funds transferred to their rightful owners or their heirs.

Government Campaign: 'Your Money, Your Rights'
In October 2025, Finance Minister Nirmala Sitharaman launched a national campaign to inform people that their forgotten money can be returned to them. They just need to identify it. This campaign spreads awareness across the country and informs people how to recover their unclaimed money lying in banks, insurance, or other financial institutions.

The RBI has also launched a special one-year scheme to simplify the process of finding and claiming unclaimed bank deposits.

What is considered 'unclaimed'?
If there is no activity in an account for 10 years, banks consider it 'unclaimed'. Such accounts include savings accounts, current accounts, FDs, RDs, and matured deposits that have not been withdrawn. After 10 years, this money is transferred to the RBI's Depositor Education and Awareness (DEA) Fund. However, the good news is that you can claim it at any time. There's no time limit.

How to Find Money? – UDGAM Portal: The Easiest Way
The RBI has created a digital portal, UDGAM, to help people. You can search for your unclaimed money by providing just three pieces of information: name, mobile number, and date of birth. If you find any forgotten money in your name, the portal will tell you which bank it's in.

How to Find Shares, Mutual Funds, and Insurance
Many people only check their bank accounts, but large sums of money may be lying in other places as well. You can find them in the following places:

Mutual Funds: "Unclaimed" section on CAMS/KFintech

Shares/Dividends: IEPF website

Insurance Claims: Insurance companies' Unclaimed Amount feature

State Government: State Treasury Portal

How to Claim? The claim process is simple. First, fill out a claim form with the bank, provide KYC documents, old deposit receipts (if any), and a death certificate + legal papers for heirs. Once the verification is complete, the full amount and applicable interest are credited to your account.

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