Unclaimed Bank Deposits With RBI Fund Rise To Rs 86,917 Crore: Govt

New Delhi, Aug 12 (KNN) Unclaimed bank deposits transferred to the Reserve Bank of India’s (RBI) Depositor Education and Awareness (DEA) Fund stood at Rs 86,917 crore as of June 30, 2026, with State Bank of India (SBI) accounting for nearly a fourth of the total, Minister of State for Finance Pankaj Chaudhary said in Parliament.

According to a written reply in the Rajya Sabha, SBI had the highest amount of unclaimed deposits transferred to the fund at Rs 20,040 crore, followed by Punjab National Bank at Rs 7,585 crore, Canara Bank at Rs 6,830 crore, Bank of Baroda at Rs 5,848 crore and Union Bank of India at Rs 5,549 crore.

Among private sector banks, ICICI Bank had Rs 2,278 crore in unclaimed deposits with the DEA Fund, followed by HDFC Bank at Rs 1,912 crore and Axis Bank at Rs 1,734 crore.

SBI Accounts For Largest Share Of Unclaimed Deposits

The data showed that SBI had the highest amount of unclaimed deposits transferred to the DEA Fund among banks, accounting for nearly 23 per cent of the total.

Among other major public sector banks, Punjab National Bank, Canara Bank, Bank of Baroda and Union Bank of India also reported significant amounts transferred to the fund.

What Qualifies As Unclaimed Deposits

Savings and current account balances that remain inoperative for 10 years, as well as term deposits that are not claimed within 10 years of maturity, are classified as unclaimed deposits.

Banks subsequently transfer such amounts to the DEA Fund maintained by the RBI. The fund is used to promote depositors’ interests and for other related purposes.

As of June 30, banks had received Rs 17,415 crore from the DEA Fund as reimbursement for amounts paid to rightful claimants, Chaudhary said.

RBI Steps Up Efforts To Recover Unclaimed Deposits

The government and RBI have taken measures to reduce unclaimed deposits and facilitate their recovery by depositors and legal heirs.

The RBI has directed banks to conduct periodic drives to trace customers, nominees and legal heirs linked to inoperative accounts and unclaimed deposits. Banks are also required to update lists of unclaimed deposits on their websites every month and conduct awareness and financial literacy campaigns.

The Department of Financial Services has also launched a common online portal to facilitate the recovery of unclaimed bank deposits, insurance claims, shares, dividends and mutual fund investments through a single platform.

(KNN Bureau)