Unclaimed deposits across Indian banks have soared to an unprecedented ₹67,003 crore as of June 2025, prompting the Reserve Bank of India (RBI) to intensify efforts to reunite account holders with their forgotten funds.
These deposits, left inactive for over a decade, include savings, fixed deposits, and other balances lying idle with both public and private sector banks.
Public sector banks hold the majority share, with State Bank of India (SBI) leading at ₹19,329.92 crore, followed by Punjab National Bank at ₹6,910.67 crore and Canara Bank with ₹6,278.14 crore.
Among private banks, ICICI Bank accounts for ₹2,063.45 crore, HDFC Bank ₹1,609.56 crore, and Axis Bank ₹1,360.16 crore.
Launch of UDGAM Portal
To address this issue, the RBI has rolled out the UDGAM (Unclaimed Deposits Gateway to Access Information) portal. This centralised online platform allows individuals to search for unclaimed deposits across multiple banks using simple verification details.
The initiative is designed to make the recovery of dormant funds transparent and user-friendly.
As of July 1, 2025, more than 8.59 lakh users have registered and accessed the portal, signalling a strong public response.
The RBI has urged citizens to check the platform for any forgotten accounts, especially those belonging to elderly family members or deceased relatives.
How to Access Your Funds?
The UDGAM portal provides a one-stop solution to trace and claim unclaimed deposits.
Users can log in via the official website [https://udgam.rbi.org.in/unclaimed-deposits], verify their credentials, and identify dormant accounts linked to their details.
Once located, claimants can approach the respective bank branches with supporting documents to reactivate or withdraw the funds.
Highlighting the importance of reclaiming dormant deposits, the RBI emphasised that these funds rightfully belong to individuals and families and must be brought back into active circulation.
The central bank has also directed all banks to regularly update the portal and assist customers in processing claims swiftly.
The RBI has further advised citizens to periodically check their old accounts and update their KYC details to prevent balances from becoming dormant in the future.
The launch of the UDGAM portal is part of a broader digital push to streamline banking services and increase financial awareness.
With tens of thousands of crores lying unclaimed, the initiative not only benefits individuals but also strengthens transparency in the banking system.
The RBI hopes the platform will significantly reduce the volume of dormant deposits over the coming years, ensuring that the money returns to rightful owners and contributes to the economy.
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