Unclaimed Deposits: Unlocking India's Banking Reserves
As of January 2026, Rs 72,454 crore in unclaimed bank deposits are held in the Reserve Bank of India's DEA Fund. Measures such as the UDGAM portal and amendments in banking laws aim to identify rightful claimants. The RBI and Indian government focus on enhancing cooperative banks and deposit security.
- Country:
- India
Recent data reveals that as of January 28, 2026, a staggering Rs 72,454 crore in unclaimed bank deposits resides in the Reserve Bank of India's Depositor Education and Awareness Fund. This includes funds from public, private, and foreign lenders, parliament was informed.
To address the issue, initiatives like the UDGAM portal have been launched for easier public access to unclaimed deposits data, alongside changes in banking laws to allow multiple nominations for depositors.
The RBI, in sync with the government, is also bolstering cooperative banks to enhance financial health, regulatory measures, and depositors' security across the sector.
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