CLAIM  FORGOTTEN  MONEY FROM YOUR BANKS

Claim Forgotten Money From Your Banks

Dated 14.12.2025 : The estimated amount of unclaimed deposits lying with the Reserve Bank of India’s (RBI) Depositor Education and Awareness (DEA) Fund has reached a very significant level.

As of March 31, 2024, the total amount of unclaimed deposits transferred by all banks (Public Sector Banks and Private Sector Banks) to the DEA Fund was approximately ₹78,213 crore  . In the most recent parliamentary update available, the total unclaimed deposits stood at ₹67,003 crore as of June 30, 2025 .

This large amount of money is the focus of the government’s ongoing campaign, “Your Money, Your Right”, and the RBI’s specialized portal, UDGAM (Unclaimed Deposits-Gateway to Access inforMation), which was specifically launched to help citizens trace and claim these funds.The crucial point is that this money still belongs to the rightful depositors or their legal heirs and can be reclaimed by approaching the respective bank               

STEP BY STEP GUIDE TO CLAIMING  THE FUNDS

Unclaimed deposits are generally bank balances (in savings, current, or term deposit accounts) that have not been operated upon or claimed for ten years or more. These funds are transferred to the RBI’s Depositor Education and Awareness (DEA) Fund, but the rightful owners can still reclaim them.

Here is a step-by-step guide on how one can get back these funds

1. Search for Unclaimed Funds using the UDGAM Portal

The first and most important step is to confirm if an unclaimed deposit exists in your name or the name of a deceased relative.

• Portal: Use the UDGAM (Unclaimed Deposits-Gateway to Access Information) portal, developed by the RBI.
  1. Website: https://udgam.rbi.org.in/unclaimed-deposits/
• Process:
  1. Register and Log in on the UDGAM portal.
  2. Enter the name of the Account Holder (mandatory).
  3. Select the Name of the Bank (you can select one or more).
  4. Provide at least one identifying detail, such as your PAN, Voter ID, Driving Licence, Passport Number, or Date of Birth.
  5. The portal will display if there is any unclaimed deposit associated with the entered details across the participating banks.

2. Contact the Respective Bank

The UDGAM portal only helps you find the information. The claim process must be completed through the bank where the deposit was originally held.

• Visit a Branch: Go to the nearest branch of the bank where the unclaimed deposit was found.

Obtain the Claim Form: Request the “Unclaimed Deposit Claim Form” from the bank branch. Most banks also provide this form on their official websites

3. Submit the Claim and Required Documents

Fill out the claim form and submit it along with the necessary documents.

Required Documents (for Self-Claim)

• Claim Form: Duly filled and signed.
• Identity Proof (KYC): Self-attested copy of one Officially Valid Document (OVD) like Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License.
• Address Proof: Self-attested copy of a valid address proof.
• Account Proof (if available): Original Passbook, Term Deposit Receipt, or account statement.

Required Documents (for Nominee/Legal Heir Claim)

In addition to the claimant’s KYC documents, you will typically need:

• Death Certificate of the original account holder.
• Proof of relationship with the deceased (e.g., will, succession certificate, or as per the bank’s nomination rules).
• Indemnity bond (may be required by the bank for legal heir claims )

4. Verification and Settlement

• The bank will thoroughly verify your credentials and the documents you submit.
• Once the application is processed and validated, the bank will release the funds, which will include the original deposit amount along with any applicable interest.
• The money will be credited to your new or existing bank account

Important Notes

• Interest: Even though the funds are transferred to the DEA Fund, depositors are entitled to claim the deposit along with interest, as applicable.
• Facilitation Camps: The government’s “Your Money, Your Right” campaign includes nationwide special facilitation camps (often held in coordination with district administrations and banks) to assist citizens directly with the claim process. You can look out for announcements for these camps in your area.
• Other Assets: If you have unclaimed funds in Insurance Policies (check IRDAI’s Bima Bharosa Portal), Mutual Funds (check SEBI’s MITRA Portal), or Shares/Dividends (check IEPFA Portal), you will need to follow a similar process using the respective regulatory portals and contact the relevant financial institution.

Through the coordinated efforts of this movement by the government and  RBI , approximately ₹2,000 crore in unclaimed financial assets (across banks, insurance, mutual funds, etc.) have already been returned to their rightful owners  within the first two months of the campaign . 

Check and claim , if  you have left  funds unclaimed.

The above article has used inputs from a reputed AI app.