India’s mountain of unclaimed bank deposits has reached an unprecedented ₹67,000 crore by June 2025, reflecting a steady rise in dormant funds across both public and private sector banks. Data presented in Parliament and released by the Ministry of Finance reveals that India’s largest lender, the State Bank of India (SBI), holds the lion’s share; ₹19,329.92 crore, which is approximately 29% of all such money lying idle in the country’s banking system.
Unclaimed deposits include balances in savings and current accounts that see no activity for ten years, plus term deposits not claimed after a decade of maturity. These often pile up when account holders forget about balance, relocate without updating contact information, or pass away without nominating heirs.
The significant increase in unclaimed funds in recent years is credited to India’s vast population, rising urban migration, and sometimes, a lack of awareness about account management. In the last few years, the annual transfer of such funds to the RBI’s Depositor Education and Awareness (DEA) Fund has jumped sharply: from about ₹4,500 crore per year before 2022–23, to ₹12,254 crore in 2022–23, and nearly ₹11,800 crore in 2023–24. The first nine months of 2024–25 alone saw ₹7,946 crore moved to the DEA Fund.
After 10 years of inactivity, balances are transferred to the RBI’s DEA Fund, but they remain the rightful property of customers or legal heirs. Anyone with proof can reclaim their funds plus up to 3% simple interest by submitting valid documents to their bank.
The rising heap of unclaimed money is a cautionary tale for all account holders: keep your contact details updated, nominate heirs, and regularly monitor all accounts. For the financial system, it underscores the growing need for digital literacy and proactive outreach.
