Mumbai, Sept 25: The Reserve Bank of India (RBI) has asked banks to speed up the return of over ₹67,000 crore in unclaimed deposits to their rightful owners. These deposits include dormant savings and current accounts, matured fixed deposits, uncollected dividends, interest payments, and insurance proceeds.
From October to December 2025, the RBI plans a special outreach program in rural and semi-urban areas to trace these dormant accounts. State Level Bank Committees (SLBCs) will help banks identify unclaimed deposits and assist in returning them to depositors.
To make the process easier, the RBI has launched the UDGAM portal. People can check if they have unclaimed deposits across multiple banks through a single online search. Over 8.5 lakh users have already used the platform.
The RBI aims to protect depositors and ensure transparency in the banking system. Customers are encouraged to use the UDGAM portal and contact their banks to claim any unclaimed money.