The Reserve Bank of India (RBI) has initiated a robust three-month campaign, from October to December 2025, to recover unclaimed deposits exceeding ₹67,000 crore. These funds, accumulated in dormant savings and current accounts, matured term deposits, unclaimed dividends, interest warrants, and insurance payouts, have remained inactive for over a decade. Central to the effort is the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal, which allows depositors to trace funds across multiple banks. Complemented by outreach in rural and semi-urban areas and simplified KYC procedures, the initiative aims to return rightful ownership, enhance financial inclusion, and strengthen trust in India’s banking system.
Scope of Unclaimed Deposits
Unclaimed deposits include funds in savings or current accounts that have remained inactive for ten years, along with term deposits unclaimed within ten years of maturity. Banks transfer these dormant funds to the Depositor Education and Awareness (DEA) Fund managed by the RBI, yet depositors retain the right to reclaim their money with accrued interest. This category also covers dividends, interest warrants, and insurance payouts that have gone unclaimed, reflecting a substantial pool of idle capital within the banking system.
UDGAM Portal: Centralized Access
The RBI has launched the UDGAM portal, a centralized digital platform designed to streamline the process of identifying and claiming unclaimed deposits. Users can register with their name and mobile number, then search for deposits using the account holder’s name, bank, and identifiers such as PAN, Voter ID, Driving License, Passport, or Date of Birth.
As of mid-2025, over 8.5 lakh individuals had registered on the platform to track their dormant funds, reflecting the growing public engagement with this initiative. The portal consolidates information across multiple banks, providing a unified and user-friendly interface for depositors seeking to reclaim their funds.
Outreach and Awareness Efforts
Recognizing the concentration of unclaimed funds in rural and semi-urban areas, the RBI’s campaign emphasizes targeted outreach. Localized campaigns using print, radio, and digital media in regional languages aim to educate citizens about dormant accounts and the reclamation process. Banks are coordinating with business correspondents and branch networks to assist individuals in locating and claiming their deposits, particularly in regions with lower literacy and financial awareness.
Simplified KYC Processes
To facilitate claims, the RBI has streamlined Know Your Customer (KYC) protocols. Account holders can update their KYC via in-person bank visits, video-based verification, or through business correspondents in their localities. These measures remove procedural barriers, ensuring that individuals, including those in remote areas, can easily access and reclaim dormant funds.
Implications for Financial Inclusion and Market Liquidity
The campaign is not only about reclaiming idle funds—it is also a strategic move to enhance financial inclusion and transparency. By reintegrating dormant capital into the banking system, the RBI strengthens trust among depositors and expands the pool of liquid resources that can support lending and economic activity.
Experts note that campaigns like this encourage greater engagement with formal banking channels, fostering a culture of accountability and responsiveness in the sector. Over time, returning these funds to rightful owners could also stimulate consumption and investment, particularly in underserved regions.
Conclusion
The RBI’s unclaimed deposits initiative represents a decisive step toward safeguarding depositor rights and optimizing the use of idle capital within India’s financial system. Through the UDGAM portal, rural outreach, and simplified KYC protocols, the campaign ensures that dormant funds are returned efficiently, reinforcing both financial inclusion and trust in the banking ecosystem. As this drive progresses, depositors across India are expected to benefit, reclaiming their rightful assets and strengthening engagement with formal financial institutions.
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