Unclaimed deposits over Rs 67,000 crore in banks as of June 30, says Finance Ministry
Finance Ministry revealed in Lok Sabha that public and private banks hold vast unclaimed sums; SBI and ICICI top the list, while RBI's UDGAM portal helps locate funds
The total amount of unclaimed money/deposits in public and private sector banks in the country is over Rs 67,000 crore, the Finance Ministry informed the Lok Sabha on Monday (July 28).
According to the statistics shared by Minister of State for Finance Pankaj Chaudhary, while the 12 public sector banks in the country have total unclaimed deposits of Rs 58,330.26, the total unclaimed deposits in private sector banks stand at Rs 8,673.72 as on June 30, 2025.
SBI, HDFC at top
Among the public sector banks, the State Bank of India (SBI) occupied the top slot in terms of unclaimed deposits of Rs 19,329.92, followed by the Punjab National Bank (Rs 6,910.67) and the Canara Bank( Rs 6,278.14).
As for the private sector banks, ICICI Bank topped the chart with unclaimed deposits of Rs 2,063.45, followed by HDFC Bank Ltd (Rs 1,609.56) and Axis Bank Ltd (Rs 1,360.16).
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Steps for returning unclaimed deposits
As for the steps taken by banks to identify and return such unclaimed deposits to the account holder or nominee or legal heirs, the MoS stated that the Reserve Bank of India (RB) has taken various steps to identify and return such unclaimed deposits to the account holder or nominee or legal heirs and have given several advises to the banks in this regard.
The advises include displaying the list of unclaimed deposits which are inactive/ inoperative for 10 years or more on the bank’s websites; find the whereabouts of the customers and their legal heirs to return unclaimed deposits to the rightful claimants and putting in place a grievance redressal mechanism for quick resolution of complaints, record keeping, and periodic review of unclaimed deposits accounts.
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RBI's scheme
The MoS further stated that the RBI has launched the Depositor Education and Awareness Fund Scheme (Scheme), 2014.
“Further, RBI has undertaken various public awareness campaigns through print, radio, and digital media to educate the public about the scheme. To enhance accessibility and simplify the search process for unclaimed deposits, RBI has launched the Centralised Web Portal UDGAM (Unclaimed Deposits- Gateway to Access Information) for public,” stated the minister.
“As on 1.7.2025, 8,59,683 users registered and accessed UDGAM portal. The said portal facilitates the registered users to search unclaimed deposits/ amounts across multiple banks at one place in a centralized manner,” he added.