Did you know that more than ₹190 crore is lying unclaimed in different banks in India? This money belongs to common people like you and me, but due to many reasons, it is still not claimed. Many people either forget about their old bank accounts, or they move to a new city and lose track of their deposits. Some people pass away, and their family members do not know about their bank accounts or savings.
This article explains why so much money is unclaimed, how to check if you or your family have unclaimed money, and how you can claim it easily.
What Is Unclaimed Money in Banks?
₹190 Crore Unclaimed in Banks: What It Means and How You Can Claim It Unclaimed money means the amount that is lying in a bank account but has not been used for many years. If a bank account is not active for 10 years, the money in it becomes “Unclaimed Deposit”. This includes:
- Savings account balance
- Fixed deposits (FDs)
- Recurring deposits (RDs)
- Money from matured FDs but not withdrawn
- Money from accounts of people who have died
- Dormant bank accounts
- Old bank accounts not used after job change, city change, or migration
When such money remains untouched for 10 years, banks transfer it to the Depositor Education and Awareness (DEA) Fund, which is managed by the Reserve Bank of India (RBI). But the important thing is — you can still claim your money anytime.
Why Does So Much Money Become Unclaimed?
There are several reasons:
1. People Forget Old Accounts
₹190 Crore Unclaimed in Banks: What It Means and How You Can Claim It Many people open accounts during school, college, office jobs, or government schemes. Over time, they forget about them.
2. No Knowledge About Family Accounts
If someone dies and their family doesn’t know about their bank deposits, the money becomes unclaimed.
3. Change of Address or Mobile Number
If you move to another city, you may not update your details in the bank. After some time, your old account becomes inactive.
4. Lost Passbooks or Documents
Many people lose their bank passbooks or FD receipts. Without documents, they don’t try to claim the money.
5. Lack of Awareness
People don’t know that money from old dormant accounts can still be claimed even after 10 years.
This is why bank accounts worth ₹190 crore have become unclaimed in India.
Good News: You Can Claim Unclaimed Money Easily
RBI and banks have made the process very simple. Now, you do not need to run from one bank to another. You can check online if you have any unclaimed amount.
Step-by-Step Guide: How to Check and Claim Unclaimed Money
Step 1: Visit RBI’s UDGAM Portal
RBI has launched a special website called UDGAM (Unclaimed Deposits – Gateway to Access Information).
Website:
https://udgam.rbi.org.in
This website allows you to check unclaimed deposits from major banks in India.
Step 2: Register on the Portal
You need to sign up using:
- Your mobile number
- OTP verification
After this, you can log in.
Step 3: Search for Unclaimed Deposits
You can search using:
- Your name
- Date of Birth
- PAN number
- Voter ID
- Driving license number
- Passport number
- Address
If any account matches your details, it will be shown on the screen.
Step 4: Note Down the Bank Details
The portal will show:
- Bank name
- Branch
- Type of deposit
- Amount (may be hidden for privacy)
Now you know which bank has your unclaimed money.
Step 5: Visit the Bank Branch
Go to the nearest branch of that bank. You do NOT need to visit the original home branch.
Carry these documents:
- Aadhaar card
- PAN card
- Address proof
- Bank passbook (if available)
- FD receipt (if any)
If you are a family member claiming for someone who has passed away, carry:
- Death certificate
- Your ID proof
- Relationship proof (legal heir certificate or nominee details)
Step 6: Fill the Claim Form
The bank will give you a Claim Form. Fill it carefully and attach your documents.
Step 7: Bank Verifies Details
The bank will check:
- Your identity
- Old account details
- Deposit records
This may take a few days.
Step 8: Money Will Be Credited to Your Active Account
After verification, the bank will release your money into your current active account.
The process is simple and free.
How Long Does It Take to Get the Money?
Normally it takes:
- 7 to 15 working days for simple cases
- 20–30 days for cases where documents are missing
- 1–3 months for legal heir claims (if nominee is not registered)
Important Tips to Avoid Future Unclaimed Deposits
- Keep your mobile number and address updated in your bank account
- Use your account at least once a year
- Nominate a family member in your bank account
- Keep FD receipts safe
- Inform your family about all your bank accounts
Conclusion
The fact that ₹190 crore is lying unclaimed in Indian banks shows how unaware people are about their savings. The good news is that RBI has made checking and claiming unclaimed money very easy through the UDGAM portal.
If you or your family have old accounts, forgotten FDs, or money in dormant accounts, you should check today. It is your right to get your money back. Just follow the simple steps and claim your amount without any difficulty.
