With the Reserve Bank of India (RBI) launching a special outreach programme till December 2025 to reduce the unclaimed deposits with banks, the Coimbatore lead bank has opened an explanation counter at the Coimbatore Collectorate.
A press release from the district administration said that as June 2025, unclaimed deposits in the banking system in the country stood at over ₹67,000 crore. Along with the special outreach programmes scheduled between October and December, the RBI has also launched a new incentive programme to reduce unclaimed deposits.
Currently, 30 banks are participating in the UDGAM portal, covering over 90% of the unclaimed deposits in the RBI’s Depositor Education and Awareness Fund.
If a bank customer has funds in an inactive bank account that wants to recover it now, they can do so through a simplified procedure now.
An inoperative bank account is a savings or current account that has not had any transactions by the customer for two years or more. If the account remains inactive for 10 years, the funds (along with accrued interest) are transferred to the RBI’s DEA Fund, that was set up in May 2014.
Customers or their legal heirs can claim the money in the DEA fund anytime by visiting the bank branch and submit a form with KYC documents for proof of identity and account ownership (such as Aadhaar, driving license, voter ID).
If a customer wants to check if there is any unclaimed fund, they can contact the bank or use the RBI’s UDGAM (Unclaimed Deposits Gateway to Access Information) portal (udgam.rbi.org.in).
Published – October 30, 2025 07:28 pm IST
