Are you aware that you might have forgotten money sitting in dormant bank accounts? The Reserve Bank of India (RBI) has made it easier than ever for you to reclaim those funds, and here’s how.
If you haven’t accessed your bank accounts—be it savings, current, or fixed deposits—for over ten years, the RBI classifies these accounts as "unclaimed." This means that any money remaining in these accounts is transferred to the RBI's Depositor Education and Awareness (DEA) Fund. But don’t worry! Even after this transfer, the money is still legally yours, and you can claim it whenever you wish.
To help you in this process, the RBI has introduced a convenient online platform known as the UDGAM portal, which stands for Unclaimed Deposits, Gateway to Access Information. This user-friendly website allows you to search for unclaimed funds not only in your name but also in the names of family members across various banks. All you need to do is provide some basic information such as your name and either your PAN or mobile number to check for any unclaimed deposits.
If you discover that you have an unclaimed deposit, the next step is straightforward. You will need to visit the respective bank branch where your account was held and present valid KYC (Know Your Customer) documents. Acceptable forms of identification include Aadhaar cards, voter IDs, passports, or driving licenses. After submitting a request to retrieve your funds, the bank will verify your details and release the money, along with any interest accrued.
From October to December 2025, various banks across India are conducting special initiatives and help camps aimed at assisting customers in reclaiming their dormant deposits.
The RBI strongly encourages everyone to remain vigilant about their financial status and to regularly check their bank accounts for any unclaimed funds. For more information and to access the UDGAM portal, visit udgam.rbi.org.in.
So, what are your thoughts? Do you think enough people are aware of these resources? Let us know in the comments!
