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Banks Shift ₹67,000 Crore of Dormant Deposits to RBI’s Depositor Education Fund

Centralizing these inactive balances under the 2014 scheme spotlights the RBI’s push to streamline claims through its UDGAM portal.

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The local head office of SBI in Kolkata. SBI holds the highest amount of unclaimed deposits in the entire banking sector. | ANI File Photo
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Overview

  • As of June 30, 2025, Indian banks transferred ₹67,000 crore in accounts inactive for over a decade into the Depositor Education and Awareness Fund.
  • Public sector banks contributed 87% of the total, with State Bank of India alone accounting for ₹19,329.92 crore.
  • Private lenders moved ₹8,673.72 crore, led by ICICI Bank’s ₹2,063.45 crore, with HDFC Bank at ₹1,609.56 crore and Axis Bank at ₹1,360.16 crore.
  • Since its October 2023 launch, the UDGAM portal has registered over 859,000 users seeking to trace and reclaim dormant balances.
  • A committee under the 2014 scheme administers the fund to promote depositor education and facilitate claims, while NBFCs remain exempt from transferring unclaimed deposits.