Overview
- The RBI’s “Scheme for Facilitating Accelerated Payout” runs from Oct 1, 2025 to Sep 30, 2026, offering banks age-based incentives to reactivate accounts and settle claims.
- Payments to banks are capped by bucket: 5% or Rs 5,000 for inoperative up to 4 years; 6% or Rs 10,000 for 4–8 years; 7% or Rs 15,000 for 8–10 years; and 7.5% or Rs 25,000 for deposits 10+ years with the DEA Fund.
- Banks must file quarterly payout claims within one month of each quarter’s end, with submissions signed by a designated senior executive.
- The government’s three-month ‘Your Money, Your Right’ campaign begins Oct 4 in Gandhinagar, coordinated by DFS with RBI, IRDAI, SEBI and IEPFA to help citizens trace and reclaim assets across financial products.
- RBI has asked banks to hold district-level, week-long joint camps from October to December led by SLBCs, starting in Gujarat, with banks preparing district-wise lists, contacting potential claimants, and coordinating with state agencies; UDGAM remains the central search portal.