Money Lying Idle in an Inactive Account for Over 10 Years? RBI Says You Can Still Claim It

If you have funds in bank accounts that have been inactive for over 10 years, the Reserve Bank of India (RBI) has made it easier for you to reclaim them. The UDGAM portal is here to help. 

Understanding Unclaimed Deposits 

According to RBI guidelines, bank accounts that have not been used for 10 years or more are classified as "unclaimed." Funds from these accounts are transferred to the RBI's Depositor Education and Awareness (DEA) Fund. However, these funds still belong to the account holders and can be claimed back at any time. 

How to Use the UDGAM Portal 

The RBI has introduced the UDGAM (Unclaimed Deposits, Gateway to Access Information) portal to streamline the process of reclaiming unclaimed funds. This user-friendly platform allows individuals to check for unclaimed funds across multiple banks using basic information such as name, PAN, or mobile number. 

Claiming Your Funds 

If the portal indicates unclaimed deposits, the claimant must visit the respective bank branch with valid KYC documents like Aadhaar, voter ID, passport, or driving licence to submit a request for fund recovery. Banks will verify the details and release the money, including any applicable interest. 

Read More: RBI Board Greenlights Risk-Based Deposit Insurance Framework for Banks! 

Special Drives and Assistance 

Between October and December 2025, banks across India are conducting special drives and help camps to assist customers in reclaiming such deposits. The RBI encourages all citizens to stay financially aware and regularly monitor their bank accounts. 

Conclusion 

The RBI's UDGAM portal offers a straightforward solution for reclaiming funds from inactive accounts. By following the outlined steps and using the portal, account holders can efficiently recover their money, ensuring no funds are left unclaimed. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.