Unclaimed deposits with banks stand at Rs 67,003 cr
New Delhi: Unclaimed deposits across Indian banks stood at Rs 67,003 crore at the end of June 2025, the government informed Parliament on Monday. Minister of State for Finance Pankaj Chaudhary shared the data in a written reply to the Lok Sabha, citing information provided by the Reserve Bank of India (RBI).
Public sector banks held the majority of these funds, amounting to Rs 58,330.26 crore, while private sector lenders accounted for Rs 8,673.72 crore. Among the public banks, the State Bank of India topped the list with Rs 19,329.92 crore in unclaimed deposits. Punjab National Bank and Canara Bank followed with Rs 6,910.67 crore and Rs 6,278.14 crore, respectively.
In the private sector, ICICI Bank had the highest unclaimed deposits at Rs 2,063.45 crore, followed by HDFC Bank at Rs 1,609.56 crore and Axis Bank at Rs 1,360.16 crore.
To simplify the process of tracing such deposits, the RBI launched UDGAM (Unclaimed Deposits – Gateway to Access Information), a centralised digital portal. “As on July 1, 2025, 8,59,683 users registered and accessed the UDGAM portal,” Chaudhary stated. The platform enables users to search for unclaimed deposits across multiple banks from a single access point.
On the matter of fund utilisation, the minister said that the Depositor Education and Awareness Fund Scheme, 2014, governs the management of these unclaimed amounts. A committee appointed under the scheme is tasked with using the funds for promoting depositor interests and related objectives as determined by the RBI.
In response to a separate question, Chaudhary clarified that the government has no plans to launch Exchange Traded Funds (ETFs) linked to Virtual Digital Assets (VDAs). He referred to RBI advisories cautioning against virtual currencies, pointing to concerns over financial, legal, and security risks.
“The RBI, through its circular dated May 31, 2021, instructed regulated entities to continue due diligence on customers involved in virtual currency transactions,” he said. These checks are aligned with existing standards under KYC, AML, CFT, and the Prevention of Money Laundering Act, 2002.
On the Bima Sakhi programme, Chaudhary informed that 1,48,888 women had been enrolled as of March 31, 2025. Maharashtra and Madhya Pradesh together accounted for over 22,000 of these. He noted that 60.13 per cent of premium collections by Bima Sakhis came from rural areas, and nearly 25 per cent of panchayats had at least one such agent.
