Unclaimed Bank Deposits in India Reach ₹67,003 Crore

As of June 30, 2025, unclaimed deposits in Indian banks stood at a staggering ₹67,003 crore, according to data shared in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary. The majority of these deposits are held by public sector banks, with the State Bank of India (SBI) topping the list. To address this growing concern, the Reserve Bank of India (RBI) has introduced the UDGAM portal to help individuals trace and claim their unclaimed funds.

Scale of Unclaimed Deposits

• Total unclaimed deposits: ₹67,003 crore
• Public sector banks: ₹58,330.26 crore
• Private sector banks: ₹8,673.72 crore

Top Banks with Highest Unclaimed Deposits

• State Bank of India (SBI): ₹19,329.92 crore
• Punjab National Bank (PNB): ₹6,910.67 crore
• Canara Bank: ₹6,278.14 crore
• ICICI Bank (Private): ₹2,063.45 crore
• HDFC Bank: ₹1,609.56 crore
• Axis Bank: ₹1,360.16 crore

RBI’s Measures: UDGAM Portal

To improve financial inclusion and simplify the process of claiming unclaimed money, the RBI launched the UDGAM (Unclaimed Deposits Gateway to Access Information) portal.

• It allows depositors or their nominees to search across banks for unclaimed deposits.
• This initiative seeks to reduce the burden of inoperative accounts and enhance transparency.

Government’s Stand on Virtual Digital Assets

The Minister clarified that the government has no plans to launch Exchange Traded Funds (ETFs) for Virtual Digital Assets (VDAs).

The RBI has consistently issued advisories warning against the risks of cryptocurrencies and crypto assets, citing economic, legal, and security concerns.

As per the RBI circular of May 31, 2021, banks and financial institutions must conduct customer due diligence in line with KYC, AML (Anti-Money Laundering), CFT (Combating of Financing of Terrorism), and the PMLA, 2002.