Unclaimed Bank Deposits Reach ₹67,003 Crore

Fast Summary

• Unclaimed Deposits in Banks: Unclaimed deposits with banks totaled ₹67,003 crore as of June 2025. Public sector banks held ₹58,330.26 crore and private sector banks ₹8,673.72 crore.

– Top Contributors: Among public sector banks, SBI leads with ₹19,329.92 crore; Punjab National Bank and Canara Bank follow with ₹6,910.67 crore and ₹6,278.14 crore respectively.
– Among private sector banks, ICICI Bank has the highest unclaimed deposits at ₹2,063.45 crore; HDFC Bank and Axis Bank follow with ₹1,609.56 crore and ₹1,360.16 crore respectively.

• RBI’s UDGAM Portal: RBI launched the UDGAM portal for public access to search unclaimed deposits across multiple banks in a centralized manner.

– As of July 2025, over 8 lakh users have registered on the portal.

• Depositor Education Fund Utilization: Unclaimed funds are utilized to promote depositors’ interest under RBI guidelines via The Depositor Education and Awareness Fund Scheme (2014). A committee oversees fund management.

• Virtual Digital Assets (VDAs): The government has no plans to introduce ETFs for VDAs due to risks identified by RBI advisories such as economic and financial vulnerability.

– RBI mandates regulated entities comply with KYC/AML/CFT rules for transactions involving crypto assets.

• Bima Sakhi Yojana:

– Total enrolled agents: As of March 31, 2025 nearly 1.49 lakh women enrolled as Bima Sakhi agents under LIC’s rural outreach program; roughly 15% are from Maharashtra or Madhya Pradesh.- Over 60% of premiums collected by Bima Sakhis come from rural areas.
– Coverage includes one agent per nearly 25% panchayats nationwide.

Indian Opinion Analysis

The data on unclaimed bank deposits highlights an area needing greater financial literacy among citizens regarding inactive accounts or forgotten investments-a critical issue given its vast magnitude crossing ₹67K crores nationally across sectors by mid-2025 alone-led pubs/private bank contributions findings efficiently illustrate trends aptly matching large top SBI share (~₹19k) ; tend thoughtful prompt yet its simplified digitized solve sources innovative tools like new launch “UDGAM” precise searches improving past help groups committee allocating promo safeguarding inclusion systems retention adoption profile tighter ensure needed reforms traced milestones those sync gaps persistent current flow limits.