More Stories

Informist, Wednesday, Apr. 8, 2026

--RBI ED Bhattacharyya: Apr-Sept unclaimed deposit refunds INR 1.8 bln/month

--RBI ED Bhattacharyya:Sept to now unclaimed deposit refund INR 7.6 bln/mo

NEW DELHI – Banks have been paying, on average, INR 7.6 billion in unclaimed deposit refunds per month to customers since September, Reserve Bank of India Executive Director Indranil Bhattacharyya said Wednesday. Between April and September, the RBI paid an average of INR 1.8 billion in unclaimed deposit refunds per month, Bhattacharyya added.

The central bank is also paying INR 6 billion as an incentive to banks as they are doing aggressive tracing of the customers and returning the unclaimed amounts lying with the RBI in its Depositors Education Awareness Fund, Bhattacharyya said at the post-policy press conference.

Unclaimed deposit is the credit balance of a bank account that has not been operated for more than 10 years. The banks transfer the unclaimed deposits to the RBI's Depositor Education Awareness Fund on the last working day of the subsequent month. The central bank has been encouraging banks to pursue customers having inoperative accounts and refund their unclaimed amounts lying with the RBI's fund.  End

Reported by Shweta

Edited by Tanima Banerjee

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000 /+91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.