Govt says Indian banks held INR 702 bln unclaimed deposits as on Jan 28
This story was originally published at 15:27 IST on 10 February 2026
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NEW DELHI – Indian banks held INR 701.79 billion worth of unclaimed deposits as on Jan. 28, Minister of State for Finance Pankaj Chaudhary said Tuesday. Balances in savings and current accounts that remain inoperative for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as unclaimed deposits.
Of the total amount of INR 701.79 billion, public-sector banks held INR 605.71 billion unclaimed deposits, Chaudhary said in a written reply to a question in the Rajya Sabha. Private-sector banks had INR 96.08 billion unclaimed deposits, he added. Foreign banks held an additional INR 22.75 billion unclaimed deposits.
The banks subsequently transfer the unclaimed deposits to the fund under the Depositor Education and Awareness scheme maintained by the Reserve Bank of India. The fund is used for the promotion of depositors' interest and for other purposes that may be necessary to promote depositors' interest. End
Reported by Krity Ambey
Edited by Rajeev Pai
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