Efforts by the Reserve Bank of India (RBI) and the central government to help individuals recover unclaimed financial assets have begun to deliver strong results, with payouts to depositors witnessing a significant surge in recent months.

Monthly Recoveries Show Strong Upward Trend

According to data released by the RBI, the amount returned to customers from unclaimed bank deposits climbed to ₹1,043 crore in December. This marks a substantial jump from the pre-campaign monthly average of ₹100–₹200 crore.

The recovery trend has been steadily improving over the past few months. Depositors received ₹759 crore in October, which increased to ₹802 crore in November, before crossing the ₹1,000 crore mark in December.

Highlighting this progress, RBI Deputy Governor S. C. Murmu noted that the month-on-month figures clearly demonstrate the effectiveness of the outreach efforts. He added that recoveries have accelerated significantly compared to earlier levels and expressed optimism that January numbers would be even stronger.

Size of Unclaimed Deposits and Government Initiative

The RBI estimates that the total value of unclaimed bank deposits, including accrued interest, stands at around ₹85,000 crore.

To address this, the government rolled out a nationwide campaign in December titled “Aapki Poonji, Aapka Adhikar – Your Money, Your Right.” The initiative aims to simplify and speed up the process of identifying and settling unclaimed financial assets across the country.

The campaign brings together multiple financial regulators, including the RBI, the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Pension Fund Regulatory and Development Authority (PFRDA), and the Investor Education and Protection Fund Authority (IEPFA).

Digital Platforms Ease the Claim Process

Regulators have credited technology-driven platforms for making it easier for citizens to locate and claim their funds. Key digital tools include the RBI’s UDGAM portal for unclaimed bank deposits, IRDAI’s Bima Bharosa platform for insurance-related claims, and SEBI’s MITRA platform for capital market investments.

Officials said that during the first two months of the campaign alone, claims worth nearly ₹2,000 crore were successfully processed, underscoring the impact of coordinated regulatory efforts and digital accessibility.

Summary

Targeted campaigns by the RBI and the government have significantly boosted the recovery of unclaimed bank deposits, with payouts reaching ₹1,043 crore in December—far above earlier averages. A nationwide initiative supported by multiple regulators and user-friendly digital platforms has made it easier for citizens to trace and claim their funds, resulting in recoveries of around ₹2,000 crore within the first two months of the campaign.

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