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Unclaimed Bank Deposits: Finance Ministry Reviews PSBs

10 January 20261 min read
BANKING & FINANCEUnclaimed BankDeposits: FinanceMinistry ReviewsPSBs10 January 2026safalsetu.com

Why in the news

A senior meeting called by the Finance Ministry on January 14 was to check how well public sector banks settle unclaimed deposits and assets.

Key facts

  • Reviewer: Ministry of Finance. Banks: PSBs.
  • DEA Fund transfer: ₹63,939 crore by PSBs, as of March 31, 2025.
  • PSBs must facilitate claims and report unclaimed funds regularly.

About unclaimed deposits

Balances neither operated nor claimed by the depositor for a long stretch, generally ten years, are passed by banks to the Depositor Education and Awareness (DEA) Fund of the Government of India.

Exam angle

  • Fund: DEA Fund.
  • Typical dormancy: 10 years.
  • Figure: ₹63,939 crore.

Test yourself

1. Unclaimed bank deposits are transferred by banks to which fund?

They go to the DEA Fund under the Government of India.

2. How much did PSBs transfer to the DEA Fund as of March 31, 2025?

The figure given is ₹63,939 crore.

3. Which ministry monitors PSB progress in settling unclaimed deposits?

The Ministry of Finance oversees this progress.

This topic is part of Daily Current Affairs 10 January 2026 (13 topics).

All topics of the dayDay quizJanuary 2026

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