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Unclaimed Deposits: RBI’s 3-Month Settlement Drive

25 September 20251 min read
BANKING & FINANCEUnclaimedDeposits: RBI’s3-MonthSettlement Drive25 September 2025safalsetu.com

Why in the news

RBI asked banks to use the last quarter of 2025 to return unclaimed money to rightful owners.

Covered funds

  • Dormant savings or current balances.
  • Unclaimed fixed or recurring deposit proceeds.
  • Unencashed interest warrants and dividends.
  • Unclaimed pension or gratuity.

Rules

  • Accounts unoperated for 10 years, or term deposits unclaimed 10 years after maturity, go to the DEA Fund.
  • Depositors can still claim later with interest.
  • Banks keep a separate ledger and report periodically to RBI.

Exam angle

  • Drive: October-December 2025.
  • Fund: Depositor Education and Awareness Fund.

Test yourself

1. For how long must a savings account remain unoperated before its funds are treated as unclaimed?

The notes give 10 years for savings and current accounts.

2. Where are long-unclaimed bank deposits transferred at RBI?

Such funds go to the DEA Fund and can be claimed later with interest.

3. During which period did RBI ask banks to run the unclaimed funds settlement drive?

RBI directed a 3-month drive from October to December 2025.

This topic is part of Daily Current Affairs 24 September 2025 (15 topics).

All topics of the dayDay quizSeptember 2025

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