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The Reserve Bank of India (RBI) has directed banks to speed up the settlement of unclaimed funds between October and December. Banks held about ₹67,270 crore in unclaimed deposits as of June 2025, according to RBI data presented in Parliament.
What is an unclaimed deposit?
Savings and current accounts are treated as unclaimed if they remain inactive for 10 years. Fixed and recurring deposits are considered unclaimed if proceeds are not collected within 10 years from the maturity date.
Once this period has elapsed, banks transfer the money to the
