₹73,000 crore in unclaimed bank deposits, insurance, and mutual funds: How to check if it’s yours

If you have ever forgotten an old bank account, let an insurance policy lapse, or forgotten any mutual fund investment, you may not be alone.

The Ministry of Finance told the Rajya Sabha on Tuesday that public sector banks alone have transferred ₹60,518 crore in unclaimed deposits to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund as of January 2026.

• ₹8,973.89 crore in insurance policies that remain unclaimed as of February-end

• ₹3,749.34 crore in mutual fund investments lying idle under Securities and Exchange Board of India (Sebi) regulations

Why does so much money go unclaimed?

Financial assets become unclaimed when accounts or policies remain inactive for years. Common reasons include:

• Bank accounts or fixed deposits left dormant

• Insurance claims were never filed

• Mutual fund units forgotten or left unredeemed

• Missing nominee details

Even though the funds are transferred to regulatory escrow accounts like the RBI’s DEA Fund, the money still belongs to the investor.

Government moves to simplify claims

Minister of State for Finance Pankaj Chaudhary said regulators are taking steps to:

• Identify rightful claimants faster

• Reduce the backlog of unclaimed assets

• Simplify and expedite the claims process for citizens

“In order to ensure timely identification of rightful claimants, reducing both the existing stock of unclaimed financial assets as well as the fresh accretion to it and to simplify and expedite the claim process for citizens, various measures have been undertaken by the financial sector regulators,” he told the House.

How you can check your unclaimed money

• Check on your AMC’s website.

• Check the website of the Registrar & Transfer Agent (RTA).

• Log in to MF Central at www.mfcentral.com with your user ID, password or OTP.

• Check your Consolidated Account Statements (CAS) to see if you have an unpaid/unclaimed amount.

• Search on MITRA.

• To check if there are any unclaimed funds, policyholders can make an online enquiry through the insurance company’s website by submitting required details (such as name of the policyholder, date of birth of the policyholder, policy number and PAN).

• Policyholders/beneficiaries can check their insurer’s website links on the Insurance Regulatory and Development Authority of India’s Bima Bharosa portal (https://bimabharosa.irdai.gov.in/).

In case you wish to check if you have any unclaimed funds, you can contact your bank or use RBI’s UDGAM (Unclaimed Deposits Gateway to Access Information) portal to search for unclaimed funds.

To check if you have any unclaimed funds, you can follow these steps:

• Go to udgam.rbi.org.in.

• Register by entering your mobile number, name, password and complete OTP verification.

• Log in using your registered mobile number, password and CAPTCHA.

• Navigate to the ‘Individual’ tab.

• Enter personal details, including the account holder's name and bank(s). You can also select ‘All’ to search all participating banks.

• Submit proof of identity (PAN/voter ID/passport/driving licence number/date of birth).

• Click on search.

The portal will show you the details if a match is found, along with the bank name and the Unclaimed Deposit Reference Number (UDRN).

Account numbers, policy IDs, and ID proof help speed up claims.

Ensure beneficiaries are up to date to avoid complications.

Why this matters

This staggering amount of unclaimed money is a reminder to keep a close eye on your finances. Small forgotten deposits, lapsed insurance policies, or untouched mutual fund investments can quietly add up to a significant sum over time.