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News Details

01/10/2025 09:51

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RBI rolls out scheme to cut unclaimed deposits, incentivises banks

The Reserve Bank of India (RBI) on Tuesday announced a year-long incentive scheme aimed at reducing the stock of unclaimed deposits.

Launched under the ‘Scheme for Facilitating Accelerated Payout of Inoperative Accounts and Unclaimed Deposits’, banks will receive differential payouts based on how long an account has remained inoperative and the size of deposits.

According to the RBI, the initiative seeks to bring down both the existing stock of unclaimed deposits and the fresh inflow of such funds into the Depositor Education and Awareness (DEA) Fund.