Unclaimed Deposit
Unclaimed Deposite :
According to RBI norms, balances in savings/current accounts that are not operated for 10 years, or term deposits not claimed within 10 years from the date of maturity, are classified as "unclaimed deposits". After this, banks transfer such money to the 'depositor education and awareness fund' maintained by the Reserve Bank of India (RBI).
Process for refund of Depositor Education and Awareness Fund
DEA Fund as per the Reserve Bank of India (RBI) notification on Depositor Education Awareness Fund (DEA Fund), funds in accounts/deposits that are inoperative/unclaimed for 10 years or more are transferred to the RBI DEA Fund Scheme along with interest.
If the customer has identified any such deposit, they can claim their fund by visiting the nearest Udham Singh Nagar District co-operative Bank Branch.
Link to RBI FAQ's on DEA FundDeaf Claim Form
Unclaimed Deposit List
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