Current Affairs - Finance - Discussion

As of June 30, 2025, unclaimed bank deposits in India have reached a total of ₹67,003 crore, reflecting a growing concern within the financial system. The majority of these funds are lying with public sector banks, led by the State Bank of India, with over ₹19,000 crore. In response, the Reserve Bank of India (RBI) has launched the UDGAM portal to streamline the process for individuals to locate and claim these dormant funds. This initiative emphasises the importance of financial awareness and inclusion, while also addressing inefficiencies caused by inactive accounts and improving transparency within the banking system.