Unclaimed bank deposits hit Rs 60,518 cr

Metro India News | new delhi

Public sector banks (PSBs) have transferred a total of Rs 60,518 crore in unclaimed deposits to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund by the end of January 2026, the Rajya Sabha was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary said in a written reply that unclaimed insurance amounts stood at Rs 8,973.89 crore as of February-end, while mutual funds under SEBI regulations held Rs 3,749.34 crore in unclaimed amounts.

The government and financial regulators are taking steps to identify rightful claimants promptly, reduce the existing stock of unclaimed assets, and simplify the claim process for citizens. Chaudhary noted that measures are being implemented to both control the accumulation of fresh unclaimed amounts and make the process faster for depositors.

On another note, the minister highlighted investors’ steady interest in Sovereign Green Bonds (SGrBs). Since their launch in FY 2022-23, the average bid-cover ratio—a measure of demand in bond auctions—has stayed above 2, reaching 2.32 in FY 2025-26. In the most recent auction on November 28, 2025, SGrB investors offered a “greenium” premium of 7 basis points over conventional bonds, showing continued attraction for environmentally focused investors.

Chaudhary also confirmed there are currently no plans to introduce tax incentives for SGrB investors, while emphasizing that the bonds remain an important tool to mobilize climate finance.

The figures underline the scale of unclaimed financial assets in India and highlight ongoing efforts to make the system more citizen-friendly while keeping green investments attractive.