Nagpur: An RTI application filed by Nagpur-based activist Abhay Kolarkar has revealed staggering figures related to unclaimed bank deposits, fraud complaints and banking grievances across the country, once again drawing attention to the growing pile of idle money lying unclaimed in the banking system.
According to the reply provided under the Right to Information (RTI) Act by the Reserve Bank of India, unclaimed deposits held with banks under RBI jurisdiction stood at a massive Rs 83,876.57 crore as of March 31, 2026.
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The information was sought by Abhay Kolarkar, who had filed an RTI application seeking details regarding unclaimed deposits, fraud cases and complaints against banks during the financial years 2023-24 to 2025-26.
In its response, RBI stated that during the period from April 1, 2025 to March 31, 2026, banks returned unclaimed deposits worth Rs 5,043.16 crore, including interest, to depositors through the Depositor Education and Awareness Fund mechanism.
However, the central bank clarified that customer-wise and account-wise details of unclaimed deposits are not maintained by RBI.
The RTI response further disclosed that thousands of complaints against banks continue to pour into RBI Ombudsman offices. The banking regulator stated that annual complaint figures are available in the Ombudsman Annual Reports published on the RBI website.
Another significant revelation in the RTI pertains to cyber fraud and banking fraud cases. RBI informed the applicant that bank-wise fraud data reported by commercial banks has been provided in annexures based on the date of reporting. However, detailed consolidated data regarding complaints against cooperative banks was not furnished.
The RBI stated that during the financial year 2025-26, a total of 4,191 complaints against cooperative banks were received by RBI Ombudsman offices. However, it declined to provide bank-wise compiled information, stating that such data is not maintained in a consolidated format and compiling it would disproportionately divert the institution’s resources under provisions of the RTI Act.
The disclosures have once again raised concerns over the enormous volume of unclaimed money lying in banks and the increasing number of fraud-related complaints in the banking sector. Financial experts believe many depositors and legal heirs remain unaware of dormant accounts, matured deposits and forgotten savings, leading to large sums remaining untouched for years.
The RTI reply has also sparked debate over whether banks and financial institutions are doing enough to proactively trace rightful account holders and spread awareness regarding unclaimed deposits and cyber fraud prevention.
