Unclaimed deposits held by Indian banks have increased substantially over the years. According to Reserve Bank of India (RBI) data, a total of ₹74,580.25 crore was parked in the Depositor Education and Awareness (DEA) Fund as of March 31, 2025. This fund aggregates balances from accounts that have remained inactive for a prolonged period.
Among public sector lenders, Punjab National Bank (PNB) accounts for a sizeable share of these dormant balances.
Official figures show that PNB’s unclaimed deposits stood at ₹6,555.34 crore as of March 31, 2025. This amount represents around 8.79% of the total corpus maintained in the RBI’s DEA Fund. The balances primarily originate from savings and current accounts that have not seen any customer-initiated activity for a decade or longer.
Classification of Unclaimed Deposits at PNB
A deposit is treated as unclaimed when an account records no transactions initiated by the customer for a continuous period of 10 years. After completion of this period, the outstanding balance is transferred by the bank to the RBI-managed DEA Fund.
Several factors contribute to accounts becoming unclaimed, including account holders moving to new locations, absence of nominee details, lack of awareness among legal heirs after the account holder’s death, and outdated contact information maintained with the bank.
PNB’s Share in the DEA Fund
Punjab National Bank is the second-largest contributor to the DEA Fund among public sector banks, following the State Bank of India. With unclaimed balances of ₹6,555.34 crore as of the end of March 2025, PNB remains one of the major banks where dormant customer funds continue to be recorded.
Process to Claim Unclaimed Deposits from PNB
Claims for unclaimed deposits can be submitted without any prescribed time limit. The process is initiated at the branch where the original account was held.
To file a claim, the claimant is required to submit a written request along with valid Know Your Customer (KYC) documents such as Aadhaar, voter ID, or passport. Proof of account ownership or legal heirship, where applicable, must also be furnished. After verification, the bank processes the request and arranges for the refund.
Once the claim is approved, PNB coordinates with the RBI to receive the corresponding amount from the DEA Fund and credits it to the claimant.
Role of the Reserve Bank of India
The RBI facilitates refunds by reimbursing banks from the DEA Fund after valid claims are settled. Between FY 2020–21 and FY 2024–25, banks collectively received reimbursements exceeding ₹10,400 crore to enable payments to eligible claimants. This system allows recovery of long-inactive deposits originally held with banks such as PNB.
Summary
As of March 31, 2025, Punjab National Bank held ₹6,555.34 crore in unclaimed deposits, accounting for 8.79% of the total balance in the RBI’s Depositor Education and Awareness Fund. These funds arise from accounts inactive for 10 years or more and are eligible for refund through a defined claim process involving bank verification and RBI reimbursement.
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