Banking: What if your grandparents forgot to deposit money into their bank account? Get your money back in just three steps..

RBI Update: If you have an old bank account lying dormant, or a family member's money is stuck in the bank as an unclaimed deposit, there's no need to worry. The RBI has provided a way to get your money back in just three easy steps. Learn how to claim your money safely.

Recover Your Grandparents' Forgotten Money Now
If you or your grandparents opened a bank account and have now forgotten about it, or if any family member's money has been lying dormant in the bank for years, this news is extremely useful for you. Recently, the Reserve Bank of India (RBI) has provided significant relief to all such account holders. Now, you can recover the money deposited in your or your family members' old, inactive, or unclaimed bank accounts through a very simple process.

Crores of Rupees Lie Unclaimed Across the Country
According to RBI data, crores of rupees of unclaimed deposits lie in banks across the country. Most of this money is from accounts that have not seen any transactions in the past two years, or where the account holder has passed away and the family was unaware of the account. In fact, if a bank account remains inactive for 10 years, the bank transfers the amount to the RBI's Depositor Education and Awareness (DEA) Fund. However, this money remains yours and can be claimed at any time.

RBI has given a gift
Now the RBI has clearly stated that there is no time limit on this. Now, the RBI has explained the three steps you can follow to get this money back. Yes, the RBI has simplified the claim process so much that you can get your money back in three easy steps without any hassle. This process is transparent, secure, and completely digital. Let's learn the complete process—

Step 1: Search your name on the RBI website
First, go to the official RBI website: [https://www.rbi.org.in/Scripts/DepositorEducation.aspx](https://www.rbi.org.in/Scripts/DepositorEducation.aspx). Here, you will find a search option. Enter your name or that of a family member. The search results will reveal which bank has the balance, how much money is deposited, and how long it has been inactive.

Step 2: File a claim at a bank branch
After this, you can go to any bank branch and fill out the claim form. However, it is not necessary to go to the same bank or branch where you held the account. You can complete this process at any bank branch of your choice.

Step 3: Disburse funds after document verification
The bank will then verify all the documents you provided. Upon successful verification, the entire amount from the DEA fund will be transferred to your account. Therefore, there are no additional charges or fees in this process.

What documents will be required to receive your money back?
At the time of claim, you must submit KYC documents, such as your Aadhaar card, voter ID, passport, driving license, and NREGA card. If an heir is making a claim, they will need to submit additional documents, such as a death certificate, proof of relationship, and a legal heirship certificate.

Special camps are being held across the country.
The RBI has also announced that "Unclaimed Assets Awareness Camps" are being held in all districts of the country from October to December. Bank officials and RBI representatives are present at these camps, assisting people directly on the spot. You can go there and verify your information and immediately begin the claim process.

Why do accounts become inactive?
Sometimes, people don't update their old bank accounts after changing jobs, or after the death of a family member, their families are unaware of their account details, causing some accounts to become inactive. In some cases, people haven't checked their old savings accounts, fixed deposits, or even their PF-linked bank accounts for a long time. This move by the RBI will prove beneficial for all of them.

This RBI move will help.
This move by the RBI has brought great relief to millions of people. So, if you or a family member has money stuck in an old account or FD, it has become very easy to get it back. Simply visit the RBI website, search for your name, and find out where your money is within minutes. This initiative is a major step towards increasing transparency and ensuring people get what they deserve – don't forget, claim your money immediately.

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