₹65,000 Crores: The Banking System's Unclaimed Secret

According to the Reserve Bank of India, over ₹65,000 crores sits unclaimed in Indian bank accounts. These are savings accounts, fixed deposits, and recurring deposits where the account holder has died or become inactive, and no legal heir has come forward to claim the funds.

The problem is not that families do not exist. It is that they do not know these accounts exist. A father opens an FD at a branch near his office. He does not mention it at home. He dies. The family closes his known accounts but never discovers the FD. It sits there, eventually transferred to the RBI's Depositor Education and Awareness Fund.

Even when families know about an account, claiming it without a will or nominee is a legal maze. Banks require succession certificates, legal heir certificates, indemnity bonds, and sometimes court orders. The process takes months to years and costs thousands in legal fees.

The solution is straightforward but requires action while you are alive. Document every bank account, FD, RD, and locker in one place. Ensure nominees are updated. Write a will that specifically mentions financial assets. Share the location of this information with your trusted family member.

Sort My Legacy's Financial Inventory covers all 12 asset categories including bank accounts, fixed deposits, and lockers. Every entry includes nominee tracking. Your family gets a complete picture, not scattered passbooks in forgotten drawers.