Current · Source: Reserve Bank of India · RBI/2011-12/389 · issued 07 Feb 2012 · ~2 min read
Quick answerBanks must list accounts inactive for 10+ years on their websites with names and addresses only, plus a search feature, by June 30, 2012.
The rule, in the simplest words
Banks must list accounts inactive for 10+ years on their websites with names and addresses only.
The list should include a search feature to help locate account holders or heirs.
Banks must provide clear claim processes and necessary forms on their websites.
Banks should update the list at regular intervals and ensure operational safeguards to verify claimant genuineness.
How it plays out — a real example
As a branch operations officer in Indore, I have to regularly review our bank's website to ensure that we are displaying the list of unclaimed deposits/inoperative accounts as per RBI guidelines. If I find an account that has been inactive for over 10 years, I will make sure to add it to the list with the account holder's name and address, but not the account number or branch details. I will also ensure that the list is easily searchable and that we have clear instructions on how to claim the unclaimed deposit or reactivate the account.
What changed
RBI now mandates banks to proactively display unclaimed deposits/inoperative accounts (inactive for 10+ years) on their websites. Earlier circulars only required annual reviews and due diligence for activation. This adds a public disclosure layer to help locate account holders or heirs.
What it means for you
Banks must publish names and addresses of holders of accounts dormant for a decade or more, without revealing account numbers or branch details. This increases transparency and reduces the risk of unclaimed funds remaining untraced. Lenders need to update websites regularly and provide clear claim processes.
What you must do
Identify all savings/current accounts inactive for 10 years or more as of the review date.
Publish a searchable list on your bank's website with only account holder names and addresses by June 30, 2012.
Include names of authorized operators for non-individual accounts, but never disclose account numbers or branch names.
Provide clear instructions, forms, and documents on the website for claiming unclaimed deposits or reactivating accounts.
Update the list at regular intervals and ensure operational safeguards to verify claimant genuineness.
Who it affects
All scheduled commercial banks (excluding RRBs), Customers with inoperative accounts, Legal heirs of account holders, Bank compliance and operations teams
❓ Common questions
What qualifies as an unclaimed deposit or inoperative account under this circular?
Accounts that have been inactive or inoperative for ten years or more from the date of last operation.
Can we display account numbers or branch names on the website?
No. The circular explicitly prohibits disclosing account numbers, account types, and branch names. Only names and addresses of holders (and authorized operators for non-individual accounts) should be shown.
What is the deadline for compliance?
Banks must complete the display and related actions by June 30, 2012, and keep the website updated at regular intervals thereafter.
📜 Read the original circular — full text as issued by RBI
RBI/2011-12/389
DBOD.No.Leg.BC. 81/09.07.005/2011-12
February 7, 2012
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir,
Unclaimed Deposits/ Inoperative Accounts in Banks -
Display list of Inoperative Accounts
Please refer to our Circular DBOD.No.Leg.BC.34/09.07.005/2008-09 dated August 22, 2008 , wherein detailed instructions have been given to banks on dealing with unclaimed deposits / inoperative accounts. They have been advised to find the whereabouts of the customers and their legal heirs. These instructions, inter alia, include i) annual review of accounts in which there are no operations, ii) operations in such accounts to be allowed after due diligence and iii) no charge to be levied for activation of inoperative account, etc.
2. Keeping in view public interest, it has been decided that banks should, in addition to the instructions contained in the above mentioned circular, play a more pro-active role in finding the whereabouts of the accountholders of unclaimed deposits/ inoperative accounts. Banks are, therefore, advised that they should display the list of unclaimed deposits/inoperative accounts which are inactive / inoperative for ten years or more on their respective websites. The list so displayed on the websites must contain only the names of the account holder(s) and his/her address in respect of unclaimed deposits/inoperative accounts. In case such accounts are not in the name of individuals, the names of individuals authorized to operate the accounts should also be indicated. However, the account number, its type and the name of the branch shall not be disclosed on the bank’s website. The list so published by the banks should also provide a “Find” option to enable the public to search the list of accounts by name of the account holder.
3. Banks should also give on the same website, the information on the process of claiming the unclaimed deposit/activating the inoperative account and the necessary forms and documents for claiming the same. Banks are required to have adequate operational safeguards to ensure that the claimants are genuine.
4. Banks should complete action as above by June 30, 2012 and keep their websites updated at regular intervals.
Yours faithfully,
(Deepak Singhal)
Chief General Manager –in-Charge
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2011-12/389 · issued 07 Feb 2012. The plain-English explanation above is BankPulse’s own independent summary.
Include names of authorized operators for non-individual accounts, but never disclose account numbers or branch names.
📜 Compliance
Identify all savings/current accounts inactive for 10 years or more as of the review date.
Publish a searchable list on your bank's website with only account holder names and addresses by June 30, 2012.
Provide clear instructions, forms, and documents on the website for claiming unclaimed deposits or reactivating accounts.
Update the list at regular intervals and ensure operational safeguards to verify claimant genuineness.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (All scheduled commercial banks (excluding RRBs), Customers with inoperative accounts, Legal heirs of account holders, Bank compliance and operations teams), your first concrete step on “Display Unclaimed Deposits on Bank Websites” is: “Identify all savings/current accounts inactive for 10 years or more as of the review date.” (RBI issued this 07 Feb 2012).
Circular: RBI/2011-12/389 -- Display Unclaimed Deposits on Bank Websites
Issued: 07 Feb 2012
Action required: Identify all savings/current accounts inactive for 10 years or more as of the review date.
Action required: Publish a searchable list on your bank's website with only account holder names and addresses by June 30, 2012.
Action required: Include names of authorized operators for non-individual accounts, but never disclose account numbers or branch names.
Action required: Provide clear instructions, forms, and documents on the website for claiming unclaimed deposits or reactivating accounts.
Action required: Update the list at regular intervals and ensure operational safeguards to verify claimant genuineness.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=6994&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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