Overview
The Depositor Education and Awareness (DEA) Fund Scheme, 2014, was instituted by the Reserve Bank of India (RBI) under Section 26A of the Banking Regulation Act, 1949. The scheme aims to promote depositor awareness and safeguard the interests of depositors whose funds have remained unclaimed or inoperative for over 10 years.
Since its inception, the DEA Fund Scheme has undergone several updates. In 2025, the RBI undertook a comprehensive review of all existing operational guidelines to streamline and consolidate multiple instructions issued since 2014. This was necessary to align with evolving banking practices, improve operational clarity, and enhance depositor protection. The revised guidelines aim to ensure transparency, accountability, and efficient processing through the e-Kuber system, issued under Sections 26A and 35A of the Banking Regulation Act, and will come into effect from October 1, 2025.
Applicability
These guidelines shall apply to:
Amounts to be Credited to Depositor Education and Awareness (DEA) Fund
Credit balances in any deposit account maintained with banks, which have not been operated upon for 10 years or more, or any amount remaining unclaimed for 10 years or more, as under:
Deposit Accounts
- Savings bank deposit accounts
- Fixed or Term Deposit Accounts
- Cumulative/ recurring deposit accounts
- Current deposit accounts
- Other deposit accounts in any form or with any name
Unutilized & Contingent Financial Liabilities
- Undrawn balances on prepaid bank-issued cards
- Rupee proceeds from converted foreign currency deposits held by banks
- Outstanding remittances and payments instruments
Adjusted Loans and Secured Advances
- Margin money against Letters of Credit, Guarantees, or security deposits
- Loan accounts after due appropriation by the banks
- Cash credit accounts
- Other amounts as may be specified
Key Operational Updates
-
Registration on e-Kuber
- Register under the DEA Fund module on e-Kuber platform by submitting 2 official email IDs to RBI.
- Registration for non-member banks to be routed through their sponsor banks.
-
Designation of Authorised Signatories
- Nominate up to 10 authorised signatories for DEA Fund operations.
- Support such authorisation of signatories by a certified Board resolution or equivalent authority and any changes there on must be reported.
-
Transfer of Unclaimed Amounts
- Unclaimed deposits (inoperative for 10 years or more), including accrued interest, to be transferred to the Fund during the last 5 working days of each month.
- Transfers are to be made via the “DEA Fund Services” module in e-Kuber and for Non-member banks it must be remitted through their sponsor banks.
Refund Claim Process
- Repay the depositor, upon receipt of request by Bank.
- Seek reimbursement from the DEA Fund by submitting a signed and audited Form II, along with Form III (Reconciliation Certificate) and Form VI (Annual Certificate), within 3 working days of the e-Kuber submission.
- Claims will be credited to the bank’s account (or sponsor bank’s account in the case of non-member banks) by month-end, subject to verification.
Note:
- Depositor refers to the bank customer whose unclaimed deposits or balances, including accrued interest (if any), have been transferred by the bank, to the DEA Fund, after the account remains inoperative or unclaimed for the prescribed period.
- Monthly Transfer Window for Funds: Last 5 working days of every month (one transfer per bank).
- Refund Claim Window: First 10 working days of the following month (one consolidated claim per bank).
- Reserve Bank of India sends auto-acknowledgments via e-Kuber upon submission.
Mandatory Returns Submission by Banks
- Form I: Monthly statement from e-Kuber; confirmation required online.
- Form III (Reconciliation Certificate): Half-yearly return to be certified by auditors.
- Rectification Form: To be submitted within 2 weeks for any discrepancies.
- Form VI (Annual Certificate): Statutory audit report, to be submitted within 1 month of audit completion, but no later than September 30.
Note:
- All forms shall be sent both by post and via email (PDF) to dea.fund@rbi.org.in.
- Detailed, customer level records for all amounts transferred or claimed, duly verified by internal/ concurrent auditors are to be maintained, including validation by the statutory auditors.
- Keep contact details updated with the RBI.
References
Disclaimer
The information provided in this article is intended for general informational purposes only and should not be construed as legal advice. The content of this article is not intended to create and receipt of it does not constitute any relationship. Readers should not act upon this information without seeking professional legal counsel.