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Unclaimed Deposits in Indian Banks: Unclaimed deposits in Indian banks refer to funds held in bank accounts that have been inactive or dormant for a specified period, typically ranging from one to ten years. These deposits include savings accounts, fixed deposits, recurring deposits, and other financial instruments where the account holder has not initiated any transactions.

Causes of Unclaimed Deposits:

• Account Holders' Inactivity: Many accounts become dormant due to account holders moving or neglecting to update contact information.

• Death of Account Holders: In cases where account holders pass away without leaving clear instructions or beneficiaries.

• Ignorance or Oversight: Some individuals may be unaware of funds owed to them or overlook smaller amounts.