India has about Rs 50,000 crore ($12bn) of unclaimed assets, including unclaimed shares and dividends, from small savings funds, insurance, and Rs 35,012 crore from different banks, according to Harsh Roongta. A deposit, deemed unclaimed after 10 years is transferred to the Reserve Bank of India’s Depositors Education and Awareness Fund. Roongta highlighted that each bank has its own database, making it challenging for people to search for their unclaimed deposits.