The Reserve Bank of India has asked banks to remit deposits classified as unclaimed to the Depositor Education and Awareness Fund (DEAF) by 30th of June. The DEAF scheme was notified in the Official Gazette on 24th of this month.The RBI, in a communication to bank chiefs said that they should calculate the cumulative balances in all such accounts with unclaimed deposits, along with interest accrued till May 23, 2014, and transfer them to the newly created fund. The DEAF was first announced in the annual monetary policy by RBI in May, 2013, with a view to use unclaimed deposits with banks for depositor education and awareness.An unclaimed deposit is one wherein an account is not operated for 10 years or refers to any deposit or any amount remaining unclaimed for more than 10 years.