Unclaimed Financial Assets Worth ₹1.84 Lakh Crore With Institutions
The Union Finance Ministry has revealed that ₹1.84 lakh crore in financial assets remain unclaimed across banks, regulatory bodies, and financial institutions. To address this, Finance Minister Nirmala Sitharaman launched a nationwide campaign titled “Aapki Poonji, Aapka Adhikar (Your Money, Your Right)” that will last three months.
Extent Of Unclaimed Assets
The unclaimed funds include bank deposits, insurance payouts, dividends, mutual fund balances, pensions, provident funds, and shares. Depending on the type of asset, unclaimed amounts are held with banks (for deposits), or transferred to regulators like the RBI or the Investor Education and Protection Fund (IEPF). Over time, assets move between institutions when they remain unclaimed.
Campaign Objectives
The campaign aims to ensure rightful owners regain access to these funds. Officials will focus on three pillars:
- Awareness — Informing citizens about possible unclaimed assets,
- Accessibility — Simplifying the claim processes and digital tools,
- Action — Ensuring claims are settled efficiently.
The government assures that the funds are safe and will be returned when claimants present proper documentation.
Implementation And Challenges
An online portal and helpdesks will support citizens in locating and claiming their assets. Authorities will coordinate across banks, insurance firms, mutual funds, and pension bodies. One challenge is tracing rightful owners, especially when account details have changed or claimants are unaware of their entitlements.
The campaign reflects a push for financial inclusion and transparency, aiming to reconnect millions with their dormant savings.
