Finance Minister Nirmala Sitharaman has launched a nationwide campaign, 'Your Money, Your Right', to help citizens trace and recover nearly ₹80,000 crore of unclaimed deposits, dividends, shares, and mutual funds lying idle across banks and financial institutions.
New Delhi : The Indian government is set to launch a nationwide campaign to help citizens reclaim nearly ₹80,000 crore worth of unclaimed deposits, dividends, shares, mutual funds, and other savings stuck in banks and financial institutions. Finance Minister Nirmala Sitharaman will formally inaugurate the three-month campaign, titled *“Your Money, Your Right”*, in Gandhinagar, Gujarat, on Saturday.
The initiative will be led by the Department of Financial Services (DFS) in coordination with the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Securities and Exchange Board of India (SEBI), and the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs.
According to the Ministry of Finance, a large volume of funds remain unclaimed for years due to outdated account details or lack of awareness. To simplify the process, the government is preparing clear Standard Operating Procedures (SOPs), Frequently Asked Questions (FAQs), and step-by-step guidelines so that rightful owners or their legal heirs can easily trace and claim their money.
Officials stressed that the objective of the campaign is not only to return unclaimed money but also to enhance financial literacy and strengthen inclusion. Earlier this year, reports suggested that the Centre may direct state-run banks to settle at least 30–40% of the unclaimed deposits during FY26 by identifying regions with high concentrations of such funds and setting branch-level targets.
The RBI has already mandated, effective April 1, that banks publish details of unclaimed deposits on their websites along with a public search tool. Customers can also use the RBI’s UDGAM portal to check their unclaimed deposits, though they must currently visit the respective bank branch to complete the claim process. Upcoming reforms are expected to digitize this system, enabling customers to retrieve funds online.
In addition, the Banking Laws (Amendment) Act, 2025, which came into effect on August 1, has increased the number of nominees per bank account from one to four. This change is aimed at simplifying the identification of beneficiaries in cases of dormant accounts.
With this campaign, the government hopes to ensure that citizens’ hard-earned savings no longer remain forgotten, while making the recovery process transparent and hassle-free.
New Delhi : The Indian government is set to launch a nationwide campaign to help citizens reclaim nearly ₹80,000 crore worth of unclaimed deposits, dividends, shares, mutual funds, and other savings stuck in banks and financial institutions. Finance Minister Nirmala Sitharaman will formally inaugurate the three-month campaign, titled *“Your Money, Your Right”*, in Gandhinagar, Gujarat, on Saturday.
The initiative will be led by the Department of Financial Services (DFS) in coordination with the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Securities and Exchange Board of India (SEBI), and the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs.
According to the Ministry of Finance, a large volume of funds remain unclaimed for years due to outdated account details or lack of awareness. To simplify the process, the government is preparing clear Standard Operating Procedures (SOPs), Frequently Asked Questions (FAQs), and step-by-step guidelines so that rightful owners or their legal heirs can easily trace and claim their money.
Officials stressed that the objective of the campaign is not only to return unclaimed money but also to enhance financial literacy and strengthen inclusion. Earlier this year, reports suggested that the Centre may direct state-run banks to settle at least 30–40% of the unclaimed deposits during FY26 by identifying regions with high concentrations of such funds and setting branch-level targets.
The RBI has already mandated, effective April 1, that banks publish details of unclaimed deposits on their websites along with a public search tool. Customers can also use the RBI’s UDGAM portal to check their unclaimed deposits, though they must currently visit the respective bank branch to complete the claim process. Upcoming reforms are expected to digitize this system, enabling customers to retrieve funds online.
In addition, the Banking Laws (Amendment) Act, 2025, which came into effect on August 1, has increased the number of nominees per bank account from one to four. This change is aimed at simplifying the identification of beneficiaries in cases of dormant accounts.
With this campaign, the government hopes to ensure that citizens’ hard-earned savings no longer remain forgotten, while making the recovery process transparent and hassle-free.
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