New Delhi: The Government is ready to launch a nationwide campaign to awareness of awareness of helping citizens to track and get back their forgotten assets as close £80 000 crore lies junk in deposits, dividends, shares, mutual funds and other savings tools.
Finance Minister Nirmala Sitharaman will start a three -month campaign “Your Money, Your Right” in Gandhinagar, Gujarat, 4 October.
The Ministry of Finance (DFS) coordinates the campaign with the Indian Reserve Bank (RBI), the Indian Regulatory and Development Office of India (Irdai), the Indian Council for Securities and Exchange (SEBI) and the Office for Education and Protection of Investors (IEPFA) under the Ministry of Business Affairs.
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“Unsolicited financial assets, including claims for insurance contracts, banking deposits, dividends, shares and income from mutual funds, often remain unsolicited due to lack of consciousness or outdated account data,” the Ministry of Finance said on Wednesday.
“The Indian government has undertaken to ensure that every rupee saves citizens who can rightly claim, or their legal heirs and nominated. The campaign will encourage people to actively participate, expand awareness and strengthen financial integration into every household,” he added.
Claim your money
The Ministry stated that it seeks to seize citizens by providing clear information on how to monitor and request its legitimate money, supported by standard operational procedures (SOP) and often asked questions (FAQ) developed by relevant fund regulators to facilitate and transparent.
On April 24, Mint announced that it quoted resources that the center could ask state banks to settle at least 30%-40% £78 000 crore unsolicited deposits in their books during FY26.
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To achieve this, the government is likely to direct the banks of the public sector (PSB) to identify regions with the highest concentration of unsolicited deposits, set quarterly branches and introduce standard operational procedures along with the new RBI rules, Mint said.
Revised RBI instructions, effective 1 April, require that banks on their website show unsolicited deposit data with public search function.
Certainly, the settlement of unsolicited deposits was also part of the reform of the government reform (increased attitude and perfection of services) for PSB this fiscal.
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The process of digital claim
Currently, customers can check unsolicited deposits via UDGAM RBI.
However, to complete the claim process, it must visit the relevant branch of the bank. The proposed changes that are scheduled to take over would digitize and simplify this process, and eventually allow searching online deposits.
Meanwhile, the Banking Act (amendment), 2025, increased the number of nominated for a bank account from one to four, which made it easier to identify recipients if the account becomes a dormant. The key provisions of the Act came into force on August 1, 2025.
(Tagstotranslate) Unnatated India (T) Deposits Your Money Your Right Campaign (T) Experience Forgotten Asset India (T) UNSPRIED BANK ACCOUNTS (T) RBI UDGAM Portal
