Govt. Developing Unified Portal to Claim All Unclaimed Financial Assets
The Finance Ministry and the Reserve Bank of India (RBI) are collaborating to develop a unified, integrated portal to help savers and retail investors easily claim their unclaimed assets across the entire financial sector.
The initiative, announced by Department of Financial Services Secretary M Nagaraju, is part of a broader awareness campaign called Aapki Poonji Aapka Adhikar (Your Money Your Right) and aims to tackle the huge amount of idle unclaimed funds caused by a lack of awareness and outdated records.
The Need for a Unified Portal
Currently, citizens must navigate separate portals launched by individual regulators to search for unclaimed funds across different asset classes:
| Regulator | Existing Portal | Unclaimed Assets Covered |
| RBI | UDGAM (Unclaimed Deposits – Gateway to Access inforMation) | Bank Deposits |
| SEBI | MITRA (Mechanism for Investors to Track Rightful Assets) | Shares, Dividends, Mutual Funds |
| IRDAI | Bima Bharosa | Insurance Policy Claims |
The new, integrated portal, to be coordinated by the RBI, will serve as a single gateway, consolidating information from all financial-sector regulators.
Rationale: The unified system will make it substantially easier for citizens to locate their unclaimed funds, enhancing convenience, transparency, and trust.
Asset Classes Covered: The portal will help citizens claim unclaimed assets, including bank deposits, pension funds, shares, dividends, insurance policy claims, and mutual fund proceeds.
Current Recovery Efforts and Campaign
The push for a unified portal comes amid a nationwide campaign launched by Finance Minister Nirmala Sitharaman in October to raise awareness about unclaimed financial assets.
Recoveries Update: Outreach and facilitation efforts have already resulted in the return of ₹1,887 crore to rightful owners or their nominees. The government intends to accelerate the pace of settlements as digital access improves.
Campaign Activities: During these awareness camps, citizens are provided on-the-spot guidance on how to search for their assets, update records, and complete claim procedures, often featuring step-by-step digital demonstrations.
This effort represents a concerted government thrust on financial inclusion and education to ensure citizens receive their rightful savings.
Explore Unclaimed Assets
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