Nearly ₹2,000 crore has already been returned to individuals under the government’s ‘Your Money, Your Right’ initiative, launched in October 2025 to help citizens recover forgotten or unclaimed financial assets. A large pool of public money continues to remain unclaimed across banks, insurers, mutual funds and corporate entities, and the initiative aims to simplify the process of tracing and reclaiming these amounts.
Scale of Unclaimed Financial Assets in India
Across financial institutions, unclaimed balances remain substantial:
- ₹78,000 crore lying unclaimed with banks
- ₹14,000 crore with insurance companies
- ₹3,000 crore with mutual funds
- ₹9,000 crore in unpaid dividends and unclaimed shares
These amounts represent accumulated savings, insurance proceeds, maturing deposits and investments that individuals or their families may have overlooked over the years.
How the Initiative Works
To make the reclaiming process easier, regulators have introduced dedicated digital portals:
- RBI – UDGAM Portal: Unclaimed bank deposits and balances
- IRDAI – Bima Bharosa Portal: Unclaimed insurance policy proceeds
- SEBI – MITRA Portal: Unclaimed mutual fund amounts
- MCA – IEPFA Portal: Unpaid dividends and unclaimed shares
These platforms allow users to verify unpaid amounts linked to their PAN, mobile number or account details and initiate the claim process digitally.
In addition, facilitation camps have been set up across 477 districts, including remote regions, to help individuals who may not be comfortable using online systems.
₹2,000 Crore Already Returned
Through coordinated efforts by regulators, banks, insurers, mutual fund houses and government agencies, about ₹2,000 crore has already been reunited with rightful owners as of December 2025. The movement is expected to scale further as more citizens check and file claims.
Why So Much Money Remains Unclaimed
Common reasons include:
- Change of address or phone number
- Death of the account holder without nominees aware of investments
- Dormant bank accounts and matured FDs
- Old insurance policies with incomplete documentation
- Investors unaware of dividends credited to IEPF after seven years
- Multiple demat or folio numbers across fund houses
A significant portion can be recovered if families regularly track financial records and update KYC and nominee details.
What Citizens Should Do
A CA firm can guide clients through the following steps:
- Check all four portals for unclaimed deposits, insurance proceeds, mutual fund balances and dividends.
- Update KYC, PAN and nominee details across banks, insurers and investment accounts.
- Collect supporting documents such as ID proof, address proof, cancelled cheque, policy documents or demat statements.
- File claims promptly to avoid future transfer of funds to IEPF.
- Visit district facilitation camps if digital access is limited.
Advisory Note for Families and NRIs
- Review financial records of parents and senior family members.
- Check old bank branches, closed accounts or policies paid decades ago.
- NRIs should verify whether earlier Indian accounts or investments have unclaimed balances.
- Maintain a consolidated financial file to avoid future unclaimed assets.
Conclusion
The ‘Your Money, Your Right’ initiative provides a structured, transparent mechanism for reclaiming forgotten financial assets. With over ₹1 lakh crore still lying unclaimed across the financial system, individuals and families stand to benefit significantly by checking their eligibility and filing claims early.