Centre helps citizens reclaim Rs 2,000 Cr in unclaimed assets

The Union government has helped citizens recover nearly ₹2,000 crore worth of long-unclaimed financial assets lying across banks, insurance firms, mutual funds, shares, dividends and retirement accounts, according to an official statement issued on Friday.

The recoveries were made under the Centre’s nationwide awareness and facilitation campaign, Your Money, Your Right, launched in October 2025. The initiative is being coordinated by the Department of Financial Services under the Ministry of Finance, in collaboration with financial regulators and district-level outreach networks.

Over the years, large volumes of household savings have remained unclaimed due to factors such as lack of awareness, outdated contact details, migration, or missing documentation. Officials clarified that these funds remain safely held with regulated financial institutions and have not been lost or misused.

The scale of unclaimed assets remains substantial. As per official estimates, unclaimed bank deposits amount to around ₹78,000 crore, unpaid insurance claims are close to ₹14,000 crore, unclaimed mutual fund amounts are about ₹3,000 crore, and unpaid dividends nearly ₹9,000 crore.

Such assets typically arise when bank accounts remain inactive for over ten years, insurance claims are not settled, mutual fund proceeds or dividends remain undelivered due to account changes, or pension and retirement benefits go unclaimed.

The government said the initiative aims to reconnect individuals and legal heirs with their rightful assets through simplified procedures and transparent systems. It is working closely with regulators including the RBI, IRDAI, SEBI, PFRDA and the Investor Education and Protection Fund Authority.

The effort, officials said, reflects the Centre’s broader push for consumer protection, financial inclusion and strengthening public trust in the formal financial system.