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Nirmala Sitharaman launches drive to help people claim their unclaimed assets
Finance minister Nirmala Sitharaman said that the campaign carries a simple but powerful message that every rupee saved by citizens must return to them or their families
Ahmedabad: Finance minister Nirmala Sitharaman said on Saturday that financial assets worth ₹1.84 lakh crore remain unclaimed with banks and regulatory authorities and emphasised the need for officials to take proactive measures to reunite these funds with their rightful owners.
The finance minister was speaking at an event in Gandhinagar from where she launched the three-month “Apki Poonji, Apka Adhikar (Your Money, Your Right)” national campaign in the presence of Gujarat finance minister Kanubhai Desai and senior officials from the banks and the finance ministry.
Speaking on the occasion, Sitharaman highlighted that the campaign carries a simple but powerful message that every rupee saved by citizens must return to them or their families.
“Decades have passed during which people who are in the know have constantly voiced this feeling that unclaimed monies lying with banks or RBI or with the IEPF (Investor Education and Protection Fund) need to be returned to their rightful owners. We will have to find the rightful owners and claimants of the funds and hand it over to them. It is their money,” she told the gathering.
“As per the DFS (Department of Financial Services), ₹1,84,000 crore is lying there. It is safe. I can assure you it is absolutely safe. You come when you want with proper papers. Money will be given to you. The government is the custodian for it,” she added.
If the asset remains unclaimed for a long time due to any reason, it gets transferred from one entity to another, the minister said.
Several videos presented before this gathering clearly shows that from banks, the unclaimed money goes to the RBI in case of deposits, and in case of stocks or similar assets, it goes from SEBI to another centre or the IEPF, according to the finance minister.
“The RBI has created the UDGAM (Unclaimed Deposits Gateway To Access Information) portal. So, it is moving from one unclaimed area to another, which is holding this unclaimed deposit… it is like a lovely ripe fruit which is there which you are not able to touch, you are not able to reach it although the fruit belongs to you…The moment you claim it, you get it. So, I honestly think it is high time that all of us spread the word to everyone,” she said.
“Unclaimed deposits, insurance proceeds, dividends, mutual fund balances, and pensions are not mere entries on paper; they represent the hard-earned savings of ordinary families — savings that can support education, healthcare, and financial security”, she said in her speech.
Further, the Union finance minister underlined the importance of the “3 A’s” — Awareness, Accessibility and Action — as the guiding principles of this campaign. Awareness aims to ensure that every citizen and community are informed about how to trace unclaimed assets. Accessibility focuses on providing simplified digital tools and district-level outreach and action emphasises time-bound and transparent claim settlements.
“Together, these three pillars will help bridge the gap between citizens and financial institutions, promoting community awareness and ensuring that every individual can reclaim their rightful savings with dignity and ease”, Sitharaman said.
To ensure wide participation, the campaign will be conducted across all States and Union Territories during October—December 2025. Digital demonstrations and helpdesks will assist citizens in tracing and claiming their unclaimed financial assets with ease, reflecting the Government’s commitment to citizen-centric governance and its broader vision of enhancing ease of living, according to a government press release.
She also acknowledged the proactive role of regional rural banks, particularly, Gujarat Gramin Bank, and other financial institutions, in the recent KYC and re-KYC campaigns, noting that these efforts have strengthened the link between citizens and the formal financial system.
“Undertaken across villages and towns, such initiatives have ensured that beneficiaries remain connected to their savings and entitlements, laying a strong foundation for the success of the current campaign”, she said.
Sitharaman urged all institutions to carry forward the same dedication and outreach in this nationwide initiative on unclaimed financial assets, so that no citizen remains separated from their rightful money.
She also handed over certificates to beneficiaries who successfully reclaimed their unclaimed deposits from various institutions.
Secretary, DFS, M. Nagaraju, executive director of the Reserve Bank of India (RBI), whole-time members of IRDAI, SEBI, PFRDA, along with senior officials from the Government of India, the State Government, and representatives of leading financial institutions were also present in the event.
Nagaraju noted that as of August 2025, more than ₹75,000 crore of unclaimed deposits have been transferred to the RBI’s Depositor Education and Awareness Fund. Further, Nagaraju added that unclaimed insurance proceeds stand at over ₹13,800 crore, unclaimed balances in mutual funds amount to about ₹3,000 crore, and unpaid dividends worth more than ₹9,000 crore.
“Claims must be processed quickly, fairly and without unnecessary hurdles to citizens, so that they walk away with clarity and confidence”, he added.
Nearly 172 crore shares have been transferred to the IEPF so far. The launch builds on India’s broader achievements in financial inclusion — from Jan Dhan Yojana and UPI to Direct Benefit Transfers - by ensuring that citizens not only gain access to financial services but also reclaim what rightfully belongs to them.
