Union Finance Minister launches campaign to reclaim Rs 1.84 lakh crore in unclaimed assets

Union Finance Minister Nirmala Sitharaman on Saturday launched a three-month nationwide campaign aimed at returning unclaimed financial assets worth Rs 1.84 lakh crore to their rightful owners. The campaign, titled “Apki Poonji, Apka Adhikar” (Your Money, Your Right), was inaugurated in Gandhinagar with a call to action focused on Awareness, Access, and Action.

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Speaking at the event, Sitharaman emphasized that unclaimed funds are currently stored in various financial institutions, including banks, the Reserve Bank of India (RBI), and the Investor Education and Protection Fund (IEPF). She reassured citizens that these funds are secure and urged individuals to come forward with proper documentation to reclaim their money.

Improve the financial security of families

The Finance Minister explained that the campaign would address key aspects: raising awareness about the process, enhancing accessibility through digital tools and local outreach, and ensuring efficient, transparent claim settlements. The initiative also highlights the importance of reclaiming unclaimed deposits, insurance proceeds, mutual fund balances, and pensions—funds that can significantly improve the financial security of families.

Sitharaman also discussed the transfer mechanisms for unclaimed funds, which are moved between institutions such as from banks to the RBI and from SEBI to the IEPF. She praised Gujarat’s Gramin Bank for its commitment to personally visiting villages to help trace rightful claimants.