The Reserve Bank of India (RBI) is preparing to roll out an integrated portal aimed at simplifying the claim process for dormant financial assets across the country. The move is expected to make it easier for citizens to track and reclaim bank deposits, pensions, dividends, shares, mutual funds, and insurance proceeds that often remain unclaimed. This was announced by N. Nagaraju, Secretary of Financial Services, during a PNB investor awareness programme on Thursday.
Nagaraju explained that the new portal will consolidate data from all regulators under RBI’s supervision. Currently, multiple portals exist for different asset categories—RBI’s ‘Udgam’, SEBI’s ‘Mitra’, and IRDAI’s ‘Bima Bharosa’. He said an integrated platform would enable citizens to locate their dormant funds and make claims in a streamlined, transparent, and reliable manner.
What qualifies as dormant assets?
Dormant assets include bank deposits, insurance policy claims, dividends, shares, and mutual funds that often go unclaimed due to lack of awareness or outdated account details. Nagaraju noted that a significant portion of assets remain idle in accounts for this reason. The government’s objective is to ensure that every citizen has easy access to financial services and can rightfully claim their savings.
“We aim to provide every citizen with clear information about their assets so they can benefit fully from their funds,” Nagaraju added. “Digital platforms and awareness campaigns play a critical role in achieving this goal.”
Funds returned to rightful owners
Finance Minister Nirmala Sitharaman had launched the three-month national awareness campaign ‘Your Capital, Your Right’ on October 4. The initiative is coordinated by the Ministry of Finance, RBI, IRDAI, SEBI, and the Investor Education and Protection Fund Authority (IEPFA).
According to Nagaraju, the campaign and associated awareness camps have so far helped return ₹1,887 crore to the actual owners or nominees. He expressed confidence that with expanded digital reach and more camps, the pace of claim settlements would accelerate further.
During the campaign, citizens are provided step-by-step guidance and digital demonstrations, helping them claim their dormant funds without hurdles.
Nagaraju also highlighted that the integrated portal would not only make the claim process simpler but also enhance investor confidence and improve financial transparency across the country.
