Financial regulators including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and Insurance Regulatory and Development Authority of India (IRDAI) have intensified efforts to return unclaimed financial assets to rightful owners. According to official data, ₹5,777 crore has been returned through 22.95 lakh claims under a special nationwide campaign. However, a substantial amount still remains unclaimed across the financial system.
The initiative, conducted under the “Your Money, Your Right” campaign between October and December 2025, covered 748 districts across the country. It involved coordinated outreach efforts by banks, insurance companies, and mutual fund institutions to identify rightful claimants and expedite the settlement process.
Despite these efforts, the scale of the issue remains significant. Public sector banks alone have transferred ₹60,518 crore of unclaimed deposits to the RBI’s Depositor Education and Awareness (DEA) Fund. In addition, unclaimed funds worth ₹8,973.89 crore are lying with insurance companies, while ₹3,749.34 crore remains unclaimed in mutual funds
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Experts point out that such funds often remain unclaimed due to reasons like the death of account holders, outdated contact details, or the absence of nominee information. In many cases, family members are unaware of the financial assets or investments, making the claim process more complicated and time-consuming.
To address these challenges, regulators have focused on simplifying procedures and expanding digital access. The RBI has issued revised guidelines directing banks to ensure time-bound settlement of claims and proactive outreach to depositors. It has also introduced an incentive scheme offering 5% to 7.5% rewards for successful identification and return of unclaimed deposits.
In the insurance sector, IRDAI has mandated insurers to collect nominee details at the time of policy issuance and maintain regular communication with policyholders. Meanwhile, SEBI has simplified transmission norms for mutual fund investments, reducing documentation requirements for claims up to ₹5 lakh and promoting faster digital processing.
Digital platforms have emerged as a key component of this initiative. The RBI’s UDGAM portal, IRDAI’s “Bima Bharosa,” and SEBI’s MITRA platform enable users to track and claim their unclaimed assets efficiently. Work is also underway to develop a unified portal that will allow individuals to access information about all types of unclaimed financial assets in one place.
According to the Finance Ministry, the initiative is not just about returning money but also about enhancing transparency and trust in the financial system. Officials have indicated that such campaigns will be further intensified in the coming years to ensure that more citizens can reclaim what is rightfully theirs.
Experts also advise individuals to regularly monitor their bank accounts, insurance policies, and investments, keep nominee details updated, and make active use of digital platforms. These steps can significantly reduce the chances of funds becoming unclaimed in the future and help families avoid complications.
For now, the joint push by RBI, SEBI, and IRDAI signals a strong commitment by regulators to address the issue systematically. However, without sustained awareness and continuous process improvements, the challenge of unclaimed financial assets is likely to persist.
