Union Finance Minister Nirmala Sitharaman along with other dignitaries during the launch of the Nationwide Awareness Campaign of Unclaimed Financial Assets, in Gandhinagar on Saturday (October 4, 2025).
| Photo Credit: ANI
Union Finance Minister Nirmala Sitharaman on Saturday (October 4, 2025) said financial assets worth ₹1.84 lakh crore were lying unclaimed with banks and regulators, and officials need to ensure these reach the rightful owners.
Ms. Sitharaman launched the three-month Apki Poonji, Apka Adhikar (Your Money, Your Right) campaign from Gandhinagar in the presence of Gujarat Finance Minister Kanubhai Desai and senior officials from the banks and the Finance Ministry.
Speaking on the occasion, the Union Minister for Finance and Corporate Affairs said that financial assets worth ₹1.84 lakh crore were lying unclaimed with banks and regulators in the form of bank deposits, insurance, provident fund or shares.
She urged officials to work on three As — Awareness, Access and Action — to ensure these unclaimed assets reach rightful owners during the three-month-long campaign.
“Unclaimed monies are lying with the banks or with the RBI or with the IEPF [Investor Education and Protection Fund]. We have to find the rightful owners and claimants of those funds and hand the money over to them,” Mr. Sitharaman said.
“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. It can be through the bank or through SEBI. It can be through any other agency. But it is lying there in safe custody,” she assured.
If the asset remains unclaimed for a long time due to any reason, it gets transferred from one entity to another, the Minister said.
From banks, it 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”, she said.
“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. 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,” Ms. Sitharaman said.
On the ‘awareness’ front, the minister urged government and bank officials to create awareness among people so that they come forward and claim their rightful assets, such as insurance policies lying unclaimed despite maturity.
“The first A is awareness. Build awareness. Tell them that your money is lying there, come with this document and take it. You can become ambassadors and tell people if they have yet to claim their rightful asset. Just ask them to find the papers and register on the portal,” she said.
The minister further spoke about extending “access” to those rightful claimants, either through RBI’s UDGAM portal or stalls created by banks for this purpose.
“The third A is action, where you [officials] act on whatever you have, like small bits of papers,” she said, adding that a “concerted attempt” will make the campaign successful.
Ms. Sitharaman said that it was Prime Minister Narendra Modi who persuaded her and the ministry to “move from one place to another and call up people asking them to claim their dues. So, bridge the gap and make sure people can take it.”
Ms. Sitharaman also lauded the Gujarat Gramin Bank for assuring her that its officials would visit every village in the state to look for rightful owners of unclaimed deposits lying in the bank.
Published – October 05, 2025 07:03 am IST
