Imagine discovering that money belonging to you or your family is lying unclaimed in banks, insurance policies, or investments. It may sound surprising, but this is the reality in India today.
According to government data, around ₹1.84 lakh crore of unclaimed money is currently lying with financial institutions across the country. Many people are unaware that they have old deposits, forgotten investments, insurance policies, or dividends waiting to be claimed.
To address this issue, India’s Finance Minister Nirmala Sitharaman launched a citizen-focused initiative called “Your Money, Your Right.” The campaign aims to help people easily locate and claim their rightful money through digital portals.
This initiative is a major step toward financial awareness and transparency, helping millions of Indians recover funds that belong to them.
Where Is This Unclaimed Money Lying?
| Category | Estimated Unclaimed Amount |
|---|---|
| Bank Deposits | ₹78,000 crore |
| Insurance Policies | ₹14,000 crore |
| Mutual Funds | ₹3,000 crore |
| Dividends & Shares | ₹9,000 crore |
| Other Financial Assets | Remaining amount |
These funds remain unclaimed for several reasons:
- People forget old bank accounts
- Insurance policies not tracked by families
- Unclaimed dividends from shares
- Investors changing addresses or contact details
- Lack of awareness about financial assets
Sometimes, the actual owners may not even realize that money exists in their name.
How to Check If You Have Unclaimed Money
The government and regulators have created simple online portals where you can search using basic details like your name, PAN, policy number, or bank details.
Below are the official platforms.
1. Check Unclaimed Bank Deposits
Reserve Bank of India created the UDGAM portal to help citizens locate unclaimed bank deposits across multiple banks.
Where to Check
UDGAM Portal (by RBI)
What You Need
- Name
- Bank details or account number (if available)
- Identification details
Why Money Becomes Unclaimed
- Inactive bank accounts for 10+ years
- Forgotten fixed deposits
- Closed banks merged with others
Many families discover old savings accounts or fixed deposits belonging to parents or grandparents.
2. Check Unclaimed Insurance Money
Insurance funds can remain unclaimed if policyholders or their families do not file claims after maturity or death benefits.
The regulator Insurance Regulatory and Development Authority of India launched the Bima Bharosa Portal.
Where to Check
Bima Bharosa Portal
What You Need
- Policy number
- Name
- Date of birth
This portal helps beneficiaries track matured policies or unpaid claims.
3. Check Unclaimed Mutual Fund Investments
Sometimes investors forget small investments made years ago through agents or SIP plans.
The regulator **Securities and Exchange Board of India provides the MITRA Portal to search for unclaimed mutual fund investments.
Where to Check
SEBI MITRA Portal
Useful For
- Old SIP investments
- Forgotten mutual fund folios
- Investments made through distributors
Even small investments made years ago could have grown significantly today.
4. Check Unclaimed Dividends & Shares
Dividends from shares may remain unpaid if investors change addresses, lose share certificates, or forget old investments.
To solve this, the government created the **Investor Education and Protection Fund Authority portal.
Where to Check
IEPFA Portal
What You Can Find
- Unclaimed dividends
- Old shares transferred to IEPF
- Matured deposits from companies
Many investors discover shares purchased decades ago that are now worth much more.
Why This Matters for Common People
This initiative is especially helpful for:
- Families tracking parents’ financial assets
- People who moved cities or changed contact details
- Investors who forgot small investments
- Legal heirs unaware of policies or deposits
Even small forgotten investments can grow into significant amounts over time.
For example:
- A ₹10,000 mutual fund investment made 20 years ago could become ₹80,000 or more today depending on returns.
The Power of “Your Money, Your Right”
The campaign launched by Nirmala Sitharaman is not just about returning money.
It is about:
✔ Financial transparency
✔ Protecting citizens’ wealth
✔ Encouraging people to track their investments
✔ Strengthening trust in the financial system
This initiative empowers people to reconnect with their forgotten wealth.
Simple Tips to Avoid Losing Track of Your Money
✔ Maintain a list of all investments
✔ Share financial information with family members
✔ Update contact details with banks and insurers
✔ Track investments annually
✔ Keep digital records of financial assets
These small steps can prevent your money from becoming “unclaimed” in the future.
Nk’s opinion
₹1.84 lakh crore is not just a number — it represents millions of forgotten investments belonging to ordinary citizens.
Your old bank account, insurance policy, dividend, or mutual fund investment could be part of it.
Take a few minutes to check the portals — you might rediscover money that already belongs to you.
Because in the end, it’s simple: Your Money, Your Right.