Union Finance Minister Nirmala Sitharaman on October 4, 2025 announced that financial assets worth ₹1.84 lakh crore are lying unclaimed with banks and financial regulators across India. She launched a three-month campaign built on three pillars — Awareness, Access, and Action — to ensure these assets reach rightful owners. The unclaimed amounts include dormant bank accounts, unclaimed dividends, and insurance maturity proceeds. She urged banking officials and regulatory bodies to proactively reach out to nominees and legal heirs. The Investor Education and Protection Fund (IEPF) under the Ministry of Corporate Affairs serves as the central repository for some categories of unclaimed assets. The campaign aligns with India's broader financial inclusion and digital banking goals.
Finance Minister Highlights ₹1.84 Lakh Crore in Unclaimed Financial Assets
Finance Minister Nirmala Sitharaman announced on October 4, 2025 that ₹1.84 lakh crore in financial assets remain unclaimed with banks and regulators, launching a three-month Awareness-Access-Action campaign to return them to rightful owners.
Key facts
- Finance Minister announced ₹1.84 lakh crore in financial assets remain unclaimed in India.
- Unclaimed assets lie with banks, insurance companies, and financial regulators.
- A three-month Awareness-Access-Action campaign was launched on October 4, 2025.
- The campaign aims to return unclaimed deposits, shares, and insurance proceeds to rightful owners.
- RBI's UDGAM portal helps citizens trace their unclaimed bank deposits online.
- Unclaimed financial assets pose regulatory and consumer protection challenges in the financial system.
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Which fund under the Ministry of Corporate Affairs serves as the central repository for some categories of unclaimed assets?
The Investor Education and Protection Fund Authority administers the Investor Education and Protection Fund under the Companies Act framework. The fund deals with refunds of shares, unclaimed dividends, matured deposits, matured debentures and similar investor amounts transferred to it, making IEPF the correct answer.
Source: UPSC Current Affairs
Frequently asked questions
How much in unclaimed financial assets was highlighted by Finance Minister Nirmala Sitharaman?
Finance Minister Nirmala Sitharaman announced on October 4, 2025 that ₹1.84 lakh crore in financial assets remain unclaimed with banks, insurance companies, and financial regulators across India.
What campaign was launched to address unclaimed financial assets in India?
A three-month Awareness-Access-Action campaign was launched on October 4, 2025 to help return unclaimed deposits, shares, and insurance proceeds to their rightful owners.
What is the UDGAM portal and who operates it?
UDGAM (Unclaimed Deposits - Gateway to Access inforMation) is a portal operated by the Reserve Bank of India (RBI) that helps citizens trace and claim their unclaimed bank deposits online.
Where do unclaimed financial assets lie in India's financial system?
Unclaimed financial assets in India lie with banks (as unclaimed deposits), insurance companies (as unclaimed policy proceeds), and various financial regulators, totalling ₹1.84 lakh crore.
What regulatory challenges do unclaimed financial assets pose?
Unclaimed financial assets pose significant regulatory and consumer protection challenges, as they represent funds that rightful owners are unaware of or unable to access, requiring coordinated action from regulators like RBI, SEBI, and IRDAI.
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