Govt To Launch Unified Portal For Unclaimed Financial Assets
Department of Financial Services said it is working with the Reserve Bank of India to launch a single, unified portal covering all regulators.
The Finance Ministry is moving towards a major overhaul in how citizens track and claim unclaimed financial assets, with the Department of Financial Services (DFS) saying it is working with the Reserve Bank of India to launch a single, unified portal covering all regulators.
At a Punjab National Bank event on Thursday. DFS Secretary M Nagaraju said the platform will bring every category of unclaimed asset — across banks, insurance, mutual funds and other financial institutions — onto one window, making it easier for individuals and families to recover dues.
So far, Rs 1,887 crore has already been returned to citizens under the Centre’s ongoing outreach programme, while the depositor education and awareness fund still holds a balance of Rs 3,201 crore. Once the integrated portal goes live, the government expects the claims process to become significantly faster and more transparent.
