PM Modi urges Indians to turn unclaimed assets into opportunities

New Delhi (The Uttam Hindu) : Prime Minister Narendra Modi on Wednesday said that the aim of the 'Your Money, Your Rights' initiative is to ensure that every citizen gets back his/her rightful money as thousands of crores of rupees are lying unclaimed in Indian banks, insurance and mutual fund companies.

"This is a chance to turn a forgotten financial asset into a new opportunity," Prime Minister Modi said in a post on the social media platform LinkedIn. "Come together, let us build a transparent, economically empowered, and inclusive India." During his speech at the recent Hindustan Times Leadership Summit here, the Prime Minister highlighted some facts.

He said, "Indian banks have ₹78,000 crore of unclaimed funds belonging to our own citizens. Insurance companies have approximately ₹14,000 crore of unclaimed funds. Mutual fund companies have approximately ₹3,000 crore of unclaimed funds, and ₹9,000 crore of unclaimed dividends."

In his post, PM Modi said that these facts have shocked many people. He explained, “After all, these assets are the hard-earned savings and investments of countless families. To correct this, the 'Your Money, Your Rights' initiative was launched in October 2025. Its aim is to ensure that every citizen can get back what rightfully belongs to them.”

To make the process of tracking and claiming funds easy and transparent, dedicated portals have been created. The Reserve Bank of India (RBI) has the UDGAM portal for unclaimed bank deposits and balances; the Insurance Regulatory and Development Authority of India (IRDAI) has the Bima Bharosa portal for unclaimed insurance policy money; the Securities and Exchange Board of India (SEBI) has the MITRA portal for unclaimed funds in mutual funds; and the Ministry of Corporate Affairs offers the IEPFA portal for unpaid dividends and unclaimed shares.

PM Modi said, "I am happy to inform that by December 2025, facilitation camps have been organized in 477 districts across rural and urban India. Emphasis has been placed on covering remote areas. Through the combined efforts of all stakeholders, especially the government, regulatory bodies, banks and other financial institutions, approximately ₹2,000 crore has already been returned to the rightful owners."

The Prime Minister further stated that this campaign will be expanded in the coming days. He said, “To do this, I request your help with the following: Check if you or your family have unclaimed deposits, insurance money, dividends, or investments, visit the portals I mentioned, and use the facilitation camps in your district.”