India, March 24 -- The Government of India has issued a release:
The Financial Sector Regulators namely, Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and Securities and Exchange Board of India (SEBI) have informed that as on 28.02.2026, the unclaimed amount transferred by Public Sector Banks (PSBs) to the Depositor Education and Awareness (DEA) Fund of RBI is Rs. 60,518 crore (as on 31.1.2026). Further, the unclaimed insurance amount outstanding with the insurers is Rs. 8,973.89 crore(as on 28.2.2026). Also, the value of unclaimed amounts in mutual funds under SEBI regulations is Rs. 3,749.34 crore(as on 28.2.2026).
In order to ensure timely identification of rightful claimants, reducing both the existing stock of unclaimed financial assets as well as the fresh accretion to it and to simplify and expedite the claim process for citizens, various measures have been undertaken by the Financial Sector Regulators, including, inter alia, the following:
Further, with the objective of enabling citizens to trace and claim their unclaimed financial assets in a simplified manner, the Department of Financial Services organised a nationwide campaign titled "आपकी पँजूी, आपका अधिकार- Your Money, Your Right" during October- December 2025 in coordination with RBI, SEBI, IRDAI. Special camps were organised in 748 districts, and as on 28.2.2026, unclaimed financial assets amounting to Rs.5,777 crore relating to 22.95 lakh claims have been restituted to their rightful owners.
In terms of the DEA Fund Scheme, 2014, banks are mandated to transfer the credit balance in accounts which have not been operated upon for a period of 10 years or more, to DEA Fund. Further, the total amount of unclaimed deposits due to depositors which have been transferred to DEA Fund, form part of Contingent Liability (as off- balance sheet item) of the respective banks.
RBI has developed the Centralised Web Portal UDGAM (Unclaimed Deposits - Gateway to Access InforMation), which facilitates the registered users to search unclaimed deposits/ accounts across multiple banks at one place. RBI has informed that as on 1.3.2026 there are 18.86 lakh registered users on the UDGAM Portal.
IRDAI's Bima Bharosa portal and SEBI's MITRA platform have been developed for tracing unclaimed insurance proceeds and mutual fund amounts, respectively. Further, RBI has constituted an Inter-Regulatory Working Group to develop a single integrated web portal enabling citizens to search and claim their unclaimed financial assets.
This information was given by the Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in Rajya Sabha today.
Disclaimer: Curated by HT Syndication.
