Lost track of old deposits or shares? Unified Govt-RBI portal coming soon; Citizens can easily trace idle savings – The Times of India

The Finance Ministry is working with the Reserve Bank of India to develop a unified portal through which citizens can search and claim unclaimed assets across bank deposits, pension funds, shares, dividends and other financial instruments, Department of Financial Services (DFS) Secretary M. Nagaraju said on Thursday.Speaking at a mega camp of the Punjab National Bank under the ‘Aapki Poonji Aapka Adhikar’ initiative, he said the platform is expected to be launched soon, PTI reported.“The Ministry of Financial Services is working with the Reserve Bank of India (RBI) to develop a unified, integrated portal… for all regulators and that should be coordinated by the RBI,” Nagaraju said. Separate portals already exist, including RBI’s UDGAM, Sebi’s MITRA and Irdai’s Bima Bharosa, but the integrated system will make it easier for citizens to locate unclaimed funds with greater ease and transparency.Nagaraju said low awareness has left large sums of unclaimed assets lying unused in the accounts. With a continued focus on financial inclusion and education, the government is working to help citizens recover their dues. Finance Minister Nirmala Sitharaman had on October 4 launched a three-month nationwide awareness campaign titled ‘Aapki Poonji, Aapka Adhikar’ to streamline recovery in the financial sector.The DFS secretary said outreach efforts so far have enabled the return of Rs 1,887 crore to the rightful owners or their nominees, adding that more settlements are expected as digital access expands and more facilitation camps are organised.Unclaimed assets – including bank deposits, insurance proceeds, dividends, shares and mutual fund redemptions – often remain uncertain due to outdated data or lack of awareness. The campaign will provide citizens with on-the-ground assistance in locating their unclaimed assets, updating KYC details and completing claim procedures, with digital demonstrations offered in the camps.