The government is building a single unified digital portal to help citizens trace and recover unclaimed financial assets spread across banks, insurers, mutual funds and other regulated institutions, Department of Financial Services (DFS) Secretary M. Nagaraju said on Wednesday. The platform, which will be coordinated by the Reserve Bank of India (RBI), aims to consolidate scattered databases maintained by different regulators into one searchable interface.
The announcement comes as the Centre’s nationwide campaign on unclaimed assets — launched in October and running until end-December — ramps up its outreach. Nagaraju said camps are being organised across districts in India, as part of the drive to help individuals verify details and reclaim their dormant accounts and investments.
Unified Portal
Explaining the rationale behind the new system, Nagaraju said the government is working toward a national portal that integrates information from all financial-sector regulators, making it substantially easier for citizens to locate their unclaimed funds.
“We are developing a unified portal for the entire country that brings together data across regulators,” he said, adding that the RBI will oversee the coordinated effort. According to him, the current fragmentation — where customers must visit different platforms depending on whether the asset falls under banking, insurance or securities — often deters people from initiating claims.
Nagaraju also highlighted that the ongoing nationwide campaign is aimed at building awareness and enabling on-ground support. “We launched the campaign in October for unclaimed assets, and it will continue until the end of December,” he said.
Rs 1,887 crore returned
Providing an update on recoveries, Nagaraju said the outreach and facilitation efforts have already enabled the return of Rs 1,887 crore to rightful owners or their nominees. He stressed that the government intends to accelerate the pace of settlements as more camps are organised and digital access improves.
Under existing regulatory rules, financial institutions must act quickly once claimants provide valid documentation. “As per RBI guidelines, unclaimed assets of Rs 15 lakh or more must be returned within 15 days after submission of documents,” Nagaraju noted.
Customer Pain Points
The proposed unified portal is expected to significantly reduce customer friction, especially for families navigating legacy accounts or individuals trying to trace forgotten investments. Currently, citizens rely on separate mechanisms such as the RBI’s UDGAM portal, the Ministry of Corporate Affairs’ Investor Education and Protection Fund (IEPF), Employees’ Provident Fund Organisation (EPFO) systems, insurer-specific links and mutual fund repositories.
By merging all these into a single national platform, the government aims to streamline verification, improve turnaround time for claims, and provide a clear, centralised gateway for users who otherwise struggle to match old records with multiple institutional databases. The consolidated portal is expected to enhance transparency and reduce duplication, while also helping regulators track dormant accounts more effectively.
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