Introduction
Friends, What do you do, if there is money in a bank account, fixed deposit, insurance policy, mutual fund, or dividend account registered in your name—and you don’t even know it?
Will you leave it ideally if you know that?
It may sounds surprising, but thousands of crores of rupees remain unclaimed across India because people forget their old bank accounts, lose insurance documents, changed their mobile numbers, relocated to another city, or simply stop tracking their investments.
Are you one of them?
To address this growing issue, the Government of India has launched the “Your Money, Your Right” initiative, making it quite easier for the indian citizens to trace and recover their forgotten financial assets.
This initiative provided a single gateway. This gateway helps Indian individuals to locate their various types of unclaimed financial assets through different regulatory platforms.
What Is the “Your Money, Your Right” Portal?
Earlier, individuals had to search separately for:
- Unclaimed bank deposits
- Dormant savings accounts
- Forgotten fixed deposits
- Insurance policies
- Mutual fund investments
- Unclaimed shares
- Pending dividends
This process was often confusing and time-consuming.
The Unclaimed Assets Portal serves as a centralized gateway where users can access multiple regulator-backed platforms from one location.
Think of it as a financial search engine that helps you begin your search for forgotten money.
Visit here https://www.unclaimedassetsportal.in
Types of Unclaimed Assets
1. Forgotten Bank Accounts and Fixed Deposits
Do you know this?
One of the most common forms of unclaimed money comes from dormant bank accounts and matured fixed deposits.
Many people open bank accounts during:
- College days
- First jobs
- Business activities
- Temporary relocations
Over time, they usually change their cities, employers, mobile numbers, or email addresses and completely forget about those accounts.
This is quite common.
Similarly, during this time the opened fixed deposits (FDs) sometimes becomes matured as well, but the account holder never claims the proceeds, as he/she does not know it.
Example
Imagine Mr. Jagadeesh a Privtae employee working in Hyderabad, has opened a savings account with SBI in 2008. After changing jobs and moving elsewhere, he stopped using the previous account and forgot that it was existed.
Years later, the account may still contain funds that can be claimed.
RBI UDGAM Portal
The Reserve Bank of India (RBI) launched the UDGAM Portal to help individuals search for:
- Dormant savings accounts
- Inoperative bank accounts
- Unclaimed fixed deposits
- Unclaimed recurring deposits
Why It Matters
According to RBI data, thousands of crores of rupees remain unclaimed in banking institutions due to inactive accounts and forgotten deposits.
It’s time to check your’s.
2. Forgotten Insurance Policies
Did you ever taken any insurance policies?
Or else your Father or Mother during their jobs.
Do they remember it?
Insurance policies are another major source of unclaimed money.
Many families face situations where:
- Policy documents are misplaced
- Nominees are unaware of policy existence
- Policy details are forgotten over time
- Family members are unable to locate records after the policyholder’s death
This problem is especially common among senior citizens and older generations who purchased policies decades ago.
Example
Suppose Mr. Subba Rao aged 67, father of Mrs. Sailaja purchased a life insurance policy 20 years ago. Over time, documents were lost, and nobody in the family remembers the policy number and even her mother does not know it, as the families does not have of habit of sharing financials with their wives.
What will happen?
The family does not know, that the policy may still exist and be eligible for benefits.
How the Portal Helps
Through resources connected to the insurance regulator, individuals can:
- Search for old policies
- Verify policy details
- Identify insurer information
- Start the claim process
Pro Tip: Financial planners recommend maintaining a centralized record of all insurance policies and nominee details to prevent future claim difficulties.
3. Unclaimed Mutual Fund Investments
The 3rd Forgotten scope of asset is Mutual Fund Investments
Mutual funds have become increasingly popular in India over the last two decades. However, many investors:
- Start SIPs and later discontinue them
- Change email addresses
- Change mobile numbers
- Forget folio numbers
- Stop monitoring investments
As a result, investments continue to exist but remain untracked.
Example
19 Years old Manisha, a college student starts a ?500 monthly SIP in an equity mutual fund. After graduation and several job changes, she forgets about the investment entirely.
Ten years later, the value of that investment may have grown significantly. But how would she knows, if she completely lost after marriage and household chores.
SEBI MITRA Platform
The Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) helps investors locate:
- Forgotten mutual fund folios
- Inactive investments
- Unclaimed mutual fund holdings
Potential Impact
Even small SIP investments can accumulate substantial value over long periods due to compounding. If you have invested in Mutual Funds the potential outcome may be as follows.
| Monthly SIP | Investment Period | Potential Outcome* |
| ?500 | 10 Years | Significant growth possible |
| ?1,000 | 15 Years | Wealth accumulation through compounding |
| ?2,000 | 20 Years | Long-term portfolio value may be substantial |
*Actual returns depend on market performance.
4. Unclaimed Shares and Dividends
The last Forgotten scope of asset is Shares and Dividends.
Many investors purchased shares years ago and later lost track of them. Common reasons which might include as follows:
- Physical share certificates
- Inactive demat accounts
- Change of address
- Forgotten investments
- Unclaimed dividend payments
Over time, these assets may become difficult to track without proper records.
Example
Mr. Bhupati Raju, an investor purchased a MNC company shares in the early 2000s and stores physical certificates in a file. Years later, Mr. Raju died and the family may not even know these investments exist. Now it’s family turn to find the unclaimed shares and dividends.
You can see here that, the dividend payments may remain unclaimed for several years due to loss of his husband.
IEPFA Portal
The Investor Education and Protection Fund Authority (IEPFA) helps investors locate:
- Unclaimed dividends
- Unclaimed shares
- Investor-related assets transferred to IEPFA
Inheritance Opportunities
Many families discover forgotten investments that belonged to parents or grandparents, creating unexpected financial benefits.
Why Every Family Should Check for Unclaimed Assets
Most people spend significant time searching for new investment opportunities. It’s quite common. However, they often overlook money that already belongs to them.
Checking for unclaimed assets is important for:
Salaried Employees
People who have changed their jobs frequently may have forgotten accounts and investments.
Senior Citizens
Older individuals often hold multiple financial products accumulated over decades.
Retired Employees
Retirees may possess forgotten deposits, insurance policies, or dividend claims.
Mutual Fund Investors
Long-term investors may have inactive folios or overlooked investments.
Families Managing Inheritance
Heirs may discover forgotten financial assets belonging to deceased family members.
Step-by-Step Process to Search for Unclaimed Money
Step 1
Visit the Unclaimed Assets Portal.
https://www.unclaimedassetsportal.in
Step 2
Select the category of asset you wish to search.
Step 3
Choose the relevant regulatory platform.
Step 4
Enter details such as:
- PAN
- Name
- Mobile number
- Bank information
- Other identification details, as required
Step 5
Review the search results.
Step 6
Follow the claim process provided by the respective authority.
