PM MODI INITIATES 'YOUR MONEY, YOUR RIGHT' CAMPAIGN: RECLAIM RS 1 LAKH CRORE IN FORGOTTEN ASSETS – HERE'S HOW
Prime Minister Narendra Modi is turning the spotlight on a silent financial crisis: Over Rs 1 lakh crore in unclaimed assets – hard-earned savings, insurance payouts, and investment returns – lying dormant in India's banks, insurers, and mutual funds.
In a LinkedIn post on December 10, Modi urged citizens to join the "Your Money, Your Right" movement, launched by the government on October 4, 2025, to empower people to reclaim what's theirs.
"These assets represent the hard-earned savings of countless families," he wrote, calling it a "chance to convert a forgotten financial asset into a new opportunity."
The scale is staggering: Indian banks hold Rs 78,000 crore in unclaimed deposits; insurers Rs 14,000 crore in policy proceeds; mutual funds Rs 3,000 crore; and unpaid dividends Rs 9,000 crore – totaling over Rs 1 lakh crore frozen in bureaucratic limbo.
Launched amid the government's push for financial inclusion, the initiative has already returned nearly Rs 2,000 crore to rightful owners in just two months – a 10x jump from FY25's Rs 200 crore – through coordinated efforts across RBI, IRDAI, SEBI, and MCA.
Modi emphasized: "Act now to claim what is yours... Together, let us build a transparent, financially empowered and inclusive India."
The Hidden Fortune: What's Lying Unclaimed and Why?
Unclaimed assets often stem from forgotten accounts, lapsed policies, or unclaimed dividends – a problem affecting 1–2% of Indians annually, per RBI estimates.
The "Your Money, Your Right" drive simplifies reclamation via four dedicated portals, making the process digital, free, and fraud-proof.
Unclaimed Assets (Table Converted to List)
- Bank Deposits: Rs 78,000 crore — Claim via RBI's UDGAM
- Insurance Proceeds: Rs 14,000 crore — Claim via IRDAI's Bima Bharosa
- Mutual Fund Units: Rs 3,000 crore — Claim via SEBI's MITRA
- Unpaid Dividends/Shares: Rs 9,000 crore — Claim via MCA's IEPFA
How It Works: Log in with PAN/Aadhaar, search by name/account, submit KYC – claims approved in 7–30 days. No fees; 100% digital.
Facilitation camps in 477 districts (rural focus) have handled 5 lakh+ queries since October, returning Rs 2,000 crore – up 10x from FY25's Rs 200 crore.
Why This Matters – And How to Join the Movement
Unclaimed assets aren't "lost" – they're frozen due to forgotten accounts (e.g., dormant FDs), lapsed policies, or unclaimed dividends from old shares.
The drive, part of the government's Viksit Bharat 2047 vision, aims for 90% reclamation by 2027 – turning Rs 1 lakh crore into economic rocket fuel for families and MSMEs.
Quick Steps to Reclaim Yours
- Search Portals: Use PAN/Aadhaar on UDGAM (banks), Bima Bharosa (insurance), MITRA (MFs), IEPFA (dividends/shares).
- Submit Claim: Upload KYC – processed in 7–30 days.
- Visit Camps: Find your district's next event via mygov.in or local bank branch.
- Check Family: Scan old docs/accounts – even Rs 1,000 forgotten FD compounds to Rs 10,000+ over decades.
"Act now," Modi implored. "Your money is yours. Let us make sure it finds its way back to you."
With Rs 2,000 crore already unlocked, the movement is gaining steam – but Rs 1 lakh crore awaits. Your forgotten fortune could be tomorrow's opportunity. Check today.
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2025-12-11T08:16:24Z