New Delhi, March 25: The government is ramping up efforts to return over ₹73,000 crore in unclaimed funds held by banks, insurance companies, and mutual funds to citizens. In a statement to Parliament, it was revealed that the regulator has simplified the claims process, launched digital tracking platforms, and initiated awareness campaigns nationwide.
Finance Minister Pankaj Chaudhary informed the Rajya Sabha that unclaimed deposits in government banks have exceeded ₹60,500 crore, and continuous efforts are being made to return this money to the public.
By the end of January 2026, government banks had transferred ₹60,518 crore to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund.
Additionally, data from the Insurance Regulatory and Development Authority of India (IRDAI) and the Securities and Exchange Board of India (SEBI) indicates that insurance companies hold ₹8,973.89 crore and mutual funds have ₹3,749.34 crore in unclaimed amounts.
The RBI has issued new rules for settling accounts of deceased customers and launched an incentive scheme in October 2025. This scheme offers an incentive of 5 to 7.5 percent on successfully settled claims of unclaimed amounts, subject to a certain limit.
Banks have been instructed to conduct regular campaigns, publish lists of unclaimed accounts, and raise public awareness.
Similarly, SEBI has eased regulations for mutual funds, requiring less documentation for claims up to ₹5 lakh, which will be processed quickly through a digital system.
The government also ran a nationwide campaign titled “Your Capital, Your Right” between October and December 2025.
The minister reported that by February 2026, approximately ₹5,777 crore related to about 2.3 million claims had been returned to the public.
To assist citizens, regulators have launched special digital platforms like “Insurance Trust” and “Mitra,” where individuals can find information about their unclaimed funds.
Furthermore, the RBI has proposed new rules regarding customer responsibility in cases of digital banking fraud and is seeking public feedback on these proposals.
To combat fraud, the RBI has implemented an AI-based system called “MuleHunter.AI” across 26 banks. Additionally, the Indian Digital Payment Intelligence Corporation has been established to detect fraud in real-time.
The minister also mentioned ongoing awareness campaigns like “RBI Says” and “SEBI vs Scam” to help individuals secure their funds and file claims promptly.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment