New Delhi, Dec 11 – The sweeping effort to bring dormant consumer assets back into people’s hands is winding down in just a few weeks. Launched on Oct 4, the three‑month national drive “Your Money, Your Right” has already helped thousands recover unclaimed funds that turn into lasting financial empowerment.
Prime Minister Narendra Modi has called on citizens to support a transparent, inclusive, and financially empowered India. In a recent social‑media post, he highlighted that banks sit on Rs 78,000 crore of unclaimed money, insurers hold about Rs 14,000 crore, mutual funds about Rs 3,000 crore, and dividends worth Rs 9,000 crore still lie dormant. He added, “These facts have startled a lot of people.” The campaign aims to recover assets exceeding Rs 1 lakh crore.
It relies on a “3A model” – awareness, accessibility, and action – using district camps and regulator platforms to return dormant bank deposits, insurance proceeds, dividends, mutual funds, and pensions to rightful owners. Up to Dec 5, 477 district camps have already been held, involving public representatives, district administrators, and financial institution officials. Standard operating procedures, FAQs, regional‑language materials, and short video messages were widely shared to maximize outreach.
In the camps, on‑site digital demonstrations, helpdesks, and guided support simplify the claims process. The initiative brings together key regulators – the RBI, SEBI, IRDAI, PFRDA, and IEPFA – and leverages existing platforms such as RBI’s UDGAM, IRDAI’s Bima Bharosa, and SEBI’s MITRA to help citizens track their unclaimed assets.
Already, in the first two months, roughly Rs 2,000 crore has been reclaimed by rightful owners, giving families immediate boosts to liquidity and overall welfare. A centralised tracing and verification system reduces the risk of misappropriation and gives claimants a formal recourse. Camps and assisted digital searches also help digitally marginalised citizens access their entitlements and link recovered assets to active accounts or new financial products. Harmonised SOPs and inter‑regulatory coordination shorten claim timelines and reduce procedural friction.
“Afterall, these assets represent the hard‑earned savings and investments of countless families,” the PM added. The campaign’s core goal, he stressed, is to ensure that every citizen can recover what is rightfully theirs. jb/khz
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