Sitharaman hails regional rural banks for strengthening link between citizens, formal financial system

Finance Minister Nirmala Sitharaman rolled out a new nationwide financial‑awareness push in Gandhinagar, Gujarat, on Saturday, praising regional rural banks — especially Gujarat Gramin Bank — for their strong work in recent KYC and re‑KYC drives. She said the campaign trims the gap between citizens and the formal banking system and helps people claim the money they have saved for years.

“Across villages and towns, these efforts keep families linked to their savings and entitlements,” the minister told reporters. “The core idea is simple: every rupee saved should come back to the people and their families.” She highlighted that unclaimed deposits, insurance payouts, dividends, mutual‑fund balances and pensions are real funds that can support education, health and everyday security.

Sitharaman introduced the campaign’s “3 A’s” – Awareness, Accessibility, Action. Awareness means every citizen learns how to trace missing money. Accessibility gives easy digital tools and local help. Action pushes for quick, clear settlements. The minister urged banks, cooperative societies and other institutions to keep the same energy and outreach, so no one stays separated from rightful money.

She handed certificates to residents who had successfully reclaimed unclaimed deposits from banks and other financial entities.

State Finance Minister Kanubhai Desai said launching the national campaign from Gujarat was a source of pride for the state. He pledged full support, noting that unclaimed money can drive education and empowerment for families.

DFS Secretary M. Nagaraju reported that, by August, more than ₹75,000 crore of unclaimed deposits had moved to the RBI’s Depositor Education and Awareness Fund. He also said unclaimed insurance proceeds topped ₹13,800 crore, mutual‑fund balances about ₹3,000 crore, and unpaid dividends exceeded ₹9,000 crore.

The campaign is part of India’s push to bring hidden savings into the formal economy, ensuring ordinary families get the money they deserve.


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