India's New Portal Lets You Search for Unclaimed Assets in One Place

The Finance Ministry on Friday launched a unified online platform that lets individuals search for and track unclaimed financial assets – including bank deposits, insurance claims, shares, and mutual funds – from a single access point.

The portal, developed in collaboration with PSB Alliance, consolidates search facilities that were previously scattered across different financial sector databases. The initiative builds on the nationwide campaign 'Your Money, Your Right', which the Department of Financial Services has been running with regulators, banks, and other stakeholders to trace and return unclaimed funds.

What the Portal Does

The platform provides a single search interface for unclaimed assets across the financial ecosystem. Users can check for dormant bank deposits, unpaid insurance claims, unclaimed dividends, and mutual fund holdings that have been sitting untouched.

Department of Financial Services Secretary M Nagaraju launched the portal during a review meeting of public sector banks. He said the platform will improve citizen convenience by bringing together multiple search facilities and strengthen ongoing efforts to reconnect individuals with their rightful assets.

How It Works

The portal does not hold the assets itself. Instead, it acts as a gateway, directing users to the relevant institution where the asset is held. Once a user identifies an unclaimed asset through the search, they can follow the restitution process with the specific bank, insurer, or fund house.

The Scale of Unclaimed Assets in India

India's financial system holds significant amounts of unclaimed money. Bank deposits alone account for a large portion, with funds sitting in dormant accounts for years. Insurance claims where nominees were not informed, unpaid dividends from companies, and mutual fund units with no active contact details all contribute to the pool.

The government's push to reunite citizens with these assets is part of a broader financial inclusion agenda under the Viksit Bharat 2047 vision. The ministry statement said the initiative is expected to enhance public awareness, improve ease of access to information, and contribute to greater financial empowerment and trust in the system.

Who Should Use the Portal

Anyone who has ever held a bank account, bought insurance, invested in shares or mutual funds, or received dividends should check the portal. The search is particularly relevant for:

• Individuals who have changed addresses or contact numbers without updating their financial institutions
• Families of deceased account holders who may not know about existing assets
• People who held shares or mutual funds in physical form before dematerialisation
• Those who had fixed deposits or recurring deposits that matured years ago

What You Need to Search

The portal requires basic identifying information to run a search. Users typically need to provide their name, date of birth, and in some cases, their Permanent Account Number (PAN) or Aadhaar number. The exact fields depend on the asset type being searched.

The Restitution Process