
Search for unclaimed bank deposits, insurance claims, shares, and mutual funds through a single government portal. The Finance Ministry launched the platform with PSB Alliance to reunite citizens with forgotten assets.
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.
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.
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.
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.
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:
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.
Finding an unclaimed asset on the portal is only the first step. The actual claim process varies by institution and asset type.
If a bank deposit shows as unclaimed, the account holder or nominee must approach the bank branch where the account was held. Banks require identity proof, address proof, and in the case of deceased account holders, succession documents.
Unclaimed insurance proceeds typically arise from matured policies where the policyholder did not collect the sum, or from death claims where the nominee was unaware. Claimants need to contact the insurance company with the policy document and relevant proofs.
Unclaimed shares and dividends are held by companies or the Investor Education and Protection Fund (IEPF) . Claimants must file a claim with the company's registrar and transfer agent, or with the IEPF authority for amounts that have been transferred to the fund.
The portal addresses a persistent problem in personal finance: assets that get forgotten or lost when people move, change contact details, or fail to update their nominees. Financial advisors recommend that individuals maintain a consolidated record of all their financial holdings and review their portfolio at least once a year.
Practical rule: If you have not checked your old bank accounts, insurance policies, or demat holdings in the past three years, run a search on the portal. The search is free and takes only a few minutes.
The portal is a search tool, not a claim processing system. Users still need to go through the individual institution's claim process, which can be time-consuming. Some assets may not appear on the portal if the institution has not updated its records or if the data integration is incomplete.
The government has indicated that the portal will be expanded over time to include more asset types and institutions. For now, it covers the major categories of unclaimed financial assets held by banks, insurers, and capital market intermediaries.
The portal is live and accessible through the Finance Ministry's website. Users should bookmark the page and run a search with their basic details. If any unclaimed assets appear, the next step is to contact the relevant institution to begin the claim process.
For families managing the estate of a deceased relative, the portal can be a valuable tool to identify assets that might otherwise remain unclaimed. Executors and legal heirs should run searches for the deceased person's name to ensure no financial assets are overlooked.
The launch of this unified platform marks a practical step toward reducing the pool of unclaimed assets in India's financial system. For individual citizens, it offers a simple way to check whether they have money sitting idle that could be put to better use.
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