‘Your Money, Your Right’ Awareness Campaign Launched

Why in News ?

The Prime Minister has urged citizens to actively participate in the ‘Your Money, Your Right’ movement—an initiative designed to help people reclaim their unclaimed deposits, insurance proceeds, mutual fund payouts, dividends, and other forgotten financial assets.

This nationwide campaign aims to enhance financial awareness, strengthen consumer protection, and ensure that citizens can access funds lying unclaimed for years due to lack of information or procedural hurdles.

Background & Context

India’s Growing Burden of Unclaimed Financial Assets

In recent years, India has seen a sharp rise in unclaimed amounts across banks, insurance companies, mutual funds, and corporates.

Key reasons include:

• Death of account holders without nomination
• Lack of awareness among family members
• Dormant accounts due to migration or change in banks
• Financial illiteracy and poor documentation
• Difficulty in tracking multiple old accounts
• Ineffective communication from institutions

Scale of the Problem

• RBI holds thousands of crores in unclaimed bank deposits (accounts inactive for 10+ years).
• IRDAI reports large amounts of unpaid insurance claims.
• SEBI notes substantial unclaimed mutual fund payouts.
• IEPFA handles thousands of crores in unclaimed dividends and shares.

To address this, the government launched a consolidated citizen-centric initiative: “Your Money, Your Right.”

What is the ‘Your Money, Your Right’ Movement ?

Launched by the Central Government in 2025, the movement is a nationwide financial awareness and reclamation campaign aimed at helping citizens identify and recover:

• Unclaimed bank deposits
• Unpaid insurance claims
• Unredeemed mutual fund amounts
• Unpaid dividends
• Unclaimed shares
• Other dormant financial assets

It involves coordinated participation from:

• Government departments
• Financial regulators
• Banks and insurance companies
• Mutual fund houses
• Corporate entities
• Financial literacy institutions

The central idea is to ensure that citizens regain control over funds that rightfully belong to them.

Why are These Called “Unclaimed Deposits” ?

As per RBI norms, bank accounts not operated for 10 years become "unclaimed." Similar rules apply to:

• Insurance proceeds not claimed
• Mutual fund redemption amounts not withdrawn
• Dividends unclaimed for 7 consecutive years (transferred to IEPF)

Digital Infrastructure Under the Movement

The government has integrated multiple regulators through dedicated portals to assist people in tracing their unclaimed funds.

1. RBI – UDGAM Portal

Unclaimed Deposits – Gateway to Access Information

• Helps users locate unclaimed bank accounts across multiple banks
• Centralised search using PAN, Aadhaar, mobile number, or name

2. IRDAI – Bima Bharosa Portal

• Provides information on unclaimed insurance policy amounts
• Covers life and general insurance

3. SEBI – MITRA Portal

• Helps track unclaimed mutual fund redemption amounts, dividends, and other unpaid dues

4. Ministry of Corporate Affairs – IEPFA Portal

• Helps reclaim unpaid dividends and unclaimed shares
• Includes procedures for transmission of shares and claim verification

Physical Outreach

• DFS conducts facilitation camps in rural and urban areas
• Banks and district authorities assist citizens with paperwork and verification
• Special campaigns focus on senior citizens and families with deceased members

Implementation Framework

Nodal Agency:

Department of Financial Services (DFS), Ministry of Finance.

Coordination Mechanism:

• Central monitoring by DFS
• Regulator-level coordination with RBI, IRDAI, SEBI, and MCA
• District-level camps with banks & financial literacy centres
• Public awareness drives through Panchayats, CSCs, and media

Significance of the Movement

1. Financial Inclusion

Brings forgotten or inaccessible funds back into the banking system, boosting household financial stability.

2. Consumer Protection

Empowers citizens to reclaim their rightful assets through simplified processes.

3. Transparency and Accountability

Strengthens trust between citizens and financial institutions.

4. Digital Governance

Promotes the use of unified digital platforms across regulators.

5. Economic Impact

Unclaimed funds running into thousands of crores get returned to households, enhancing consumption and savings.

Challenges Ahead

• Low awareness among rural and elderly populations
• Incomplete KYC or missing documents
• Lack of nomination in old accounts
• Procedural delays due to multiple institutions
• Confusion caused by similar names, incorrect entries

The government aims to address these through ongoing awareness campaigns and simplified online claim procedures.