{"id":352820,"date":"2025-12-27T15:59:44","date_gmt":"2025-12-27T10:29:44","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=352820"},"modified":"2025-12-27T16:29:18","modified_gmt":"2025-12-27T10:59:18","slug":"your-money-your-right-initiative","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/your-money-your-right-initiative\/","title":{"rendered":"\u201cYour Money, Your Right\u201d Initiative"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>News:<\/strong> Your Money, Your Right\u201d is a nationwide awareness and facilitation initiative launched in 2025 to help citizens identify and reclaim unclaimed financial assets lying within the regulated financial system.<\/p>\n<h2 style=\"text-align: justify\">About \u201cYour Money, Your Right\u201d Initiative<\/h2>\n<figure style=\"width: 392px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.pib.gov.in\/WriteReadData\/userfiles\/image\/image003TEPW.jpg?resize=392%2C227&#038;ssl=1\" alt=\"Your Money, Your Right Initiative\" width=\"392\" height=\"227\" \/><figcaption class=\"wp-caption-text\">Source: PIB<\/figcaption><\/figure>\n<ul style=\"text-align: justify\">\n<li>This initiative is a <strong>nationwide awareness and facilitation initiative<\/strong>\u00a0to help citizens <strong>identify and<\/strong>\u00a0<strong>reclaim unclaimed financial assets<\/strong>.<\/li>\n<li>The initiative addresses unclaimed savings across\u00a0<strong>banks, insurance, mutual funds, dividends, shares and retirement benefits<\/strong>\u00a0held within the regulated financial system.<\/li>\n<li><strong>Coordinated by: <\/strong>The initiative is coordinated by the <strong>Department of Financial Services<\/strong> in collaboration with <strong>RBI, IRDAI, SEBI, IEPFA, and PFRDA<\/strong> to ensure a unified and citizen-centric approach.<\/li>\n<li>The<strong> initiative combined digital platforms with district-level facilitation camps<\/strong> across <strong>all States and Union Territories<\/strong> to ensure accessibility and direct citizen support.<\/li>\n<li><strong>Impact: <\/strong>Through coordinated efforts, <strong>nearly \u20b92,000 crore was returned to rightful owners<\/strong>, while also improving awareness about nominations, KYC compliance, and financial record-keeping.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify\">About Unclaimed Financial Assets<\/h2>\n<figure style=\"width: 341px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.pib.gov.in\/WriteReadData\/userfiles\/image\/image0051MZU.jpg?resize=341%2C176&#038;ssl=1\" alt=\"Unclaimed Financial Assets\" width=\"341\" height=\"176\" \/><figcaption class=\"wp-caption-text\">Source &#8211; PIB<\/figcaption><\/figure>\n<ul>\n<li style=\"text-align: justify\"><strong>About Unclaimed Financial Assets: <\/strong>Unclaimed financial assets <strong>refer to funds held with financial institutions that remain unclaimed by the account holder or their legal heirs<\/strong> for an <strong>extended period.<\/strong> These <strong>includes<\/strong>:\n<ul>\n<li><strong>dormant bank deposits<\/strong> such as savings, current, fixed and recurring accounts inactive for ten years or more;<\/li>\n<li><strong>unpaid insurance policy proceeds<\/strong>;<\/li>\n<li><strong>uncredited mutual fund redemption<\/strong> amounts or dividends due to changes or closure of bank accounts or incomplete records;<\/li>\n<li><strong>unclaimed dividends and shares<\/strong> transferred to statutory authorities and pension or retirement benefits not claimed in the normal course<\/li>\n<li>In most cases, such assets remain unclaimed due to common life <strong>events like migration, changes in contact details, closure of old accounts, or lack of awareness among family members<\/strong> and legal heirs.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Some portals started for this initiative<\/strong>\n<ul>\n<li style=\"text-align: justify\"><strong>UDGAM Portal (Bank Deposits): <\/strong>The portal, <strong>developed by RBI<\/strong>, <strong>enables citizens to search for unclaimed bank deposits<\/strong> held for <strong>ten years or more<\/strong> across participating banks through a centralized platform.<\/li>\n<li style=\"text-align: justify\"><strong>Bima Bharosa Portal (Insurance): <\/strong>The<strong> IRDAI\u2019s Bima Bharosa portal helps policyholders, nominees, and legal heirs trace unclaimed insurance<\/strong> proceeds that remain unpaid beyond the due date.<\/li>\n<li style=\"text-align: justify\"><strong>MITRA Portal (Mutual Funds): <\/strong>The <strong>MITRA platform on MF Central assists investors in identifying unclaimed or inactive mutual fund investments<\/strong> and guides them towards initiating claims with the concerned AMC or RTA.<\/li>\n<li style=\"text-align: justify\"><strong>IEPFA Portal (Dividends and Shares): <\/strong>The <strong>IEPFA portal allows individuals to trace and claim unclaimed dividends<\/strong> and shares transferred to the <strong>Investor Education and Protection Fund <\/strong>after <strong>seven years.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: Your Money, Your Right\u201d is a nationwide awareness and facilitation initiative launched in 2025 to help citizens identify and reclaim unclaimed financial assets lying within the regulated financial system. About \u201cYour Money, Your Right\u201d Initiative This initiative is a nationwide awareness and facilitation initiative\u00a0to help citizens identify and\u00a0reclaim unclaimed financial assets. The initiative addresses&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/your-money-your-right-initiative\/\">Continue reading <span class=\"screen-reader-text\">\u201cYour Money, Your Right\u201d Initiative<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872,3590],"class_list":["post-352820","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","tag-pib","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/352820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=352820"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/352820\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=352820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=352820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=352820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}