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More than Rs 72,000 crore in unclaimed bank deposits, including amounts lying with foreign lenders, have been transferred to a fund maintained by the Reserve Bank of India (RBI), the government told Parliament on Tuesday. The money is held in the Depositor Education and Awareness (DEA) Fund and reflects balances that have remained untouched for…
At an age when most women are getting married, building careers, or planning families, Pooja Sharma spends her days cremating unclaimed dead bodies. Born into a middle-class family in Shahdara, Delhi, Pooja completed a master’s degree in social work and was working as an HIV counsellor at a government hospital. At the time, Pooja was…
Discover unclaimed money in your family’s name through the RBI’s UDGAM portal. Simply use basic details like name and date of birth to search across numerous banks. If a match surfaces, reclaim your funds by visiting the bank with necessary documents. This initiative helps reunite individuals with forgotten deposits, ensuring rightful owners can access their…
File photo: Finance minister Nirmala Sitharaman (PTI) AHMEDABAD: Finance minister Nirmala Sitharaman Saturday launched a nationwide campaign to return Rs 1.84 lakh crore of unclaimed financial assets lying with banks, RBI, insurance firms, mutual funds, provident fund accounts and other institutions to their rightful owners.The three-month programme also seeks to raise awareness. “These unclaimed amounts…
This growing pile of unclaimed wealth reflects not just investor negligence but also structural issues that need attention. Unclaimed money in mutual funds has touched worrying levels. According to the Sebi annual report, dividends and redemption proceeds lying unclaimed with mutual fund houses shot up to Rs 3,452 crore in 2024-25, up 20% from Rs…
