Have you ever wondered whether you have forgotten bank deposits, insurance money, dividends, or mutual fund investments lying unclaimed somewhere?
To help people trace and recover such funds, the Department of Financial Services (DFS) under the Ministry of Finance has launched a new Common Landing Portal for Unclaimed Financial Assets.
The portal is designed to make it easier for citizens to search for financial assets that may have been left unclaimed for years.
One Platform to Search for Multiple Financial Assets
The newly launched portal serves as a single access point for searching different types of unclaimed financial assets across the financial system.
Through the platform, users can check for:
Unclaimed bank deposits
Insurance claims
Unclaimed shares
Pending dividends
Mutual fund investments
The initiative has been developed in collaboration with the PSB Alliance and aims to simplify the process of locating forgotten or unclaimed money.
Citizens can access the portal here:
https://www.unclaimedassetsportal.in
Part of the ‘Your Money, Your Right’ Campaign
The portal is an extension of the government’s nationwide campaign, “Aapki Poonji, Aapka Adhikar” (Your Money, Your Right).
The campaign has been running in coordination with banks, financial institutions, regulators, and other stakeholders to help people identify and reclaim their rightful financial assets.
Officials believe that bringing multiple search facilities together on a single platform will improve convenience and help more people reconnect with their money.
What Are Unclaimed Deposits?
Many people are unaware that inactive bank accounts can eventually become unclaimed deposits.
According to banking rules, the following are classified as unclaimed deposits:
Savings or current accounts that remain inactive for 10 years
Fixed deposits or term deposits that are not claimed within 10 years after maturity
Such deposits often remain untouched because account holders forget about them, move to a new location, or fail to update their banking information.
Where Does the Money Go?
When deposits remain unclaimed for a long period, banks transfer the funds to the Depositor Education and Awareness (DEA) Fund, which is maintained by the Reserve Bank of India (RBI).
The DEA Fund operates under the Depositor Education and Awareness Fund Scheme, 2014, which outlines how the funds are managed and used to promote depositors’ interests and financial awareness.
Importantly, transferring money to the DEA Fund does not mean account holders lose ownership of their funds.
Eligible individuals can still claim their money by following the required process.
RBI Makes It Easier to Reactivate Accounts
The Reserve Bank of India has also introduced measures to help customers access inactive accounts more easily.
Under the latest guidelines, banks must provide facilities for updating KYC details at all branches, including non-home branches, to reactivate inoperative accounts and claim unclaimed deposits.
Banks have also been encouraged to offer KYC updates through the Video Customer Identification Process (V-CIP), allowing customers to complete verification remotely without visiting a branch.
Why This Portal Matters
Millions of rupees worth of financial assets remain unclaimed across banks, insurance companies, and investment platforms every year.
With the launch of this new portal, citizens now have a simple way to check whether any forgotten money belongs to them or their family members.
A quick search could help you recover old deposits, insurance payouts, dividends, or investments that you may not even remember owning.
