Don't Ignore This — You or Your Family May Have Unclaimed Money. Many Indians are unaware that their own hard-earned money could be lying unclaimed with banks, insurance companies, mutual funds, or corporates. This is not government money. This is public money that belongs to individuals and families — often forgotten due to relocation, lack of records, or lack of awareness. According to official government disclosures, thousands of crores of rupees are waiting to be claimed.
[IMAGE::Unclaimed Money in India Guide]
This detailed guide explains: what unclaimed money is, why it remains unclaimed, exact government-verified figures, official portals to check your money, step-by-step claim process, common mistakes to avoid, and FAQs to help families claim money smoothly.
How Much Unclaimed Money Exists in India? (Official Data)
As per disclosures from RBI, IRDAI, SEBI, and IEPFA, the total unclaimed money in India is massive.
Official Breakdown of Unclaimed Amounts
₹78,000+ crore lying as unclaimed bank deposits (RBI)
₹14,000+ crore with insurance companies (IRDAI)
₹3,000+ crore in unclaimed mutual fund investments (SEBI)
₹9,000+ crore as unclaimed dividends and shares (IEPFA)
Total: Over ₹1,04,000 crore
This money belongs to: individuals, senior citizens, nominees, legal heirs, and families of deceased account holders.
What Is Unclaimed Money?
Unclaimed money refers to financial assets that remain inactive for a long period and are not claimed by the rightful owner or nominee. These assets include:
Bank savings or fixed deposits
Insurance policy maturity or death claims
Mutual fund units
Shares and dividends
Refunds and matured investments
After a certain time, institutions must report these funds to regulators — but the ownership always remains with the citizen.
Why Does Money Remain Unclaimed?
In most cases, unclaimed money exists due to human and documentation issues, not fraud.
Common Reasons
Old bank accounts forgotten over time
Job transfers or migration to another city/country
Poor record-keeping of insurance or investments
Nominee details not updated
Death of account holder without family awareness
Change in contact details (mobile, email, address)
Even educated families often discover unclaimed money years later.
Government of India Initiative: "Your Money, Your Right"
To solve this nationwide issue, the Government of India launched a coordinated drive called: "Your Money, Your Right"
This initiative brings together:
RBI (Reserve Bank of India)
IRDAI (Insurance Regulatory and Development Authority of India)
SEBI (Securities and Exchange Board of India)
IEPFA (Investor Education and Protection Fund Authority)
Impact So Far
Over ₹2,000 crore already returned to rightful owners
Simplified online search and claim systems
Single-purpose portals for transparency
How to Check Unclaimed Money in India (Official Portals)
Below are 100% government-authorized portals — no agents required.
1️⃣ Unclaimed Bank Deposits – RBI UDGAM Portal
Portal: https://udgam.rbi.org.in
What You Can Check
Savings accounts
Fixed deposits
Inactive accounts across banks
Who Can Search
Self
Parents
Grandparents
Deceased family members
Details Required
Name of account holder
Date of birth (if available)
PAN (optional but helpful)
2️⃣ Unclaimed Insurance Money – IRDAI Bima Bharosa
Portal: https://bimabharosa.irdai.gov.in
What You Can Check
Life insurance maturity amount
Death claim proceeds
Lapsed or forgotten policies
Who Should Use This
Policyholders
Nominees
Legal heirs
3️⃣ Unclaimed Mutual Funds & Dividends – SEBI MITRA Portal
Portal: https://mitra.sebi.gov.in
What You Can Check
Mutual fund units
Unpaid dividends
Corporate investment amounts
4️⃣ Unclaimed Shares & Dividends – IEPFA
Portal: https://www.iepf.gov.in
What You Can Claim
Shares transferred to IEPFA
Dividends unpaid for 7+ years
Bonus shares and interest
Step-by-Step Process to Claim Unclaimed Money
Step 1: Search on the Relevant Portal
Enter the name and basic details.
Step 2: Identify the Institution
The portal shows the bank, insurer, AMC, or company holding the money.
Step 3: Submit Claim Request
Provide: identity proof, address proof, bank details, death certificate (if applicable), and legal heir or nominee documents.
Step 4: Verification
The institution verifies documents.
Step 5: Money Credited
Once approved, the amount is directly transferred to your bank account.
⏳ Processing Time: 15–45 days (varies by institution)
Important Things to Remember
No fees are charged on government portals
Avoid agents asking for commission
Keep scanned copies of documents ready
Always update nominee details in future
Claims can be filed even after many years
Frequently Asked Questions (FAQs)
Is there any deadline to claim unclaimed money?
No. Your money never expires.
Can legal heirs claim the amount?
Yes, with proper documentation.
Is PAN mandatory?
Not always, but it speeds up verification.
Can I check for deceased parents or relatives?
Yes, all portals allow family searches.
Why You Should Act Now
Records become harder to trace over time
Family members may not know later
Digital verification is easier today
This is your legal right
Final Words
Unclaimed money is not a scam, not a rumor, and not extra income. It is your own money, waiting for awareness. Take 10 minutes today: check official portals, inform your family, and share this information responsibly. Your Money. Your Right.