FM Nirmala Sitharaman announces unclaimed money worth ₹1.84 lakh crore, says money distribution will now be…, it can be claimed with…
FM Nirmala Sitharaman announces announced "Your Capital, Your Rights" campaign with an objective to return unclaimed assets to their rightful owners.
New Delhi: In a significant update for people of India(BHARAT), Union Finance Minister Nirmala Sitharaman revealed that approximately ₹1.84 lakh crore worth of unclaimed assets are currently held by banks and regulatory bodies. These assets are in the form of bank deposits, insurance, provident funds (PF), or shares. Mentioning the huge amount, Sitharaman made this statement during an event in Gandhinagar, Gujarat, where she also launched the “Your Capital, Your Rights” campaign.
What is “Your Capital, Your Rights” campaign?
The primary objective of “Your Capital, Your Rights” campaign is to return these unclaimed financial assets to their rightful owners. The Finance Minister urged officials to focus on three aspects: awareness, outreach, and action during this three-month campaign to ensure the transfer of these funds to their rightful owners.
What FM Sitharaman said on “Your Capital, Your Rights” campaign?
“I urge you all to become ambassadors of this campaign, reach out to people you know, ask if they hold any papers of unclaimed financial assets, and guide them to register on the portal to claim what is rightfully theirs,” FM Sitharaman told the gathering.
“This initiative has the potential to benefit countless citizens. I humbly request you to spread the word about this campaign in your communities and nearby areas,” she added.
The Finance Minister said she is very grateful to Prime Minister Narendra Modi, “who once advised me to go among the people and call upon them to claim what is rightfully theirs”.
Why do unclaimed financial assets remain?
People often fail to claim their bank deposits, insurance policies, share dividends, mutual funds, or other financial assets. This is primarily due to lack of awareness, outdated or altered account details, and the absence of relevant documents. Thus, the “Your Capital, Your Rights” campaign is an important step in making citizens aware of their financial rights.
(With inputs from agencies)
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