Centre Rolls Out Common Portal to Reconnect Citizens With Forgotten Financial Assets

In a significant move aimed at strengthening financial inclusion and helping citizens recover forgotten savings, the Ministry of Finance has launched a unified online platform that enables people to search for unclaimed bank deposits, insurance claims, shares, dividends and mutual fund investments through a single interface.

The new portal, developed by the Department of Financial Services (DFS) in collaboration with the PSB Alliance , was launched by DFS Secretary M. Nagaraju during a review meeting of public sector banks. The initiative is designed to simplify the process of tracing dormant financial assets and reconnect individuals with money that legally belongs to them.

The launch comes as India grapples with a growing pool of unclaimed financial assets spread across banks, insurance companies and capital markets. Government data presented in Parliament has shown that public sector banks alone have transferred more than ₹60,500 crore in unclaimed deposits to the Depositor Education and Awareness Fund. Thousands of crores more remain unclaimed in insurance policies, mutual funds, shares and dividend accounts.

Officials said the platform will serve as a common gateway for citizens seeking information about forgotten or inactive financial holdings. Previously, individuals often had to navigate multiple websites and regulatory systems to trace assets, making the process time-consuming and confusing.

The government noted that assets frequently become unclaimed due to factors such as migration, job changes, dormant accounts, outdated contact details and inadequate nominee information . In many cases, legal heirs are unaware of investments or deposits held by deceased family members, making recovery particularly challenging.

The portal builds upon the nationwide “Your Money, Your Right” campaign, which has been undertaken by the DFS in coordination with financial regulators and institutions. The campaign focuses on raising awareness, helping citizens identify dormant assets and facilitating their return to rightful owners.

While the new platform is expected to improve access to information, experts point out that reclaiming assets often requires documentation such as identity records, nominee details and succession certificates. They argue that continued efforts to simplify claim procedures will be crucial to ensuring successful recoveries.

Describing the initiative as a step toward a more transparent, citizen-centric financial ecosystem , the government said the portal supports the broader vision of Viksit Bharat 2047 by enhancing public trust, financial empowerment and access to financial services. For millions of Indians, it could provide a long-awaited opportunity to rediscover and reclaim forgotten wealth.