‘Your Money, Your Right’ Movement Latest News
The Prime Minister recently called upon citizens to take part in the ‘Your Money, Your Right’ movement.
About ‘Your Money, Your Right’ Movement
- It was launched by the central government in October 2025.
- It is an initiative aimed at enabling people to reclaim their unclaimed deposits, insurance proceeds, dividends, and other financial assets.
- The effort brings together government agencies, regulators, banks, and financial institutions to identify and return long-forgotten funds.
- Indian banks are holding Rs 78,000 crore of unclaimed money belonging to our own citizens.
- Insurance companies have nearly Rs 14,000 crore lying unclaimed.
- Mutual fund companies have around Rs 3,000 crore, and dividends worth Rs 9,000 crore are also unclaimed.
- The deposits in accounts which are not operated for a period of 10 years are classified as unclaimed deposits.
- Under the initiative, individuals need to verify if their close family members or relatives have unclaimed deposits, insurance proceeds, mutual-fund payouts, or dividends.
- To facilitate this, the government has created dedicated portals as follows:
- Reserve Bank of India (RBI): UDGAM Portal for unclaimed bank deposits & balances.
- Insurance Regulatory and Development Authority of India (IRDAI): Bima Bharosa Portal for unclaimed insurance policy proceeds.
- Securities and Exchange Board of India (SEBI): MITRA Portal for unclaimed amounts in mutual funds.
- Ministry of Corporate Affairs: IEPFA Portal for unpaid dividends and unclaimed shares.
- Facilitation camps are being organised in districts across both rural and urban regions of the country.
- During the camps, the citizens will be provided on-the-spot guidance on how to search for their unclaimed assets, update records, and complete claim procedures.
- Digital tools and step-by-step demonstrations will also be showcased.
- On the national level, the campaign is coordinated by the Department of Financial Services (DFS), Ministry of Finance.
Source: PMI
‘Your Money, Your Right’ Movement FAQs
Q1: What is the primary objective of the ‘Your Money, Your Right’ Movement?
Ans: Returning unclaimed financial assets to citizens.
Q2: The ‘Your Money, Your Right’ initiative is coordinated at the national level by which authority?
Ans: Department of Financial Services, Ministry of Finance.
Q3: Approximately how much unclaimed money is lying with Indian banks? A. ₹25,000 crore
Ans: ₹78,000 crore
Q4: Which portal is used for checking unclaimed bank deposits?
Ans: UDGAM Portal
