Finance Ministry Launches Unified Portal for Unclaimed Deposits, Shares, Mutual Funds and Insurance Claims

The Finance Ministry has launched a Common Landing Portal for Unclaimed Financial Assets, bringing together search facilities for various categories of unclaimed financial holdings on a single platform, as per PTI news reports. 

The portal, www.unclaimedassetsportal.in, allows individuals to check information related to unclaimed bank deposits, insurance claims, shares, dividends and mutual funds.  

It has been developed by the Department of Financial Services (DFS) in collaboration with the Public Sector Bank Alliance (PSBA). 

Developed With Public Sector Banks 

PSBA is a centralised umbrella organisation jointly promoted by 12 public sector banks. The portal was launched during a review meeting of public sector banks chaired by officials from the Department of Financial Services. 

The government said the platform is to make it easier for individuals to access information that is currently available through multiple channels across the financial sector. 

Part of Ongoing Recovery Efforts 

The launch follows efforts by regulators, banks and financial institutions to help customers and legal heirs trace assets that remain unclaimed.  

Such assets can arise when accounts become inactive, investors lose track of investments, or beneficiaries do not claim proceeds. 

The ministry said the portal is linked to existing search facilities available across different financial segments, enabling users to access them through a common entry point. 

Linked to ‘Your Money, Your Right’ Campaign 

The initiative is a part of the ‘Your Money, Your Right’ campaign undertaken by the Department of Financial Services.  

The campaign has focused on creating awareness about unclaimed financial assets and helping individuals identify funds that may belong to them. 

According to the ministry, the portal has been designed to improve access to information and bring together search facilities that were previously spread across different institutions and websites. 

Official Statement 

Department of Financial Services Secretary M. Nagaraju said the platform would provide access to multiple search facilities through a single portal and support efforts to reconnect individuals with financial assets belonging to them. 

The ministry described the portal as a step towards improving access to information on unclaimed assets across the financial ecosystem. 

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Conclusion 

The Common Landing Portal serves as a single access point for searching unclaimed deposits, insurance claims, shares, dividends and mutual funds, bringing together multiple search facilities under one platform. 

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