Integrated Portal: Big relief! Now you can track your money in one place; the government is launching a new portal..

If you have money stuck in a bank, an old insurance policy, shares, or a pension scheme and haven't been able to claim it, there's good news for you. The Finance Ministry is preparing to launch a dedicated unified portal soon. This portal will allow you to locate all your unclaimed financial assets in one place. This will simplify the process of recovering them.

RBI will take charge
Financial Services Secretary N. Nagaraju provided this information. He explained, "We are working closely with the Reserve Bank of India (RBI) to launch this new portal. This portal will consolidate data from all financial regulators (such as RBI, SEBI, and IRDAI)."

Why is this needed?

Currently, there are separate portals for different types of unclaimed money, such as:

For bank deposits: RBI's 'Udgam' portal.

For the stock market: SEBI's 'Mitra' portal.

For insurance policies: IRDAI's 'Bima Bharosa' portal.
This new integrated portal will bring all of these under one roof, allowing citizens to easily locate and claim their stuck money.

Crores of Rupees Recovered
Nagaraju explained that due to a lack of awareness, a large amount of people's money remains stuck in these accounts. The government recently launched a campaign called 'Your Capital, Your Rights.' Through this campaign and camps, ₹1,887 crore has been returned to their rightful owners or creditors. The money has been returned to the heirs.

The government hopes that with the launch of this new digital portal, the speed of claim settlement will increase even more.