The government is preparing to distribute money by organizing camps, do you also have a share in the Rs 78213 crore deposited with banks; claim it this way

Unclaimed Amount: Rs 78,213 crore is lying unclaimed with the banks. That means there is no one to claim this amount. In such a situation, Finance Minister Nirmala Sitharaman on Tuesday appealed to the banking regulators to return the unclaimed deposits to their rightful owners.

Unclaimed amount is increasing in banks

While chairing the 29th meeting of the Financial Stability and Development Council (FSDC), he also talked about simplifying the KYC process for all Indian citizens including NRIs so that there is transparency in the banking sector, everyone has easy access to it and digitally it is much better than before.

According to the new data of RBI, the unclaimed amount lying in banks till March 2024 has increased by 26 percent compared to last year. Now this number is Rs 78,213 crore. By the end of March 2023, an amount of Rs 62,225 crore is deposited under the Depositor Education and Awareness Fund alone. Unclaimed money includes deposits in banks as well as unclaimed shares and dividends and unclaimed insurance and pension funds.

Money will be distributed by organizing camps

In view of the increasing unclaimed amount, Finance Minister Nirmala Sitharaman directed financial regulators like RBI, SEBI, MCA, PFRDA, and IRDA to organize special camps at the district level. Through this, the work of delivering unclaimed money to their rightful owners will be done faster. Former Reserve Bank Governor Shaktikanta Das, SEBI Chairman Tuhin Kanta Pandey and IFSCA Chairman K Rajaraman, along with senior representatives of IRDAI, PFRDA, IBBI and various departments of the Central Government attended this meeting.

How to find out the unclaimed amount-

For this, first of all you have to go to RBI's UDGAM portal udgam.rbi.org.in.

Here you have to click on Register.

Enter all the information asked here properly.

Then set a password and fill the captcha code.

Now enter the OTP received on the phone.

Once registered, go to the UDGAM portal again and login now.

Enter the name of the account holder and select one of the banks listed.

Now enter the account holder's PAN card number, voter ID, passport or license number.

Then click on the search button.

If there is any unclaimed deposit in your name in the bank, its information will be given to you on the screen.