Unclaimed financial assets: FM Sitharaman urges citizens to spread the word

Gandhinagar, Oct 4 (IANS) Union Finance Minister Nirmala Sitharaman on Saturday urged citizens to spread the word about unclaimed assets in the financial sector, guiding people to claim what is rightfully theirs.

Launching the nationwide awareness campaign on unclaimed assets in the financial sector from here, she said that if the three ‘A’s -- Awareness, Access and Action -- are fulfilled, the money lying in safe custody can be rightfully claimed by the people with proper documents.

“I urge you all to become ambassadors of this campaign, reach out to people you know, ask if they hold any papers of unclaimed financial assets, and guide them to register on the portal to claim what is rightfully theirs,” FM Sitharaman told the gathering.

“This initiative has the potential to benefit countless citizens. I humbly request you to spread the word about this campaign in your communities and nearby areas,” she added.

The Finance Minister said she is very grateful to Prime Minister Narendra Modi, “who once advised me to go among the people and call upon them to claim what is rightfully theirs”.

“Acting on his advice, I am glad to share that Gujarat has taken the lead in launching this campaign,” she noted in a post on X.

With concerted efforts from all -- the Finance Ministry, regulators, state governments and banks in villages -- if the entire chain is activated, everyone will be able to reclaim their money, she said, adding that “this is not only our assurance, but also our duty”.

Unclaimed financial assets, including insurance policy claims, bank deposits, dividends, shares, and mutual fund proceeds, often remain unclaimed due to lack of awareness or outdated account details.

The government is committed to ensure that every rupee saved by citizens can be rightfully claimed by them, or by their legal heirs and nominees.

The campaign will encourage people to participate actively, spread awareness, and strengthen financial inclusion in every household.

--IANS

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