Prime Minister Narendra Modi recently announced significant progress in the government’s “Your Money, Your Right” initiative. Launched in October 2025, the programme was designed to help citizens reclaim money that had been lying unclaimed in banks, insurance companies, mutual funds and other financial institutions. According to Modi, nearly ₹2,000 crore has already been returned to people across the country.
The Prime Minister shared the update through a LinkedIn post and during his speech at the Hindustan Times Leadership Summit held last week. He explained that the scale of unclaimed financial assets in India is much larger than what most people imagine. Banks are holding about ₹78,000 crore in unclaimed deposits. Insurance companies have around ₹14,000 crore waiting to be claimed. Mutual fund houses have nearly ₹3,000 crore in unclaimed units and dividends. Another ₹9,000 crore is lying unclaimed in other financial avenues. These numbers reflect years of forgotten savings, incomplete paperwork or families being unaware of money left behind by deceased relatives.
Modi emphasised that these funds belong to ordinary citizens who earned them through hard work. Many people may have shifted cities, changed phone numbers or failed to complete certain documents, which caused their money to remain unclaimed. The government decided that a coordinated and simple system was needed so people could recover what was rightfully theirs.
To address this issue, several digital platforms have been brought together under the “Your Money, Your Right” umbrella. The Reserve Bank of India created the UDGAM portal that helps users track unclaimed bank deposits. The Insurance Regulatory and Development Authority of India launched the Bima Bharosa portal for unclaimed insurance policies. The Securities and Exchange Board of India developed the MITRA portal for unclaimed amounts in mutual funds. The Ministry of Corporate Affairs introduced the IEPFA portal for unpaid dividends and shares. Each portal serves a specific financial category and allows people to find out whether they have money waiting for them.
Along with digital tools, the government has set up facilitation camps across the country. These camps help people, especially in rural and remote regions, access these platforms easily. According to Modi, 477 districts have already hosted such camps. The goal is to ensure that even citizens without smartphones, computers or strong internet access can still claim their money. Many camps provide on-the-spot assistance, helping people verify identity documents and submit claims.
The Prime Minister said that the initiative is a collective effort involving government departments, regulators, banks and other financial institutions. Their shared aim is to ensure that every citizen receives what belongs to them. He encouraged more people to check whether they or their family members have any forgotten assets.
Modi also appealed to citizens to treat this as an opportunity. Reclaiming forgotten financial assets can relieve families from financial pressure and help them use the money for education, health care or investments. He said that money should not remain locked away simply because someone was unaware of it or confused by the system. Instead, it should circulate and benefit the people who earned it.
In his address at the Hindustan Times Leadership Summit, Modi explained that the initiative is part of a larger goal to strengthen trust between the public and the government. When people see that the government is actively searching for rightful owners and returning money without any hidden conditions, it builds confidence. He said this approach is especially important for the poor and middle-class families who may have forgotten small deposits or insurance claims over time.
Modi ended his message by reminding people that this money is not a favour from the government. It is their own savings. Through the “Your Money, Your Right” initiative, the government aims to make the process simple, transparent and accessible. With more camps planned until December 2025 and continued cooperation between institutions, many more families are expected to benefit in the coming months.
The initiative reflects a broader push towards financial awareness and digital empowerment. As more people learn how to track and reclaim their funds, India moves closer to a future where no citizen’s hard-earned money remains forgotten.
