Finance Minister Nirmala Sitharaman launched a nationwide financial awareness campaign on Saturday in Gandhinagar, while recognizing regional rural banks for strengthening ties between citizens and formal banking systems through recent KYC initiatives. The minister emphasized that unclaimed deposits, insurance proceeds, dividends, mutual fund balances, and pensions represent hard-earned family savings rather than administrative records. She outlined three guiding principles for the initiative: awareness to inform citizens about tracing unclaimed assets, accessibility through simplified digital tools and district outreach, and action to ensure timely claim settlements.
Secretary M. Nagaraju reported that more than 75,000 crore rupees in unclaimed deposits have been transferred to the RBI Depositor Education and Awareness Fund as of August. Unclaimed insurance proceeds exceed 13,800 crore rupees, mutual fund balances total approximately 3,000 crore rupees, and unpaid dividends surpass 9,000 crore rupees. State Finance Minister Kanubhai Desai pledged full support for the campaign's execution through active participation. Sitharaman distributed certificates to beneficiaries who reclaimed their deposits from various institutions.
Secretary M. Nagaraju reported that more than 75,000 crore rupees in unclaimed deposits have been transferred to the RBI Depositor Education and Awareness Fund as of August. Unclaimed insurance proceeds exceed 13,800 crore rupees, mutual fund balances total approximately 3,000 crore rupees, and unpaid dividends surpass 9,000 crore rupees. State Finance Minister Kanubhai Desai pledged full support for the campaign's execution through active participation. Sitharaman distributed certificates to beneficiaries who reclaimed their deposits from various institutions.
