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₹1.84 lakh crore in unclaimed assets lying safe with banks, regulators: Sitharaman
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Mathrubhumi English
Ahmedabad: Union Finance Minister Nirmala Sitharaman on Saturday said financial assets worth ₹1.84 lakh crore were lying unclaimed with banks and regulators, and officials need to ensure these reach the rightful owners.
Speaking on the occasion, the Union Minister for Finance and Corporate Affairs said that financial assets worth ₹1.84 lakh crore were lying unclaimed with banks and regulators in the form of bank deposits, insurance, provident fund or shares.
She urged officials to work on three As — Awareness, Access and Action — to ensure these unclaimed assets reach rightful owners during the three-month-long campaign.
"Unclaimed monies are lying with the banks or with the RBI or with the IEPF (Investor Education and Protection Fund).
We have to find the rightful owners and claimants of those funds and hand the money over to them," Sitharaman said.