You might have money sitting in a bank account you forgot about years ago. Or maybe a relative left behind an insurance policy or mutual fund you never knew existed. You are not alone. Millions of Indians have forgotten savings, matured fixed deposits, and unpaid dividends that still legally belong to them.
The good news? The Government of India has stepped in to help. The Ministry of Finance, along with key regulators like the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), and Securities and Exchange Board of India (SEBI), now provide dedicated portals to help you track down these lost assets.
The scale of this issue is massive. Between October and December 2025, the government ran a nationwide campaign called 'Aapki Poonji, Aapka Adhikar' (Your Money, Your Right). By February 28, 2026, this campaign successfully returned ₹5,777 crore to citizens through 22.95 lakh claims. This proves that checking these portals is well worth your time.
Key Highlights at a Glance
- Massive Recoveries: The government helped citizens recover ₹5,777 crore in just a few months.
- Dedicated Portals: Use UDGAM for banks, Bima Bharosa for insurance, and MITRA for mutual funds.
- Important Distinction: These portals only help you find the money. You must claim it directly from the bank or company.
Where is the Money? The Staggering Numbers
The amount of unclaimed money in the Indian financial system is huge. It is scattered across different sectors, each governed by its own rules and timelines. A March 2026 report from the Ministry of Finance gave a clear snapshot.
| Asset Category | Unclaimed Amount | Data As Of |
|---|---|---|
| Public Sector Bank Deposits (in RBI's DEA Fund) | ₹60,518 crore | January 31, 2026 |
| Insurance Proceeds (with Insurers) | ₹8,973 crore | February 28, 2026 |
| Mutual Fund Amounts | ₹3,749 crore | February 28, 2026 |
It is important to note that these funds are not mixed together. Each regulator holds its own specific pool of unclaimed money.
Where to Start: The Common Gateway
If you are unsure where to begin, the government has created a central starting point. The Unclaimed Assets Portal acts as a directory. It will not search for your money directly, but it will point you to the correct regulator's website.
You can find this common gateway here: unclaimedassetsportal.in. It links you to four main platforms:
- UDGAM for Bank Deposits (RBI)
- Bima Bharosa for Insurance (IRDAI)
- MITRA for Mutual Funds (SEBI)
- IEPFA for Shares and Dividends
To do a deep dive, let’s look at each portal and how it works.
1. Finding Bank Money: The RBI UDGAM Portal
Have you moved cities and forgotten to close an old salary account? Did your parents have an old fixed deposit? If an account has seen no activity for 10 years, banks transfer the money to the RBI’s Depositor Education and Awareness (DEA) Fund. But the money is still yours to claim.
To find these deposits, you use the UDGAM Portal (Unclaimed Deposits – Gateway to Access Information).
How to Search on UDGAM
First, register on the site with your mobile number. Then, you can search using the account holder's name and one other identifier. This could be a PAN card, Voter ID, Driving Licence, or Passport. If you don’t have those, you can sometimes use an old address.
If UDGAM finds a match, it gives you a special code called an Unclaimed Deposit Reference Number (UDRN).
Crucial Rule: UDGAM does not give you the money. It only tells you which bank has it. To get your cash, you must take that UDRN and your KYC documents (like Aadhaar and PAN) directly to a branch of that bank.
2. Tracing Insurance Policies: Bima Bharosa
Life insurance policies often get forgotten. People move, change numbers, or sadly, pass away without telling their families about a policy. The money just sits there.
In the insurance world, money is considered "unclaimed" if it hasn't been paid out 12 months after the due date. The IRDAI built the Bima Bharosa platform to help families find these funds.
How to Use Bima Bharosa
Visit the Bima Bharosa website. You can search directly on individual company portals, or use the central search tool. The central tool asks for the policyholder's name, date of birth, and PIN code. You can check up to five insurance companies at once.
If you find a policy, you must contact that specific insurance company (like LIC or HDFC Life) to claim the payout. You will need the policy documents, a cancelled cheque, and your KYC details.
Important Deadline Note: If insurance money remains unclaimed for 10 years, it moves to the Senior Citizens' Welfare Fund (SCWF). However, you can still claim it for up to 25 years after it enters the SCWF. Do not give up hope if it has been more than a decade.
3. Recovering Mutual Funds: SEBI's MITRA
Mutual funds can easily slip through the cracks, especially older physical investments. If a mutual fund has had no transactions (buying or selling) for 10 years, SEBI calls it an "inactive folio."
To trace these, SEBI launched MITRA (Mutual Fund Investment Tracing and Retrieval Assistant). This tool is hosted by the industry registrars, CAMS and KFintech. You can access it via MF Central.
MITRA searches the entire industry database. If it finds a match, it tells you which Asset Management Company (AMC) holds the investment. You must then contact that AMC to update your KYC and redeem the funds.
4. Finding Lost Shares: The IEPFA Portal
What about old physical share certificates or dividends that were never cashed? If a dividend is not claimed for seven years, it goes to the Investor Education and Protection Fund (IEPF). The shares themselves may also be transferred.
You can search for these on the IEPFA website. Claiming them requires filling out a specific form online (Form IEPF-5) with the Ministry of Corporate Affairs. The company that issued the shares must verify your claim first.
The Hardest Part: Claiming for a Deceased Relative
Finding the money is only step one. Claiming it, especially if the original owner has passed away, is where it gets complicated. This is the biggest hurdle for most families.
The process depends entirely on whether a "Nominee" was named on the account or policy.
If You Are the Nominee
This is the simpler route. If you are listed as the nominee, the bank or insurer usually just needs the original death certificate of the account holder, and your own KYC documents (like Aadhaar and PAN). The money is paid to you, but remember, legally, you hold it in trust for the legal heirs.
If There Is No Nominee (The Legal Heir Route)
This is much harder. If no nominee was listed, you must prove you are the legal heir. For small amounts, banks might accept an indemnity bond and a letter from family members. But for larger sums, you usually need a formal Succession Certificate from a court, or a probated will. This can take months and involves legal fees.
Pro Tip: Ensure your own Aadhaar and PAN are linked, and your bank account is fully KYC-compliant. If they are not, the bank cannot transfer the recovered money to you.
The News4Bharat Perspective: Protect Yourself
While these tools are fantastic, they attract scammers. Fraudsters often call, claiming they can "unlock" your unclaimed funds for a fee. Do not fall for this.
All these government portals (UDGAM, Bima Bharosa, MITRA, IEPFA) are completely free. No official agency will ever ask for a processing fee to release your money. Never share your OTP, net banking password, or debit card details. Do not scan random QR codes sent via WhatsApp claiming to be a "refund."
The government has built the roads to help you find your lost money. It requires a bit of paperwork and patience, but checking these portals could reunite you with funds you didn't even know you had.
Frequently Asked Questions (FAQs)
Quick answers on how to find and claim your forgotten money.
1. How do I start looking for unclaimed money?
Start at the government's common gateway (unclaimedassetsportal.in). It will direct you to UDGAM for banks, Bima Bharosa for insurance, and MITRA for mutual funds.
2. Does the UDGAM portal transfer money to me?
No. UDGAM only searches for the money. To get it, you must take the reference number it gives you and visit the specific bank branch with your ID.
3. Can I claim money from an account closed 15 years ago?
Yes. Bank money transferred to the RBI's DEA Fund does not expire. You can claim it at any time by proving ownership to the bank.
4. What if my relative died and didn't name a nominee?
You can still claim the money as a legal heir. However, you will likely need a Succession Certificate from a court, which takes more time and legal work.
5. Is there a fee to use these government portals?
No. UDGAM, Bima Bharosa, and MITRA are 100% free. Never pay anyone who claims they can speed up the process or asks for a fee to release funds.
Editorial & Legal Disclaimer: This report is published by News4Bharat for general informational and journalistic purposes only and does not constitute financial, investment, legal, or professional advice. All data, figures, and statements are sourced from public filings, regulatory notifications, and attributed third-party reports believed to be reliable at the time of publication; however, figures marked as approximate, provisional, or reported remain subject to official audit and revision. References to ongoing investigations, disputes, or regulatory actions reflect alleged or preliminary positions unless confirmed by a final judicial or statutory order. Readers are advised to verify details independently with certified professionals or primary regulatory records before making any financial or legal decisions.