Union Finance Minister Nirmala Sitharaman said on Saturday 4 October that financial assets worth about Rs 1.84 lakh crore are lying without any claims with banks and regulatory institutions across the country. He said that the officials should ensure that these funds reached their real entitlements as soon as possible. Nirmala Sitharaman also launched a campaign called “your capital, your right” from Gandhinagar in Gujarat. This campaign will run for about three months.
Sitharaman said that on this occasion, the authorities asked the authorities to focus on “awareness, access and time -bound action” to help the citizens return their money.
The Finance Minister said, “A large amount is lying near the bank, RBI or IEPF (Investor Education and Protection Fund).
Nirmala Sitharaman said that it is not just the amount recorded on paper, but the hard earned money of common families, which can become the basis of their education, health and financial security. He appealed to the authorities to work on three aspects – awareness, access and action – to make these un -claimed properties to their real owners during the three -month campaign.
He told that through awareness, people will be informed about where and how their money can be discovered. Programs will be run at simple digital tools and district levels for access, while the purpose of action will be to settle the claims transparent and timelid.
The Finance Minister said that if the property is not claimed for a long time for some reason, it is transferred from one institution to another. He said that in terms of deposits, it goes to RBI from banks. At the same time, in the case of share or other such assets, it goes from SEBI to “another center or IEPF”.
Sitharaman said that RBI has created a separate portal called ‘UDGAM (Unclaved Deposits Gateway to Access Information)’. He said, “As soon as you claim, you will get money. So now the time has come to spread more and more information about it.”
Sitharaman also told that Prime Minister Narendra Modi To carry out this initiative personally, the Ministry had asked the ministry to “eliminate the distance between people and financial institutions and ensure that they could get their money.”
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