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Big News: 78213 crore rupees will be distributed in every district, FM Sitharaman gave the order

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Big News: 78213 crore rupees will be distributed in every district, FM Sitharaman gave the order
Big News: 78213 crore rupees will be distributed in every district, FM Sitharaman gave the order

Nirmala Sitharaman in FSDC: Recently, a portal was launched to transfer the unclaimed money deposited in the accounts to their real owners. Now the government is trying to organize district-wise camps to transfer this money to its rightful owners and settle these cases there.

Unclaimed Funds in Bank: Unclaimed funds in banks and insurance companies are constantly increasing. The government is constantly expressing concern about this. Recently, a portal was also launched to deliver the unclaimed amount deposited in the accounts to their real owners. The government is trying to ensure that this money reaches its real beneficiaries. Now, for this, unclaimed money will be delivered to its real owners by organizing camps at the district level. Union Finance Minister Nirmala Sitharaman (FM Sitharaman) has asked to implement the process as soon as possible.

Many agencies will work together

After the order of the Finance Minister, special camps will be set up at the district level to deliver the money to its real beneficiaries. Under this, many agencies will work together and people who own this money will be identified. During the 29th meeting of the Financial Stability and Development Council (FSDC) in Mumbai, Finance Minister Nirmala Sitharaman gave instructions in this regard. During this, important financial regulators like Reserve Bank of India (RBI), SEBI, IRDAI, PFRDA and senior officials of the Finance Ministry participated. The challenges and policies of the financial sector were discussed in the meeting.

There should be a system to return the money easily

During the meeting, attention was paid to the unclaimed money. This money is stuck in inoperative bank accounts, unclaimed insurance policies and dormant security holdings. Due to lack of awareness and delay in the process, this money is not reaching its beneficiaries. Finance Minister Sitharaman directed that there should be a system to return this money quickly and easily. For this, Sitharaman asked to make the Know Your Customer (KYC) process easy and digital. She said to make it such that people and businessmen do not face any problems. She asked to work actively for better experience in the financial sector.

Unclaimed money increased to Rs 78213 crore

According to the Reserve Bank report, the unclaimed amount in banks has increased to Rs 78213 crore by March 2024. The data till March 31, 2025 has not been released yet. FSDC also emphasized on better coordination between financial regulators. The council also talked about increasing investment, improving factoring services and strengthening the account aggregator system. Let us tell you that the chairman of FSDC is the Finance Minister. It includes the heads of regulatory bodies like RBI, SEBI, IRDAI, PFRDA and the Secretary of the Finance Ministry. FSDC prepares policies to maintain financial stability and overall development.

How to get unclaimed money?

If your bank account is inactive for a long time, then contact the bank for this. Check whether there is money in the account or not. If this money is related to an insurance policy, then talk to the insurance company about it. If the policy has matured or the claim is pending, then gather its information. You can get information about investment in demat account or mutual fund from the depository (NSDL/CDSL) or fund house. Apart from this, for PF, you can check with UAN number on EPFO ​​​​website whether there is money left in PF or not.


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