Integrated Push by Financial Regulators to Return Unclaimed Assets The three major financial‑sector regulators – RBI , IRDAI and SEBI have intensified measures to help citizens reclaim dormant financial assets. The effort is anchored on the nationwide campaign “आपकी पँजूी, आपका अधिकार – Your Money, Your Right” (Oct‑Dec 2025) and a suite of regulatory reforms introduced between 2024‑2026. Key Developments (2025‑2026) RBI issued the Responsible Business Conduct Directions, 2025 , and an incentive scheme (effective 1 Oct 2025) offering 5‑7.5% of unclaimed deposits (subject to a cap) for successful claim settlement. Banks must now conduct periodic drives, publish unclaimed‑deposit lists and run awareness campaigns. The Banking Laws (Amendment) Act, 2025 enables up to four nominations per account, simplifying heir identification. The Indian Banks’ Association introduced a common application form and standard operating procedure (SOP) for settlement through a dedicated bank portal. IRDAI now mandates collection of proposer and nominee details at the proposal stage. Insurers must send advance intimation of pending claims and use SOPs, FAQs and awareness videos posted on the IRDAI website. SEBI simplified transmission procedures: nomination promotion, reduced documentation for claims up to ₹5 lakh, and image‑based processing for nominee/joint‑holder claims as per its Master Circular dated 27 June 2024. Mutual fund houses must maintain a help‑desk and a dedicated webpage on the Association of Mutual Funds in India (AMFI) site. Important Facts (as of 28 Feb 2026) Unclaimed deposits transferred by public‑sector banks to the DEA Fund : ₹60,518 crore . Unclaimed insurance amounts with insurers: ₹8,973.89 crore . Unclaimed mutual‑fund balances under SEBI regulations: ₹3,749.34 crore . Through the campaign, ₹5,777 crore covering **22.95 lakh** claims have been restituted to rightful owners. RBI’s UDGAM portal registered 18.86 lakh users as of 1 Mar 2026. IRDAI’s Bima Bharosa and SEBI’s MITRA are operational. UPSC Relevance Understanding these initiatives is vital for GS‑3 (Economy & Finance) as they illustrate: Regulatory coordination to curb financial “dead‑weight” and improve asset utilisation. Policy tools for financial inclusion – simplifying claim processes encourages citizen confidence in formal financial institutions. The role of statutory bodies (RBI, IRDAI, SEBI) in consumer protection and market integrity. Implications for public‑sector bank balance sheets – unclaimed deposits are treated as contingent liabilities, affecting fiscal health. Way Forward To sustain momentum, the regulators should: Complete the envisaged single integrated portal for all asset classes, ensuring a one‑stop‑shop for claimants. Strengthen data‑sharing mechanisms among banks, insurers and mutual‑fund houses while safeguarding privacy. Expand financial‑literacy drives, especially in rural and semi‑urban districts, to pre‑empt future accumulation of dormant assets. Periodically review incentive schemes and nomination limits to keep pace with evolving demographic patterns. Collectively, these steps aim to convert dormant wealth into active capital, bolster financial inclusion, and reinforce the credibility of India’s financial regulatory architecture.