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FM Sitharaman Launches ‘Your Capital, Your Rights’ Drive to Return ₹1.84 Lakh Crore in Unclaimed Funds
Finance: Finance Minister Nirmala Sitharaman said on Saturday that financial assets worth ₹1.84 lakh crore lie unclaimed with banks and regulators. She urged officials to work on the three A's: awareness, outreach, and action, to ensure these funds reach their rightful owners.
Financial assets worth ₹1.84 lakh crore lie unclaimed with banks and regulators. Finance Minister Nirmala Sitharaman made the announcement on Saturday. According to her, officials must ensure that these reach their proper owners. Sitharaman inaugurated the three-month-long 'Your Capital, Your Rights' campaign from Gandhinagar, Gujarat. Gujarat Finance Minister Kanubhai Desai and bank and Finance Ministry top officials attended the event.
Sitharaman added that she encouraged the officials to focus on the three A's: awareness, outreach, and action, so that the money reaches its due owners. The first A is awareness. Inform them that your money is idle there, bring this paper, and take it. You can be ambassadors and inform people if they have not yet received their due property. Simply tell them to find their documents and register on the portal.
The minister further stated that access will be provided to the rightful beneficiaries through the RBI's UDGAM portal or through stalls set up by banks for this purpose. She said, "The third A is action, where you (officials) take action on whatever you have, such as small pieces of paper." She added that a united effort will ensure the successful campaign.
