About ‘Your Money, Your Right’ Movement:
- It was launched by the central government in 2025.
- It is an initiative aimed at enabling people to reclaim their unclaimed deposits, insurance proceeds, dividends, and other financial assets.
- The effort brings together government agencies, regulators, banks, and financial institutions to identify and return long-forgotten funds.
- The deposits in accounts which are not operated for a period of 10 years are classified as unclaimed deposits.
- Under the initiative, individuals need to verify if their close family members or relatives have unclaimed deposits, insurance proceeds, mutual-fund payouts, or dividends.
- To facilitate this, the government has created dedicated portals as follows:
- Reserve Bank of India (RBI): UDGAM Portal for unclaimed bank deposits & balances.
- Insurance Regulatory and Development Authority of India (IRDAI): Bima Bharosa Portal for unclaimed insurance policy proceeds.
- Securities and Exchange Board of India (SEBI): MITRA Portal for unclaimed amounts in mutual funds.
- Ministry of Corporate Affairs: IEPFA Portal for unpaid dividends and unclaimed shares.
- Facilitation camps are being organised in districts across both rural and urban regions of the country.
- On the national level, the campaign is coordinated by the Department of Financial Services (DFS), Ministry of Finance.
