Nirmala Sitharaman launches ‘Aapki Punji, Aapka Adhikar’ nationwide campaign on unclaimed financial assets | Image: ANI
Gandhinagar: On Saturday, Finance Minister Nirmala Sitharaman inaugurated a nationwide campaign titled ‘Aapki Punji, Aapka Adhikar’ (Your Money, Your Right) aimed at raising awareness about unclaimed financial assets. This initiative will last for three months and is designed to inform citizens about their rights regarding unclaimed funds in the financial sector.
The primary goal of this campaign is to assist individuals in locating and claiming their unclaimed deposits, insurance benefits, dividends, shares, and proceeds from mutual funds. This initiative comes as a response to the persistent issue of unclaimed financial assets that many citizens are unaware of.
To address the complexities surrounding unclaimed assets, the campaign will provide citizens with on-the-spot assistance, demonstrations of digital tools, and comprehensive support to navigate the claims process. During the launch event, Sitharaman presented cheques and claim orders to several individuals who successfully retrieved their unclaimed funds, showcasing the campaign’s immediate impact.
In her address, the Finance Minister called upon attendees to act as ambassadors for the campaign. “I urge each one of you to help spread the word about this initiative, reach out to those you know who may have unclaimed financial assets, and guide them to register on the portal to reclaim what belongs to them,” she stated emphatically.
Sitharaman elaborated on the campaign’s framework, emphasizing the importance of achieving three fundamental “A”s – Awareness, Access, and Action. “By ensuring that these three components are addressed, individuals can claim the funds that are securely held for them, provided they have the proper documentation,” she clarified.
Reflecting on Prime Minister Narendra Modi’s encouragement to connect directly with the public, she expressed gratitude for his guidance. “I am thankful to Prime Minister Modi for advising me to engage directly with citizens and encourage them to claim what is rightfully theirs. Following his guidance, I am pleased to announce that Gujarat is leading the charge in rolling out this campaign,” she remarked.
The Finance Minister highlighted the necessity of collective involvement from various stakeholders to maximize the campaign’s efficacy. “With coordinated efforts from the finance ministry, regulatory bodies, state governments, and local banks, we can activate the entire system to help everyone reclaim their money. This is not just our promise, but our responsibility,” she emphasized.
The launch of the campaign saw the participation of several prominent figures, including Gujarat’s Finance Minister Kanu Desai and M. Nagaraju, Secretary of the Department of Financial Services, along with senior officials from various sectors of finance.
According to an official statement, this initiative has been spearheaded by the Department of Financial Services (DFS), which operates under the Ministry of Finance and collaborates with the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Securities and Exchange Board of India (SEBI), and the Investor Education and Protection Fund Authority (IEPFA) from the Ministry of Corporate Affairs.
The statement further indicated that the government is dedicated to ensuring that every rupee saved by citizens is rightfully recoverable by them or their designated heirs and nominees.
The campaign aims to foster active citizen engagement, promote awareness, and enhance financial inclusion across households. By empowering individuals with clear instructions on how to trace and claim their rightful assets, supported by Standard Operating Procedures (SOPs) and Frequently Asked Questions (FAQs) from relevant fund regulators, the process is designed to be straightforward and transparent.
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