Lakhs of people in the country have got their money stuck in the system for years, sometimes in old mutual fund accounts, forgotten dividends, bank deposits, or even in insurance.
According to details recently shared by Prime Minister Narendra Modi in a social media post, over Rs 1 lakh crore of unclaimed funds of Indian citizens are lying idle in various financial institutions in the country.
Indian banks hold around Rs 78,000 crore of unclaimed money, insurance companies have nearly Rs 14,000 crore lying unclaimed, mutual fund companies have around Rs 3,000 crore and dividends worth Rs 9,000 crore are also unclaimed. These data have been shared through the PM’s LinkedIn post.
To find the rightful owners of these funds, the Centre has launched a nationwide campaign titled “आपकी पूँजी, आपका अधिकार — Your Money, Your Right” to facilitate the settlement of unclaimed financial assets, including bank deposits, insurance, dividends, shares, mutual fund and pension, to their legitimate claimants.
Facilitation camps have been organised in 477 districts across rural and urban India. The emphasis has been to cover remote areas.
In this story, we will explain the process of tracing and claiming these funds. The government has launched transparent and dedicated portals to facilitate tracing and withdrawal of these unclaimed funds.
Portals to trace unclaimed mutual funds and dividends
Securities and Exchange Board of India (SEBI) – MITRA Portal for unclaimed amounts in mutual funds: https://app.mfcentral.com/
Ministry of Corporate Affairs, IEPFA Portal for Unpaid dividends & unclaimed shares: https://www.iepf.gov.in/
Two more portals facilitate tracing and withdrawal of funds from unclaimed bank deposits
Reserve Bank of India (RBI) – UDGAM Portal for unclaimed bank deposits & balances: https://udgam.rbi.org.in/unclaimed-deposits/
Insurance Regulatory and Development Authority of India (IRDAI) – Bima Bharosa Portal for unclaimed insurance policy proceeds: https://bimabharosa.irdai.gov.in/
Let’s discuss in detail about unclaimed money in mutual funds and dividends, and how one can claim their or their family’s lost funds.
Unclaimed funds in mutual funds stand at around Rs 3,000 crore. In case of dividends, around Rs 9,000 crore is lying unclaimed with the Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs.
In this context, the Centre has launched a major campaign to raise awareness — “Your Money, Your Right”
PM Modi’s message is clear: “Take your rightful money. This is your family’s hard-earned money. The time has come to get it back.”
Reasons why money got stuck in mutual funds and dividends
According to SEBI and AMFI, the main reasons for the increase in unclaimed funds are: Wrong or outdated bank account, changed address, KYC incomplete and email/mobile switched off, nominee not informed after investor’s death, and family unaware of any investment.
When dividends or redemptions sent to mutual funds do not reach the investor, the amount goes into the Unclaimed Dividend and Redemption Scheme (UDRS), where it is invested safely.
MITRA and MF Central — How to find your mutual fund money
SEBI has made this process much easier for investors by introducing MITRA.
Where to search?
MF Central — http://www.mfcentral.com
MITRA (Mutual Fund Investment Tracing & Retrieval Assistant)
AMC Websites
KFinTech / CAMS Website
Consolidated Account Statement (CAS)
You can search by using PAN, Mobile, Email, Bank Account and Name.
What does MITRA do?
Finds inactive folios
It shows unclaimed dividends and redemptions and provides information on investments that the family was unaware of.
According to SEBI, this platform is designed to reconnect investors with their forgotten assets.
How to claim unclaimed amount in mutual funds? (simple steps)
- Download the Claim Form
Get the ‘Unclaimed Amount Claim Form’ from the AMC’s website.
- Fill out and submit the form
The form must be submitted to the RTA or AMC office.
- Document Verification
Your KYC, bank records, and folio are verified.
- How is the payment received?
The amount is credited to your bank account within 2–5 days via UDRS.
Don’t forget the 3-year rule:
Claim within 3 years: Principal amount + appreciation
After 3 years: Appreciation goes to the Investor Education Fund
Dividends and old shares
Sometimes, dividends sent by companies are returned due to an old address or incorrect bank details. Such amounts and old shares are deposited in IEPFA.
Where to check?
IEPFA Portal — https://www.iepf.gov.in/
How to claim?
Fill out the IEPF-5 form
Upload documents
Amount or shares are returned after company verification
Digital helpdesks and regional language guides available
SOPs and FAQs simplify the process
Rs 2,000 crore has been refunded to individuals so far
Final message: Check your mutual fund, dividend, and all financial accounts today
People often think that small amounts don’t matter—but sometimes those small amounts can become millions over the years.
It’s not just money, it’s your family’s legacy.
Take 10 minutes today and check:
MF Central / MITRA
IEPFA
UDGAM
Bima Bharosa
It could be your money — the one you’ve forgotten.