• Source:JND
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Aapki Punji Aapka Adhikar Scheme: Prime Minister Narendra Modi on Wednesday urged Indians to participate in the 'Your Money, Your Right' movement. This initiative, launched by the Centre on October 4, is designed to help citizens reclaim unclaimed financial assets, including bank deposits, insurance, dividends, shares, mutual funds and pensions. 

In a post on LinkedIn, PM Modi shared key facts about the unclaimed money in India. The figures shared include:

- Indian banks are holding Rs 78,000 crore in unclaimed deposits.

- Insurance companies have Rs 14,000 crore in unclaimed proceeds.

- Mutual fund companies hold around Rs 3,000 crore, while Rs 9,000 crore in dividends remain unclaimed.

“These assets represent the hard-earned savings and investments of countless families,” PM Modi wrote, adding that “Here is a chance to convert a forgotten financial asset into a new opportunity. Take part in the ‘Your Money, Your Right’ movement!”

Your Money, Your Right: Dedicated Portals To Reclaim Unclaimed Assets

To ensure that every citizen can reclaim their unclaimed assets, the government established dedicated online portals for the 'Your Money, Your Right' initiative. These platforms are managed by key financial institutions to facilitate the easy recovery of unclaimed financial assets, including:

- Unclaimed Deposits: Handled via a portal created by the Reserve Bank of India (RBI).

- Insurance Proceeds: Managed through a platform overseen by the Insurance Regulatory and Development Authority of India (IRDAI).

- Mutual Fund Amounts and Unpaid Dividends: Processed via portals established by the Securities and Exchange Board of India (SEBI) and the Ministry of Corporate Affairs (MCA), respectively, NDTV reported. 

Apart from the dedicated portals, facilitation camps were organised in 477 districts, including remote rural areas, across India. "Through the coordinated efforts of all stakeholders, notably the government, regulatory bodies, banks and other financial institutions, nearly Rs 2,000 crore has already been returned to the rightful owners," PM Modi wrote.

PM Modi has advised citizens to take immediate action by checking whether they or their families have any unclaimed financial assets, such as deposits, insurance proceeds, dividends, or investments. He has also asked citizens to visit the relevant portals or make use of facilitation camps organised in individual districts to reclaim their assets.

“Act now to claim what is yours and convert a forgotten financial asset into a new opportunity. Your money is yours. Let us make sure that it finds its way back to you. Together, let us build a transparent, financially empowered and inclusive India,” PM Modi added. Enter your paragraph text here.

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