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Unclaimed investments in India:
Reclaim your lost money today!
Discover how millions of rupees in shares, mutual
funds, and more are waiting to be claimed.
Hey FinFam, today let’s talk about something that might surprise you – unclaimed
investments! Did you know that over Rs 25,000 crore worth of shares are lying unclaimed
in India as of March 2023?
That’s a lot of money just waiting to be reclaimed!
Unclaimed investments: A hidden challenge
Ever wondered why investments remain unclaimed?
Here are some top reasons why there is a huge heap of unclaimed money!
Lack of Awareness
Address Changes
Many of us aren’t aware of the
importance of keeping our contact
details updated.
Moving homes or changing contact
details can lead to lost connections.
Inoperative Accounts
Succession Issues
Forgotten bank or Demat accounts
linked to investments can
remain unclaimed.
Not planning for the future or
informing nominees can leave
investments in limbo.
Physical Certificates
Holding onto old physical share certificates?
They may be preventing you from claiming your dividends.
Unclaimed investments by category
Mutual Funds
Insurance
Over Rs 35,000 crore lies unclaimed
in mutual funds alone. It’s time to
check if any of it belongs to you.
There’s a significant amount unclaimed
in life insurance and endowment
benefits, waiting to be rediscovered.
Provident Fund
Bank Deposits
An estimated Rs 48,000 crore
lies unclaimed with the EPFO.
Is any of it yours?
Unclaimed bank deposits in India
exceed Rs 62,000 crore. Your money
might be sitting in an inactive account.
UNCLAIMED INVESTMENTS
Category
Amount (₹ Crore)
Stocks
₹25,000/-
Mutual Funds
₹35,000/-
Life Insurance (with LIC)
₹21,500/-
Employees Provident Fund
₹48,000/-
Bank Deposits
₹63,000/-
Source: IEPF, AMFI, LIC, EPFO and RBI
Recovery process
If you've found yourself wondering how to reclaim your unclaimed investments, we’ve got
you covered! Here’s a step-by-step guide to get back what’s rightfully yours:
Identify your unclaimed assets
Gather your documents
First, identify which investments
are unclaimed, such as shares,
mutual funds, provident funds,
and insurance policies.
Collect and verify documents like
identity proof, address proof,
and investment statements to
prove ownership.
Contact the relevant authorities
Submit your claim
Contact relevant authorities or
companies based on your investment
type, such as RoC for shares,
mutual fund houses, insurance
companies, or EPFO for
provident funds.
Once you've gathered your documents
and contacted the authorities, submit
your claim by filling out forms,
providing copies, and verifying them.
Let’s face it, the process can be a bit of a headache. But don’t worry, there are firms out
there ready to help you recover your unclaimed investments. They'll identify your assets,
collect and verify your documents, and manage the claim process for you!
Takeaway:
Don’t let your money go unclaimed. Take action today to reclaim what’s rightfully yours.
Check for unclaimed investments and give your finances the attention they deserve.