BANKING & FINANCE
Banking Affairs
RBI and Sector Regulators Strengthen Unclaimed Financial Assets Framework
RBI, SEBI, and IRDAI have jointly enhanced frameworks to help citizens claim nearly ₹73,241 crore in unclaimed bank deposits, insurance, and mutual funds.
As of February 2026, Public Sector Banks have transferred ₹60,518 crore of unclaimed funds to the RBI's DEA (Depositor Education and Awareness) Fund.
A new incentive scheme effective from October 2025 offers a payout of 5%–7.5% of the unclaimed amount for successful settlements.
The RBI's UDGAM portal and SEBI's MITRA platform are the primary digital tools for tracing these forgotten assets.
Exam Perspective: The focus on 'Your Money, Your Right' highlights financial consumer protection and transparency.
As of February 2026, Public Sector Banks have transferred ₹60,518 crore of unclaimed funds to the RBI's DEA (Depositor Education and Awareness) Fund.
A new incentive scheme effective from October 2025 offers a payout of 5%–7.5% of the unclaimed amount for successful settlements.
The RBI's UDGAM portal and SEBI's MITRA platform are the primary digital tools for tracing these forgotten assets.
Exam Perspective: The focus on 'Your Money, Your Right' highlights financial consumer protection and transparency.
Key Facts / Static GK
DEA Fund: Established under the Banking Laws (Amendment) Act, 2012
UDGAM Portal Full Form: Unclaimed Deposits – Gateway to Access InforMation
IRDAI Chairperson: Debasish Panda
UDGAM Portal Full Form: Unclaimed Deposits – Gateway to Access InforMation
IRDAI Chairperson: Debasish Panda
Practice Quiz — 25 March 2026
Q1. Which organization developed the 'Real-time Internal Audit Portal' launched by the Ministry of Rural Development?
Answer: (B) National Informatics Centre (NIC) — The Real-time Internal Audit Portal was developed by the National Informatics Centre (NIC) under the Ministry of Electronics and Information Technology (MeitY).
Q2. The Lipulekh Pass, which is set to resume border trade in 2026, connects India with which of the following regions?
Answer: (B) Tibet (China) — The Lipulekh Pass is a historic route connecting the Pithoragarh district of Uttarakhand, India, with Tibet (China).
Q3. What is the new minimum investment requirement for Social Impact Funds (SIFs) as per the SEBI 213th Board Meeting reforms?
Answer: (D) ₹1,000 — SEBI reduced the minimum investment threshold for Social Impact Funds (SIFs) from ₹2 lakh to ₹1,000 to make them accessible to retail investors.
Q4. Under the DEA Fund Scheme 2014, after how many years of inactivity must a bank transfer the credit balance to the RBI?
Answer: (C) 10 years — Under the DEA Fund Scheme 2014, banks are required to transfer credit balances in accounts that have been inactive for 10 years or more to the DEA Fund.
Q5. According to the National Generation Adequacy Plan, what is India's projected total power capacity by the year 2035–36?
Answer: (C) 1,121 GW — The plan projects that India's installed power generation capacity will increase to 1,121 Gigawatt (GW) by the year 2035-36.
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