As per the Provision of the act any unclaimed Amt is transfered to government after specified years of unclaimed.
Find Your Lost Investments
Total of 82,025/- crore estimated investor wealth iding in unclaimed accounts,
- 18,381/- crore lying in unclaimed bank accounts (in dormant saving account+idling in matured fixed and other desposit)
- 15,167/- crore lying unclaimed with life insurers (LIC alone has more than 7,000 crore of unclaimed investors funds.)
- 17,880/- crore lying in inactive mutual fund folios.
- 4,100/- crore of unclaimed dividend lying in IEPF
- 26,497/- crore lying in unclaimed provident fund accounts Tips to avoid Unclaimed Investments
- Keep family informed about finances
- Always have nominee
- Write a will today
- Keep updating details whenever there is changes.
Good news trend.