We build financial assets by way of placing deposits with banks, investing in Shares/ Mutual Funds/ other financial instruments and securing our family by taking insurance policies. Sometimes, at the time of maturity these assets do not reach back to the beneficiaries or their legal heirs due to various reasons like-forgotten bank accounts, discontinued insurance policies etc. Though, Financial Institutions make all efforts to reach the beneficiaries/nominees/legal heirs at the maturity of such assets, to pass on the benefits, in some cases they are unable to do so. These funds are the rightful property of depositors, their nominees, or legal heirs and can provide critical financial support in times of need, such as medical emergencies, educational expenses or the fulfillment of personal financial goals. There are established procedures including grievance redressal mechanism to facilitate easy process of settlement for such unclaimed money from different financial institutions. Summary of unclaimed financial assets To know the details of Frequently Asked Questions and Standard Operating Procedures to claim unclaimed financial assets - Deposits, Dividents and Shares, Insurance, Pension, etc, click here. Source : Reserve Bank of India