Unclaimed Shares Worth 89,000 Crore Lie in 1,671 Companies A recent study reveals that over 2.2 lakh crore rupees in unclaimed financial assets, including bank deposits, shares, insurance, EPF, and mutual funds, remain unclaimed in India. A significant portion of these assets, approximately 89,000 crore rupees, is tied up in unclaimed shares across 1,671 companies. These assets are often trapped in systems where returns are low or inaccessible due to inactive accounts, lack of investor awareness, or incomplete records. The study highlights that unclaimed shares are a major component of this issue. The Investor Education and Protection Fund Authority (IEPFA) holds shares worth 89,000 crore rupees, with a substantial portion belonging to top companies like Reliance Industries. Reliance’s unclaimed shares alone account for over 15% of the total value. These shares, though potentially lucrative, remain unclaimed due to outdated records or lack of communication with investors. Beyond shares, unclaimed bank deposits are another critical issue. The Reserve Bank of India’s Deposit Education and Awareness (DEA) fund holds over 97,545 crore rupees, a 13-fold increase since 2015. These deposits earn only 3% interest, far below inflation rates, leading to a gradual erosion of their real value. Similarly, unclaimed insurance payouts, EPF funds, and mutual fund dividends also contribute to the problem. For instance, 20,062 crore rupees in insurance claims remain unclaimed, while 10,915 crore rupees lie in inactive EPF accounts. The digitalization of financial systems has not resolved the issue but has instead expanded the scope of unclaimed assets. New asset classes like REITs, InvITs, and NCDs now add to the problem, with 764 crore rupees unclaimed in these instruments.#reliance_industries #reserve_bank_of_india #iepfa #dea_fund #epf
