Does your family know what you own?

In many households, one person knows where the money is.

They know which bank holds the fixed deposit, which email receives the mutual fund statement, where the property papers are kept, and whether the locker key is in the cupboard or the other cupboard. Their partner may know the broad numbers. They may not know enough to find the assets without help.

That arrangement can work for decades. Then the person holding the map becomes ill, loses access to a phone, or dies. The family is left searching through inboxes, drawers and old messages for evidence of what exists.

₹86,917 crore that somebody stopped tracking

Banks had transferred ₹86,917.08 crore in unclaimed deposits to the Reserve Bank of India’s Depositor Education and Awareness Fund as of 30 June 2026, according to information placed before Parliament. By that date, the RBI had reimbursed banks ₹17,414.68 crore for money returned to claimants.

A bank deposit generally reaches the fund after it has remained unclaimed for ten years. Transfer to the fund does not extinguish the owner’s claim. The depositor or legal heirs can still approach the bank, and the RBI says there is no prescribed time limit for claiming the money.

The ₹86,917 crore figure is not a count of families caught unprepared. Accounts become unclaimed for several reasons: people move, contact details become stale, fixed deposits mature unnoticed, and old accounts are forgotten. But it shows what happens at scale when ownership records and family knowledge fall out of step.

This extends beyond bank accounts. In March 2026, the government reported another ₹8,973.89 crore in unclaimed insurance proceeds and ₹3,749.34 crore in unclaimed mutual fund amounts. It has since created a common landing portal connecting the search systems for bank deposits, insurance, mutual funds, shares and dividends.

The search tools exist because the assets are scattered.

Nomination is necessary, but it is not a map

A nominee can make a claim easier. For bank deposits, the RBI requires banks to settle a valid nominee’s claim within 15 days after receiving the required documents and proof of death. SEBI has also revised the nomination and transmission rules for mutual fund folios and demat accounts.

But a nominee cannot claim an asset they do not know exists.

A nomination registered on one bank account says nothing about another account, an old mutual fund folio, an insurance policy, EPF, a locker or physical property. Nomination rules also differ by asset. A bank nominee may receive money as a trustee for the legal heirs; nomination does not necessarily determine the final inheritance. A will and the applicable succession law still matter.

Nomination is one field on the map. It is not the map itself.

Ordinary nomination also does not automatically give someone control while the owner is alive but unable to operate an account. SEBI now allows an investor to specifically empower a nominee to operate a demat account or mutual fund folio during physical incapacity, subject to its rules. Bank accounts and other assets may need separate mandates or legal arrangements.

A household should plan for both situations: temporary incapacity and death.

Build an index, not a vault

A household money map should not contain passwords, PINs or card numbers. It should tell a trusted person what exists and where the formal records are kept.

For each asset or liability, record:

• The institution and type of asset
• The holder or joint holders
• A masked account, folio or policy number
• The approximate value or latest statement date
• Whether a nominee is registered
• Where the statement, deed or certificate can be found
• The adviser, CA or branch to contact, if relevant
• The date on which the entry was last checked

Cover the obvious categories first: bank accounts and fixed deposits, mutual funds, demat accounts, EPF, PPF and NPS, insurance, property, lockers, loans and guarantees. Add private investments, foreign accounts, ESOPs, RSUs and digital assets where they exist.

The map should also say where the will is kept and whom the family should call. It should not contain the will’s contents or replace legal advice.

Give one other person a route in

A list that nobody can find is another hidden asset.

Choose one trusted adult who knows the map exists and where the current copy is stored. That person does not need unrestricted access to every account. They need enough information to identify the institutions, locate the records and begin the proper process.

Keep the list somewhere protected but reachable: an encrypted file with a documented recovery method, a sealed physical copy, or a secure service designed for household records. Do not leave an unencrypted spreadsheet of account details in a shared drive.

Review the map once a year and after any large change: a new job, marriage, separation, property purchase, inheritance, account closure or move overseas. Check nominations during the same review. EPFO, for example, warns that a nomination made before marriage can become invalid and must be replaced.

Search before you assume the money is gone

Families trying to reconstruct an incomplete financial picture now have several official starting points:

• The RBI’s UDGAM portal searches unclaimed deposits across participating banks. Claims are filed with the bank, not the RBI.
• MITRA, available through MF Central, helps locate inactive and unclaimed mutual fund folios.
• Bima Bharosa directs users towards unclaimed insurance proceeds.
• The government’s Common Landing Portal links the search facilities for bank deposits, insurance, mutual funds, shares and dividends.

These portals help recover assets after the connection has broken. A household map is the simpler intervention: keep the connection from breaking.

Where Reva fits

Reva brings the household’s financial records into one view. It can read CAMS and KFintech mutual fund statements, supported bank statement PDFs and Zerodha holdings files, checking totals before adding them. Property, gold, fixed deposits, EPF, PPF, NPS and other assets can be added manually.

A household can include a partner and keep nominees, insurance and the location of a will in the same financial picture. The underlying statement and its password remain in the browser during upload.

The useful outcome is not a larger net-worth number. It is a current record that another person in the household knows exists.

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Questions

What is a household money map?

A secure index of the institutions and assets your household uses, plus nominee status and where the formal records are kept. It should not contain passwords, PINs or full card numbers.

Does nomination decide who inherits an asset?

Not always. Nomination can simplify a claim or transmission, but the nominee’s legal role varies by asset and applicable succession law. A will and legal advice may still be needed.

Can unclaimed bank deposits still be recovered after ten years?

Yes. Transfer to the RBI’s DEA Fund does not end the owner’s claim. The depositor or legal heirs claim through the relevant bank.

Where can a family search for forgotten financial assets?

RBI UDGAM covers participating banks, MITRA helps trace mutual fund folios, Bima Bharosa covers insurance, and the government Common Landing Portal links several search systems.

Sources

1. RBI: UDGAM Portal FAQ
2. RBI: Depositor Education and Awareness Fund FAQ
3. Ministry of Finance: Unclaimed assets and claims returned, 24 March 2026
4. Ministry of Finance: Common Landing Portal, 29 May 2026
5. Business Standard: Parliamentary unclaimed-deposit figure, 11 August 2026
6. SEBI: Modified nomination rules, 29 May 2026
7. EPFO: E-nomination guidance

Compound is analysis, not investment advice. Reva Money is not a SEBI-registered investment adviser.