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FSDC 29th Meeting: Push to Cut Unclaimed Financial Assets

11 June 20251 min read
BANKING & FINANCEFSDC 29thMeeting: Push toCut UnclaimedFinancial Assets11 June 2025safalsetu.com

Why in the news

At the 29th FSDC meeting, the Finance Minister pressed for dormant financial assets to reach rightful owners. The council also reviewed stability, reforms and investment strategy.

Key facts

  • Body: Financial Stability and Development Council; venue: Mumbai.
  • Directive: district-level special camps for refunds.
  • Partners: RBI, SEBI, IRDAI, PFRDA, Corporate Affairs Ministry and banks.
  • Asset types: bank deposits, dividends, shares, post office savings, insurance and pension funds.

About unclaimed assets

  • Holdings left inactive by the owner for long periods.
  • Causes: death, unreported address change, unawareness, incomplete papers.
  • Usually pass to the government after a set time, but owners or heirs can claim.
  • Digilocker helps identification and retrieval.

Exam angle

  • FSDC chair: Union Finance Minister; meeting number: 29th.

Test yourself

1. Who chaired the 29th meeting of the Financial Stability and Development Council held in Mumbai in June 2025?

The Union Finance Minister chaired the 29th FSDC meeting.

2. What did the Finance Minister direct to help return unclaimed assets to owners at the 29th FSDC meeting?

District-level special camps were directed to facilitate refunds.

3. Which digital platform was mentioned as aiding retrieval of unclaimed assets?

Digilocker was named among digital efforts.

This topic is part of Daily Current Affairs 11 June 2025 (17 topics).

All topics of the dayDay quizJune 2025

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