₹2 Lakh Crore Unclaimed: Why Indians Are Losing Their Hard-Earned Money
India is facing a silent financial crisis - over ₹2 lakh crore remains unclaimed in banks, insurance, and mutual funds. Experts say the root cause is simple: lack of communication within families.
Chartered Accountant Sreejith Kuniyil points out that many individuals invest money but fail to inform their spouses or children. As a result, when they pass away, their families are left unaware of these assets.
If deposits remain unclaimed for over 10 years, or insurance and PF for 7 years, the government takes control of the funds. Shockingly, banks often don’t have nominee contact details, making it harder for families to claim money.
Financial experts stress that succession planning is not optional - it’s essential. Without it, families risk losing both wealth and peace.
