Inoperative Bank Account
If a bank account remains inoperative for a period of 10 years, the money lying therein is transferred to Depositors Education and Awareness Fund (DEAF). Inoperative accounts include fixed deposits, recurring deposits, demand drafts, pay orders and unadjusted NEFT transactions. Close to Rs 18000 crores of unutilised deposits were lying with banks in calendar year 2019
Unclaimed Life Insurance monies
Crores of unclaimed Life Insurance monies are lying with Insurance Companies. In July 2017, Insurance Regulatory and Development Authority (IRDA) directed Insurers to transfer monies of Policyholders lying unclaimed for a period of more than 10 years to Senior Citizens Welfare Fund. IRDA also directed Insurers to provide a search facility on their website to enable policyholders or their beneficiaries or dependents to find out whether any unclaimed amounts due to them are lying
Hidden Assets
Thousands of Crores valued securities, dividends, interests, refunds etc are lying with Investor Education Protect Fund since Beneficiaries thereof are either not aware thereabout for various reasons including that they did not update their contact details with Institutions concerned or that their Ancestors did not share details of investments made with them.
In some cases, even when Beneficiaries know of such hidden wealth, they are not able to claim the same as procedure involved is extremely tedious and cumbersome ie beyond understanding of common people.
Do not worry, I will help you claim your said hidden wealth. Contact me with whatever details you have and I will provide hand holding Act fast, Act today, Claim your Hidden Wealth, Become Rich
Senior Citizens Welfare Fund
Unclaimed money lying under Small Savings Schemes eg. Post Office Savings accounts, Post Office Recurring Deposit Accounts, Post Office Time Deposit Accounts, Post Office Monthly Income Accounts, Senior Citizens Savings Scheme Accounts, Kisan Vikas Patras etc, Employees Provident Fund, Public Provident Fund Schemes, Life and Non-life Insurance Schemes or Policies maintained by Insurance Companies and accounts of Coal Mines Provident Fund, is transferred to Senior Citizens Welfare Fund. In December, 2019, amount available in Senior Citizens Welfare Fund was more than Rs 400 crores
Do you Know
Do you know shares of listed companies can not be transferred on and from 1st April 2019 unless held electronically. In case you are still holding shares in physical mode and having difficulties in getting those dematerialised, DO NOT WORRY – will guide you.
Do you Know
No charges are payable to a Depository Participant for transfer of securities on account of operation of law including merger, demerger, arrangement etc. In case you have been billed such charges, please do not worry – will help you recover the same.
Do you Know
When an individual dies either intestate ie without will or naming a nominee, legal heirs are to go through long drawn tedious process for claiming monies of the deceased. Hence, it is in the interest of individual(s) that assets including securities are held in joint names or nominee is got registered in respect thereof. In case this is of any interest to you, CONTACT ME
