The petition urged the creation of a centralised digital platform. This system would allow citizens to trace and recover inactive or unclaimed financial assets. Furthermore, it would combine data from the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and Insurance Regulatory and Development Authority of India (IRDAI).

The court directed the Union of India, Ministry of Consumer Affairs, RBI, SEBI, IRDAI, National Savings Institute, Employees’ Provident Fund Organisation (EPFO), and Pension Fund Regulatory and Development Authority (PFRDA) to respond.

This portal could make it easier for citizens to check their operational and inactive holdings in one place. Moreover, it could speed up asset recovery and reduce disputes. Experts say it would also improve efficiency in banking and insurance.

Therefore, the Supreme Court’s move reflects growing demands for digital solutions in governance. Citizens and experts now await government responses to this significant proposal.

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