UPSC Prelims Practice Questions — RBI, IRDAI and SEBI Intensify Measures to Help Citizens Reclaim Unclaimed Deposits

Q1. Under the DEA Fund Scheme, a 'term deposit' is classified as an 'unclaimed deposit' under which one of the following conditions?

  • A. It is not claimed within ten years from the date of maturity
  • B. It is not operated upon within three years from the date of opening
  • C. It is not claimed within seven years from the date of maturity
  • D. It is not operated upon within five years from the date of the last transaction

Q2. Which one of the following institutions developed and launched the UDGAM portal that allows centralised searching of unclaimed deposits across multiple banks?

  • A. Reserve Bank of India
  • B. Securities and Exchange Board of India
  • C. Insurance Regulatory and Development Authority of India
  • D. Investor Education and Protection Fund Authority

Q3. The Bima Bharosa portal, used to trace unclaimed insurance policy proceeds, is maintained by which one of the following?

  • A. Insurance Regulatory and Development Authority of India
  • B. Securities and Exchange Board of India
  • C. Pension Fund Regulatory and Development Authority
  • D. Reserve Bank of India

Q4. Which one of the following unclaimed-asset tracing portals was the first to be launched, in August 2023?

  • A. UDGAM (RBI)
  • B. MITRA (SEBI)
  • C. Bima Bharosa (IRDAI)
  • D. MF Central

Q5. Consider the following categories of assets and the fund to which they are transferred. Which of the following are correctly identified as amounts transferred to the Investor Education and Protection Fund (IEPF)?

  1. Dividends remaining unpaid or unclaimed for seven years
  2. Matured deposits and debentures of companies unclaimed for seven years
  3. Application money received for allotment of securities and due for refund, unclaimed for seven years
  4. Credit balances in inoperative savings bank accounts unclaimed for ten years
  • A. 1, 2 and 3
  • B. 1 and 4
  • C. 2, 3 and 4
  • D. 1 and 2 only

Q6. As per the data cited in the March 2026 review of unclaimed financial assets, which one of the following categories had the largest outstanding value?

  • A. Unclaimed bank deposits transferred to the DEA Fund of the RBI
  • B. Unclaimed insurance proceeds lying with insurers
  • C. Unclaimed amounts in mutual funds under SEBI
  • D. Total assets restituted during the campaign

Q7. The Depositor Education and Awareness Fund, which holds the large pool of unclaimed bank deposits, is administered by which one of the following?

  • A. Reserve Bank of India
  • B. Securities and Exchange Board of India
  • C. National Bank for Agriculture and Rural Development
  • D. Investor Education and Protection Fund Authority

Q8. The campaign 'आपकी पूँजी, आपका अधिकार – Your Money, Your Right' primarily refers to which one of the following?

  • A. A nationwide drive led by the Department of Financial Services to help citizens reclaim unclaimed financial assets
  • B. A deposit-insurance scheme guaranteeing bank deposits up to ₹5 lakh per depositor
  • C. An RBI scheme to expand digital payments and financial inclusion in rural areas
  • D. A SEBI initiative to compensate retail investors defrauded in the securities market

Q9. Consider the following pairings of regulators with the class of unclaimed assets they handle under the tri-regulator reclaim framework. Which one of the pairings is NOT correctly matched?

  1. Reserve Bank of India — unclaimed bank deposits
  2. Securities and Exchange Board of India — unclaimed mutual fund folios
  3. Insurance Regulatory and Development Authority of India — unclaimed insurance proceeds
  4. Pension Fund Regulatory and Development Authority — unclaimed dividends and shares of companies
  • A. 1 and 2
  • B. 4 only
  • C. 3 and 4
  • D. 2 only