SC To Hear Plea For Centralised Financial Assets Portal

2025-10-06 07:03:57

(MENAFN- Kashmir Observer)
File Photo Of Supreme Court Of India

New Delhi – The Supreme Court on Monday sought responses from the Reserve Bank of India (RBI) and others on a plea seeking directions to establish a centralised portal for accessing a comprehensive list of all financial assets, whether active, inactive, dormant or inoperative, held across entities.

A bench of Justices Vikram Nath and Sandeep Mehta agreed to hear the plea and issued notices to the RBI, the Securities and Exchange Board of India (SEBI), the Centre and others, seeking their responses to the petition, and posted the matter for hearing after four weeks.

The petitioner's counsel told the court that the matter relates to small investors or depositors.

“As on today, it is Rs 3.5 lakh crore of money,” the counsel said, adding that the amount was not given back to the rightful investors.

The counsel told the bench that they had first approached a high court on the issue.

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