Indian Finance Minister Nirmala Sitharaman has called on banks, financial institutions, mutual funds, and stock markets to encourage their customers to nominate heirs for their financial assets. She stressed the importance of ensuring that customers provide the names and addresses of their heirs, which can help reduce the quantum of unclaimed money. Currently, the banking system alone holds over Rs 35,000 crore ($4.7 billion) in unclaimed deposits, with the total unclaimed money estimated to be over Rs 1 trillion ($13.5 billion). Sitharaman also emphasized the need to build a responsible financial ecosystem and invest in cybersecurity to enhance trust in the financial sector.