In Brief
- ₹1 lakh crore stuck in unclaimed shares and dividends in government fund.
- Complex bureaucracy delayed claims, affecting millions of citizens.
- Process overhaul increased monthly approvals from 900 to over 14,500.
- Fix involved reducing steps and portals from 25 and 3 respectively.
According to Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister, approximately ₹1 lakh crore of unclaimed shares and dividends were held up in a government fund for years.
This backlog was primarily caused by a convoluted bureaucratic process involving 25 steps across three different portals, which significantly delayed citizens from retrieving their rightful money.
Sanyal revealed that a single major reform in the process cut the approval wait times considerably. The overhaul transformed monthly approvals from about 900 to more than 14,500, drastically improving fund disbursement efficiency.
This case highlights the impact of bureaucratic complexity on public funds and the benefits of administrative reforms to expedite citizen services.
