RBI Reveals Rs 465 Crore Unclaimed in J&K Bank Accounts; Check Online If Any Amount Belongs to You
RBI Reveals Rs 465 Crore Unclaimed in J&K Bank Accounts; Check Online If Any Amount Belongs to You
SRINAGAR: Jammu and Kashmir is holding more than Rs 465.79 crore in unclaimed financial assets, lying idle across 17,20,878 inactive accounts, according to official figures shared during the Bankers Committee’s mega Settlement cum Awareness Camps held in Srinagar and Jammu. The outreach is part of the nationwide “Aapki Poonji, Aapka Adhikar” campaign which aims to help people recover their forgotten or abandoned deposits through a simple and time bound process.
The camps recorded a strong public response, mainly because banks and financial institutions had launched wide awareness drives before the event. Officials confirmed that Rs 1.62 crore was settled on the spot after verification, including Rs 5 lakh in unclaimed insurance payments.
At the Jammu venue, RBI Regional Director Chandra Shekhar Azad said that the national campaign is based on three goals: making people aware, making access easier and ensuring quick action. He revealed that Jammu district alone has 2,94,676 unclaimed accounts worth Rs 107.27 crore. He urged banks to actively reach out to dormant account holders or their legal heirs so that the money returns to the rightful families.
Azad also explained the RBI’s new incentive plan called the “Scheme for Facilitating Accelerated Pay out Inoperative Accounts and Unclaimed Deposits”. Under this scheme, banks will receive up to 7.5 percent of the balance money, or Rs 25,000, whichever is lower, for every old account they successfully reactivate between October 1, 2025 and September 30, 2026.
RBI DGM Vibha Gupta added that unclaimed money is not limited to bank accounts. It also includes insurance claims, mutual funds, dividends and other financial instruments that people often forget about over the years. She said a large number of families are unaware that such funds exist in their name.
J&K Bank General Manager Ashok Gupta said the three month national campaign is a chance for people to reconnect with their long pending financial assets. He said the bank has put in place an easy verification system so that settlement can be processed quickly.
During the camp, RBI officials demonstrated how to use the UDGAM portal, which is designed to help people trace unclaimed deposits across multiple banks. Stalls were also set up for re KYC, nomination updates and grievance support.
The Srinagar camp, held at Khalifapora, saw strong public participation. RBI AGM Anoop Kumar Sharma said the goal is to provide clarity and confidence to the people so they can claim what is rightfully theirs. He said the process is simple even at the local level. LDM Srinagar Nelofer Jan said awareness is the first step to empowerment and urged people to spread the word so that every family benefits.
The financial literacy teams of J&K Bank briefed participants on the importance of checking dormant accounts at least once a year. Insurance company members also helped citizens track pending insurance payouts.
The camps concluded with officials thanking all participating institutions. Authorities repeated that the government is focused on increasing financial literacy and making sure people are aware of their rights regarding unclaimed deposits across the Union Territory.
