| Rs 492 crore remains unclaimed in J&K banks, despite a special drive | | | Early Times Report
Jammu, May 7: Nearly Rs 492 crore remains unclaimed in various banks across Jammu and Kashmir despite a special nationwide campaign launched by the Central Government to help people recover dormant deposits and forgotten accounts.
According to official figures, the highest amount of unclaimed deposits is lying with J&K Bank, where nearly Rs 331 crore remains unclaimed. This is followed by State Bank of India with around Rs 77 crore and the Punjab National Bank with nearly Rs 44 crore in unclaimed deposits.
Officials said the money is lying in savings accounts, fixed deposits, pensions, dividends, and other financial instruments that have remained inactive or unclaimed for years.
To facilitate the return of such deposits, the Central Government had launched a nationwide three-month campaign titled “Your Capital, Your Rights” from October 1 to December 31, 2025. The initiative involved the Reserve Bank of India (RBI), SEBI, insurance regulators, and several financial institutions.
Under the campaign, banks were directed to actively trace account holders and their families through phone calls, messages, awareness drives, and special camps so that dormant deposits could be returned to their rightful owners.
Official data reveals that a total of Rs 507.17 crore lying in nearly 17.89 lakh dormant accounts was identified across Jammu and Kashmir during the campaign period. However, the response from the public remained poor, and banks could refund only ₹15.03 crore, leaving approximately Rs 492 crore still unclaimed.
Banking officials said many people either remain unaware of old accounts or fail to complete the formalities required for claiming the deposits. In several cases, the families of deceased account holders are unaware of the existence of such accounts, particularly where no nominee was registered.
People can also search for such deposits through the RBI’s UDGAM portal, where users can check details of unclaimed accounts by registering with their mobile number and entering basic bank-related information. Once the details are traced, the claimant can approach the respective bank with the required documents to recover the funds. |
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