SRINAGAR: Jammu and Kashmir continues to sit on unclaimed financial assets worth Rs 465.79 crore spread across 17,20,878 inactive accounts, according to figures shared during the Bankers’ Committee’s mega Settlement-cum-Awareness Camps held simultaneously in Jammu and Srinagar. Officials said the outreach, part of the nationwide “Aapki Poonji, Aapka Adhikar” campaign, has been launched to ensure that rightful claimants are able to access their money through a simple and time-bound process.
The camps, organised under the national initiative of the Department of Financial Services, drew a significant public response owing to extensive awareness efforts by banks and participating institutions. Officials said that Rs 1.62 crore, including Rs 5 lakh in unclaimed insurance proceeds, was settled on the spot after due verification at the two venues.
At the Jammu camp, RBI Regional Director Chandra Shekhar Azad, who presided over the event, said the government has said the campaign rests on a three-pillar strategy of Awareness, Accessibility and Action to help citizens reclaim dormant savings. He noted that Jammu district alone accounted for 2,94,676 unclaimed accounts involving Rs 107.27 crore. He urged banks to make proactive efforts to trace depositors or their rightful heirs. He also informed attendees about the RBI’s new incentive scheme titled “Scheme for Facilitating Accelerated Pay-out-Inoperative Accounts and Unclaimed Deposits”, under which banks will receive a differential pay-out of up to 7.5 per cent of the balance amount, or Rs 25,000, whichever is less, for reactivating such accounts between October 1, 2025, and September 30, 2026.
RBI’s DGM Vibha Gupta said unclaimed amounts extend beyond bank deposits and include proceeds from insurance, mutual funds, dividends and other financial instruments. J&K Bank’s General Manager Ashok Gupta said the government has said the three-month nationwide drive is an opportunity to reconnect citizens with their financial assets, adding that the bank is prepared to assist claimants through swift verification and settlement.
Officials held a demonstration of the RBI’s UDGAM portal, designed to help individuals trace unclaimed funds. Banks also set up stalls for on-spot support, including re-KYC, nomination services and grievance redressal.
At the Srinagar camp held at Khalifapora, AGM RBI Anoop Kumar Sharma said the initiative aims to build clarity, access and confidence among citizens, and emphasised that procedures are simple and accessible at the grassroots. LDM Srinagar Nelofer Jan said awareness is the first step towards empowerment and urged residents to spread information so that more families can benefit. J&K Bank’s financial literacy team briefed participants on the ongoing campaign and the use of the UDGAM portal. Insurance representatives also guided attendees on claiming pending insurance amounts.
The event concluded with thanks to participating institutions, with officials reaffirming that the government has said it remains committed to improving financial literacy, inclusion and borrower awareness across the UT.
