MANGALURU: An estimated Rs 3,400 crore has been lying unclaimed in bank accounts across Karnataka for more than a decade, officials revealed at the District Consultative Committee (DCC) and District Level Review Committee (DLRC) meeting held here on Wednesday.
Addressing the meeting, Arun Kumar, Assistant General Manager, RBI Bengaluru Regional Office, said the Reserve Bank of India has been implementing a special statewide campaign under the Depositor Education and Awareness Fund (DEAF) for the past three months to reunite unclaimed deposits with their rightful owners. The campaign will continue until December 31, though depositors can approach banks to claim their money even after the deadline.
Kumar noted that nearly 80% of such accounts hold balances below Rs 10,000. Many of them are decades old, lack updated mobile numbers or KYC details, and in several cases, the original account holders are no longer alive. Updating mobile numbers and customer details has been taken up as the first step in the campaign. The unclaimed deposits include amounts in savings, fixed deposit and current accounts. Customers can check for unclaimed deposits through the UDGAM portal.
Dakshina Kannada Lead Bank District Chief Manager Kavitha Shetty said around Rs 140 crore remains unclaimed in nearly six lakh bank accounts in the district alone. So far, Rs 20 crore has been returned to depositors of 830 accounts under the DEAF scheme.
Dakshina Kannada MP Capt Brijesh Chowta stressed the need for a robust awareness drive, urging banks to proactively inform customers through pamphlets and direct outreach. He also expressed concern over delays in implementing welfare schemes and called for a clear action plan to strengthen delivery of flagship schemes such as PMJDY, PMJJBY, PMSBY and APY.