Hundreds sensitized and assisted in tracing and claiming their unclaimed financial assets
STATE TIMES NEWS
SRINAGAR: J&K UTLBC on Friday organised Mega Facilitation Camps in the districts of Ramban, Kishtwar, Ganderbal and Shopian as part of the three-month nationwide awareness-cum-disbursement campaign “Aapki Poonji, Aapka Adhikar – Your Money, Your Right”, to help citizens trace and claim their unclaimed financial assets – -including dormant bank deposits, matured insurance proceeds, mutual fund units, dividends, unclaimed shares and other inactive financial instruments – that may have accumulated over the years. The campaign was launched by the Department of Financial Services (DFS), Ministry of Finance, Government of India, in coordination with the Reserve Bank of India (RBI) and other financial-sector regulators.
Senior officials from RBI, insurance companies, banks, district administrations, SEBI, PFRDA, IEPFA and other financial institutions participated from across districts, ensuring coordinated service delivery and wide outreach to the public.
The Lead District Office (Ramban) organized a district-level Mega Facilitation Camp at the Community Hall near Raghunath Temple, which was presided over by Deputy Commissioner (Ramban) Mohammad Alyas Khan, in the presence of Lead District Manager Davinder Singh, DDC Member Renuka Katoch, LDO (RBI) Anil Kumar, and Director RSETI Harvinder Singh. The camp drew encouraging public participation along with officers from various banks, district administration, PRI representatives, and local residents.
The Deputy Commissioner appreciated the efforts of banking institutions in driving financial awareness and urged them to further intensify outreach initiatives. He encouraged people to keep their bank records updated, complete KYC formalities, and maintain regular account activity.
Participants were briefed about the RBI’s UDGAM portal, which enables citizens to trace unclaimed deposits across banks. It was highlighted that an amount of Rs 6.15 crore lies as unclaimed deposits in 30899 accounts in Ramban district. Awareness was also created about key social security schemes including PMSBY, PMJJBY, and APY.
A major highlight of the programme was the distribution of cheques amounting to Rs 15.43 lakh to 13 beneficiaries, handed over by the Deputy Commissioner after successful claim settlements.
A district-level Mega Facilitation Camp was organised by the Lead Bank Office (Kishtwar) at the Conference Hall of the New DC Office Complex. The camp witnessed a good public participation.
Deputy Commissioner (Kishtwar) Pankaj Kumar Sharma – who was also the chief guest – presided over the event in the presence of RBI LDO Amandeep Singh, LIC Officer Sandeep Sen, J&K Bank Cluster Head Khurshid Akhoon, SBI Chief Manager (Kishtwar Main Branch) Sanjeev Bagati, PNB Branch Manager Harsimrandeep Singh, J&K Grameen Bank Branch Manager Nikhil, and officials from SBI Life and PNB MetLife. Branch Heads of J&K Bank branches at Kishtwar, Hidyal, TP Branch, Nagseni and Dulhasti also attended.
The Deputy Commissioner underscored the importance of close coordination between banks and the district administration to enhance public awareness and expedite the settlement of unclaimed financial assets.
Addressing the participants, RBI LDO Amandeep Singh elaborated on the objectives of the campaign and explained the process for claiming unclaimed amounts related to bank deposits, shares, dividends and mutual funds.
He also highlighted the role of the UDGAM portal in enabling citizens to easily trace and claim their unclaimed deposits. Informing the gathering that 30236 accounts worth Rs 8.51 crore of unclaimed funds from Kishtwar currently lie in the Depositor Education and Awareness Fund (DEAF), he urged all stakeholders to work collectively to bring down the pendency.
A key highlight of the event was the distribution of settlement cheques by the Deputy Commissioner to beneficiaries from J&K Bank, SBI and PNB. During the camp, J&K Bank successfully settled 28 cases amounting to Rs 14.34 lakh, while SBI settled 5 accounts worth Rs 5.20 lakh, and PNB concluded 18 settlements totalling Rs 35000.
Beneficiaries expressed gratitude for the Government of India’s initiative led by the Department of Financial Services (DFS).
A district-level Mega Facilitation Camp was organised by the Lead Bank Office (Ganderbal) in collaboration with financial institutions and the district administration. The event saw active participation from senior officials of the Reserve Bank of India, district administration, various banks, insurance companies such as PNB MetLife, SBI Life and LIC, civic bodies, students, and members of the general public.
The Lead District Manager (Ganderbal) Gazanfar Hussain informed the participants that Ganderbal district has 52477 unclaimed accounts worth Rs 9.52 crore and called on banks to intensify outreach to depositors and legal heirs.
Speakers from RBI and participating banks sensitised attendees about the claim process, documentation requirements, eligibility norms, and settlement procedures. A live demonstration of the RBI’s UDGAM portal enabled citizens to search unclaimed deposits transferred to the Depositor Education and Awareness (DEA) Fund, and understand the bank-wise claim workflow.
Meanwhile, cheques amounting to Rs 6.19 lakh were handed over to beneficiaries and legal heirs upon completion of verification formalities. The programme concluded with a vote of thanks.
The Lead Bank Office (Shopian) successfully conducted a Mega Facilitation Camp at CFC Zainpora that witnessed encouraging participation from residents seeking assistance in tracing and claiming their unclaimed financial assets.
The camp saw the active presence of J&K Bank’s Cluster Head (Shopian) Ab. Majid Wani, Lead District Officer (RBI) Anoop Sharma, and DDM NABARD Junaid Hakeem along with senior officials from various banks and representatives of insurance companies including LIC, PNB MetLife, and Bajaj etc. Their coordinated efforts significantly enhanced the outreach and impact of the programme.
Representatives from RBI provided on-the-spot handholding support for processing claims related to unclaimed deposits, insurance proceeds, mutual funds, dividends, shares, and other inactive financial instruments.
A major highlight of the camp was the successful settlement of five accounts amounting to Rs 11.26 lakh, offering immediate financial relief to the beneficiaries. Pertinently, District Shopian accounts for 25914 unclaimed accounts amounting to Rs 5.12 crores.
Senior officers from the District Administration, along with other dignitaries, appreciated the unified efforts of all participating institutions for promoting financial awareness and ensuring that eligible citizens receive their rightful dues.
LDM (Shopian) Farooq Ahmad Dar extended his gratitude to all stakeholders for their collaboration and reaffirmed the commitment of the Lead Bank Office Shopian to continue organising such initiatives aimed at enhancing public awareness across the district.