Banks in the Dakshina Kannada district are currently safeguarding a staggering sum of Rs 140 crore in unclaimed deposits, officials revealed at a key meeting. In a positive development, a significant portion of this amount—Rs 20 crore—has been successfully returned to its rightful owners through a special initiative.
District Review Highlights Unclaimed Wealth Challenge
The figures were disclosed by district lead bank manager Kavitha N Shetty during the district-level review committee (DLRC) and banking development committee meeting at the Zilla Panchayat Hall. She highlighted the success of the 'Your Money, Your Right' campaign in facilitating the return of Rs 20 crore. Chairing the meeting, Dakshina Kannada MP Capt Brijesh Chowta emphasized the urgent need for greater public awareness regarding these dormant funds. He instructed bank managers to proactively contact customers within their areas to resolve pending claims and educate account holders.
State-Wide Issue and Regulatory Framework
The scale of the problem extends far beyond the district. RBI AGM Arun Kumar informed the committee that the total value of unclaimed deposits across the entire state of Karnataka stands at a massive Rs 3,400 crore. A state-level review was conducted in the first week of December to address this. Kumar explained that a large majority of these inactive accounts, nearly 80%, contain balances below Rs 1,000 and are over a decade old. Furthermore, about 70% lack updated phone numbers, creating a major hurdle for banks trying to locate depositors.
Detailing the regulatory measures, Arun Kumar stated that the Depositor Education and Awareness (DEA) Fund scheme, established by the RBI, manages deposits unclaimed for ten years or more. To encourage resolution, the RBI has introduced incentives for banks and simplified procedures for releasing deposits of deceased account holders. He also pointed depositors to the UDGAM portal, a centralized platform where individuals can search for unclaimed balances across multiple banks.
Financial Inclusion and Skill Development Updates
The meeting also reviewed progress on key government schemes. Kavitha Shetty reported that between April 1 and September 30, banks in the district opened 20,769 new accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY). Enrolment figures for other schemes were also shared: 25,564 under PMJJBY, 52,239 under PMSBY, and 16,668 under the Atal Pension Yojana (APY). Banks with poor performance in these schemes were advised to improve, and MP Capt Chowta directed all banks to submit a detailed action plan to boost APY enrolment immediately.
On the skill development front, District Skill Development officer Pradeep D'Souza highlighted the Nal Jal Mitra programme. Implemented under the Jal Jeevan Mission, it trained 161 women from Sanjeevini Okkutas in plumbing and water system maintenance. During the event, MP Capt Chowta symbolically distributed 72 toolkits and certificates to the trained participants.
Concluding the meeting's announcements, Capt Chowta released a poster for the upcoming district-level job fair, 'Viveka Udyoga 2026', scheduled to be held in Puttur on February 21.
