There are more than 17 lakh unclaimed accounts in Jammu and Kashmir.
On one hand, news of killing of 9 people in Naugam blast in Jammu and Kashmir has come to light. On the other hand, another news is much discussed. More than 17 lakh accounts have been found unclaimed in the banks present in Jammu and Kashmir. This means that no owner of these accounts has been revealed. The special thing is that there is an amount of about Rs 466 crore in these unclaimed accounts. After this report came out, instructions have been issued to RBI. Let us also tell you what kind of report has come out regarding Jammu and Kashmir.
466 crore unclaimed money
More than 17.20 lakh unclaimed accounts with outstanding amount of Rs 465.79 crore have come to light in Jammu and Kashmir. After which the Reserve Bank of India (RBI) has encouraged banks to actively contact the real claimers of these deposits for refund in a timely manner. RBI Regional Director Chandrashekhar Azad said that in Jammu district alone there are 2,94,676 unclaimed accounts worth Rs 107.27 crore. Overall, there are 17,20,878 unclaimed accounts in the Union Territory with outstanding amount of Rs 465.79 crore. He urged banks to proactively contact and trace the depositors and real claimants of these unclaimed deposits to ensure timely settlement.
RBI started the scheme
He further said that RBI has launched an incentive scheme called “Scheme for Prompt Asset Payment Facilitation – Dormant Accounts and Unclaimed Deposits” under which banks will be given a differential payment of 7.5 per cent of the balance in such accounts or Rs 25,000, whichever is lower, for reactivating dormant accounts and settling unclaimed deposits from October 1 to September 30, 2026. Jammu and Kashmir Union Territory Level Bankers Committee (UTLBC) organized massive settlement-cum-awareness camps simultaneously in Jammu and Srinagar to facilitate on-the-spot identification, verification and distribution of unclaimed financial assets lying in various banks, insurance companies, pension funds, mutual funds and dividends across the entire Union Territory.