SRINAGAR/JAMMU: As part of the nationwide initiative “Apki Poonji, Apka Adhikar – Your Money, Your Right”, J&K UTLBC today successfully conducted Mega Financial Facilitation Camps in the districts of Kupwara, Kathua, Kulgam and Doda to help people identify, verify and reclaim their unclaimed bank deposits, dormant insurance amounts, inactive mutual funds, unclaimed shares, dividends and other long-pending financial assets.
The camps are part of the campaign launched by the Department of Financial Services under the Finance Ministry, in coordination with the Reserve Bank of India (RBI), Insurance Regulatory and Development Authority of India (IRDAI), Securities and Exchange Board of India (SEBI), and the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs.
The outreach camps witnessed encouraging public participation including public representatives while bringing together officials from district administration and all other stakeholders.
KATHUA CAMP
Organised by the Lead Bank Office (Kathua) in collaboration with all major financial stakeholders, the district-level facilitation camp was presided over by DC (Kathua) Rajesh Sharma in the presence of DGM (RBI) Vibha Gupta, Regional Manager (SBI) Ankur Sharma, Cluster Head, J&K Bank, Parshottam Kumar, senior officials from LIC, PNB MetLife, Bajaj Allianz, SBI Life, and branch heads of various banks across the district.
Speaking on the occasion, DC Rajesh Sharma urged banks to ensure proactive outreach for tracing rightful claimants, calling the campaign “a crucial step in empowering citizens to reclaim long-pending financial dues.” He appreciated the coordinated approach of banks and encouraged sustained momentum for timely settlements.
DGM (RBI) Vibha Gupta highlighted the 3A Strategy – Awareness, Accessibility & Action, noting that J&K UT has 17,20,878 unclaimed accounts worth Rs 465.79 Cr, of which Kathua alone accounts for 94,598 accounts amounting to Rs 20.68 Cr. She also explained the RBI’s incentive-based “Scheme for Facilitating Accelerated Pay-out”, offering differential pay-outs up to 7.5% or Rs 25,000 per account to banks that settle or reactivate inoperative accounts from October 1, 2025 to September 30, 2026.
Participants were given detailed guidance on claim procedures, required documentation, and demonstrations of the UDGAM portal, enabling them to easily trace deposits transferred to the DEA Fund. Banks also set up service counters for re-KYC, new account openings (including PMJDY), enrolment under Jan Suraksha schemes, and nomination services.
A major highlight of the camp was the distribution of cheques worth Rs 3.78 lakh to 41 beneficiaries/legal heirs after successful verification.
KULGAM CAMP
The Mega Facilitation Camp in Kulgam registered strong participation from key institutional stakeholders including J&K Bank’s Zonal Head (Anantnag) Khavar Mehraj, Cluster Head (Kulgam) Syed Tasaduq Madni, RBI LDO Subin Kundal, AGM NABARD Rouf Ahmad Zargar, along with senior representatives of all banks and major insurance companies such as LIC and PNB MetLife.
Speaking on the occasion, Zonal Head (Anantnag) Khavar Mehraj Handoo said, “By bringing all stakeholders together under one platform, we are not only simplifying the settlement process but also reinforcing the values of financial awareness, transparency and inclusive service delivery across the district.”
RBI officials provided on-the-spot guidance for claims relating to unclaimed bank deposits, insurance proceeds, dividends, shares, mutual funds and other inactive financial assets—greatly simplifying the settlement process for participants.
District Kulgam has 35332 unclaimed accounts worth Rs 6.69 crores. Of these, 34 accounts totalling Rs 7.20 lakh had already been settled earlier, while today’s camp facilitated the settlement of 6 more accounts worth Rs 5.12 lakh, offering timely financial relief to rightful beneficiaries.
Senior district administration officials commended the collective efforts of financial institutions in strengthening financial literacy and ensuring rightful claim settlements.
Lead District Manager Iftikhar Ahmad Padder expressed gratitude to all participating agencies, reaffirming the Lead Bank Office’s commitment to conducting such drives to deepen financial inclusion across Kulgam.
KUPWARA CAMP
Hosted by the Lead Bank Office (Kupwara) at MC Town Hall Kupwara, the mega facilitation camp was attended by DDC Chairman (Kupwara) Irfan Sultan Pandithpori, RBI LDO Anoop Kumar Sharma, representatives from J&K Bank’s Kupwara Cluster Office, senior officials from all major banks, insurance companies and other institutions.
Large participation from various government departments significantly expanded the camp’s outreach.
Representatives from CFLS (RDS & CRISIL) and FLCC Kupwara conducted detailed awareness sessions on unclaimed financial assets and available settlement platforms.
LDM Kupwara Tanveer Bashir informed that the district holds 80083 unclaimed accounts amounting to Rs 14.49 Cr, urging citizens to proactively trace their funds using the RBI UDGAM portal.
The event concluded with expressions of gratitude to all stakeholders and participants for contributing to the camp’s success.
Doda Camp
Organized by the Lead Bank Office (Doda) in collaboration with major financial institutions, the camp was presided over by Deputy Commissioner (Doda) Harvinder Singh in the presence of RBI LDO Amit Kumar, J&K Bank Cluster Head Sorab Kumar, representatives from LIC, branch managers of various banks and officials from line departments.
Speaking on the occasion, DC Doda urged financial institutions to intensify outreach efforts to identify rightful claimants. Appreciating the strong coordination among banks in driving timely settlements, he said, “Today’s facilitation camp is an important step toward ensuring that every person of Doda district receives what is rightfully theirs. I urge people to make full use of these services and come forward to trace and settle their unclaimed financial assets without delay.”
Lead District Manager Praveen Kumar informed the gathering that Doda district alone has 46000 unclaimed accounts worth Rs 11.15 crore.
Participants were sensitised about claim procedures, required documents and settlement workflows. A live demonstration of the RBI’s UDGAM portal helped citizens understand how to trace deposits transferred to the DEA Fund and initiate the bank-wise claim process.
Several banks installed facilitation counters to assist citizens with re-KYC, account openings including PMJDY, enrolment under PMJJBY, PMSBY and APY, nomination services and grievance redressal.
A key highlight of the camp was the settlement of 32 unclaimed accounts, with beneficiaries/legal heirs receiving cheques amounting to Rs 2.35 lakh upon completion of formalities.
