A total of ₹138 crore lying unclaimed in various banks across Kottayam district will soon be brought under a special initiative aimed at returning the funds to their owners or heirs.
As per estimates, this unclaimed money is spread across 5.07 lakh dormant accounts, many of which have remained inactive for over a decade.
As part of a national campaign on such unclaimed accounts, a district-level camp will be organised in Kottayam on November 3 to facilitate the settlement of such unclaimed deposits. The programme, led by the Lead Bank in association with all banks operating in the district, will be held at St. Joseph’s Cathedral Hall, Shastri Road.
Kottayam MLA Thiruvanchoor Radhakrishnan will inaugurate the event, while District Collector Chetan Kumar Meena will preside over the function.
According to officials, accounts are often left inactive when depositors pass away, move abroad or discontinue transactions. In several cases, their legal heirs remain unaware of the existence of such deposits. Accounts that have seen no activity for more than ten years are categorised as unclaimed accounts and come under the supervision of the Reserve Bank of India (RBI).
