Srinagar- 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.

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