Residents of Ernakulam district have a crucial opportunity to reclaim forgotten wealth, as banks in the region are sitting on a staggering Rs 307.69 crore in unclaimed deposits. A special camp organized as part of the Reserve Bank of India's (RBI) national initiative will be held to help rightful owners or their heirs recover these funds.
Massive Unclaimed Wealth Awaiting Owners
According to lead bank manager C Ajilesh, accounts that have seen no transactions for over ten years are classified as unclaimed. In Ernakulam district alone, this category encompasses a massive 11.93 lakh accounts currently under the control of the RBI. The scale of unclaimed money is enormous nationwide, with Rs 1.82 lakh crore lying dormant across India. Within Kerala, the total unclaimed amount stands at a substantial Rs 2,133.72 crore.
Special Camp to Facilitate Claims
To bridge the gap between these deposits and their owners, a special camp titled 'Your Money, Your Right' will be organized. This camp is scheduled for Monday, starting at 10 am, at the Infant Jesus Parish Hall near the high court in Kochi. The event is spearheaded by the Lead Bank in cooperation with all other banks, and will also see participation from insurance companies and financial literacy centres.
Common reasons for accounts becoming inactive include the death of depositors or their relocation abroad, often leaving heirs unaware of the existence of such accounts. The camp aims to directly address this issue by providing a platform for verification and guidance.
Documents and Process for Claimants
Individuals attending the camp must come prepared with documents that legally prove their claim to the dormant deposits. Upon successful verification of their claim at the camp, officials will provide the necessary guidelines and procedures to reclaim the funds. For any follow-up procedures, support centres will be operational in all banks to assist claimants.
This initiative underscores the RBI's continued effort to ensure that rightful owners can access their money. It serves as a vital reminder for the public to check on old accounts and for families to be aware of the financial assets of their deceased relatives.
