₹51.37 crore lies in unclaimed deposits in Idukki’s banks

As part of a national campaign on unclaimed accounts, a district-level camp will be organised in Idukki on November 3 to facilitate the settlement of such deposits. The programme, organised by the lead bank, Idukki (State Bank of India), in association with all the banks operating in the district, will be held at Pappootty Hall, near BMH Hospital, Thodupuzha.

According to Idukki district lead bank manager Varghese M. Mathew, a total of ₹51.37 crore lying unclaimed in various banks across Idukki district will soon be brought under a special initiative aimed at returning the funds to their rightful owners or heirs. “The event will focus on assisting the public in identifying and reclaiming unclaimed deposits, dormant accounts, unclaimed insurance proceeds, and pension-linked dues through on-the-spot facilitation,” said Mr. Mathew.

According to officials, many bank accounts become inactive when depositors pass away, move abroad, or discontinue transactions, and their legal heirs remain unaware of such funds. Accounts that have seen no activity for over ten years are classified as unclaimed and come under the supervision of the Reserve Bank of India (RBI).

According to officials, banks generally attempt to contact account holders or their heirs through available address records. However, when such efforts fail, outreach camps like this are conducted under the guidance of the RBI and the Government of India to help claimants recover their rightful funds.

The camp will also provide information on unclaimed deposits and the UDGAM portal.