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Banks across the district have stepped up the campaign to trace the heirs of unclaimed financial assets and settle the same, as per the Centre’s directives.
This was stated in the quarterly meeting of the District Level Review Committee of Lead Bank (State Bank of India), here on Thursday.
Lead Bank manager Krishnamurthy informed that in Mysuru district, there are 31 banks with 534 branches, including Canara Bank, State Bank of India, and Union Bank of India.
These banks collectively have 5,05,424 account holders with unclaimed deposits amounting to ₹157.33 crore. Customers must be contacted to claim their dues, officials were told. Bank managers and staff were directed to reach out to customers within their jurisdiction to settle pending cases.
The campaign will continue till the end of the year and the theme for the same is ‘Your Money Your Right’.
It was also announced that Mysuru district secured second place in the State for its performance under the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, reflecting effective coverage of social security schemes.
In the review of various Central government programmes being implemented in the district, MP for Mysuru Yaduveer Krishnadatta Chamaraja Wadiyar expressed concern over an increase in the rejection of applications submitted by beneficiaries.
The MP said that the percentage of rejected applications submitted by beneficiaries under the PM SVANidhi and PM Vishwakarma schemes has been increasing and suggested that these applications be re-examined and the decision be reviewed and reconsidered for approval.
“Before rejecting the beneficiaries’ applications, they must be thoroughly verified. Applications rejected without valid reasons should be reviewed again and considered for loan approval,” Mr. Yaduveer said, advising banks to adopt a fair and inclusive approach while processing loans.
Mr. Krishnamurthy directed bank officials to carefully scrutinise and re-check applications before rejection. He stressed the importance of recording valid reasons for rejection so that applicants can make necessary corrections and become eligible for the schemes. All pending applications should be cleared on priority, he added.
According to data presented at the meeting, 51,900 applications were received under the PM SVANidhi scheme. Of these, 40,706 have been approved, 37,142 beneficiaries have received funds, 1,627 applications were rejected, and 9,567 remain pending. During the second phase, 26,716 beneficiaries were sanctioned loans. Under the PM Vishwakarma scheme, 24,199 applications were received, and 5,599 beneficiaries were sanctioned loans amounting to ₹43.11 crore, while 17,225 applications were rejected.
Taking note of the high rejection rate, Mr. Yaduveer urged banks to consider the traditional occupations of applicants while assessing eligibility. Families engaged in hereditary professions should be given preference, he suggested.
Officials also reviewed progress under the Pradhan Mantri Awas Yojana. In Mandakalli, Lalithadripura, and K.R. Nagar, a total of 924 applications were filed for housing loans; 484 were approved, 245 are pending, and 195 were rejected. An official from the Rajiv Gandhi Housing Corporation pointed out discrepancies between applications submitted by beneficiaries and claims made by banks regarding non-receipt of forms.
Deputy Commissioner G. Lakshmikant Reddy, Zilla Panchayat CEO S. Yukesh Kumar, RBI Assistant General Manager R. Prabhakaran, and NABARD Deputy General Manager Shantaveer were present.
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