The Reserve Bank of India (RBI) has launched a major scheme to clear 17.2 lakh unclaimed accounts in Jammu & Kashmir, holding over ₹465.79 crore. As part of the national “Aapki Poonji, Aapka Adhikar” campaign, the RBI is conducting mega settlement camps, offering incentives to banks, and using the UDGAM portal to help citizens recover long-pending deposits.
TheInterviewTimes.com | November 15, 2025: The Reserve Bank of India (RBI) has launched an ambitious, technology-driven initiative to clear 17.2 lakh unclaimed accounts in Jammu & Kashmir. These dormant accounts hold ₹465.79 crore, forming part of a nationwide recovery drive targeting ₹1.84 lakh crore in unclaimed financial assets under the campaign “Aapki Poonji, Aapka Adhikar.”
Massive Unclaimed Accounts Settlement Camps See Strong Public Response
At mega camps held simultaneously in Jammu and Srinagar on November 14, RBI Regional Director Chandra Shekhar Azad highlighted the magnitude of unclaimed deposits in the region.
Jammu district alone accounts for 2,94,676 dormant accounts with ₹107.27 crore in unclaimed funds.
The one-day camps allowed depositors and their legal heirs to verify documents on the spot, enabling instant settlements.
A total of ₹1.62 crore was disbursed in a single day, underscoring the scale and efficiency of the initiative.
Officials reiterated that the goal is to ensure citizens recover funds that rightfully belong to them while strengthening trust in the banking system.
Must Read: Infosys Share Buyback: India’s ₹18,000 Crore Repurchase and New Tax Implications Explained
RBI Introduces Incentive Scheme for Banks
To accelerate settlements and avoid delays, the RBI has rolled out a structured incentive scheme for banks managing dormant accounts.
- Incentives: 5%–7.5% of the payable amount
- Cap per account: ₹5,000–₹25,000
- Higher incentives for accounts dormant for over 10 years
- Scheme validity: September 30, 2025 – September 30, 2026
The incentives aim to reduce the mounting backlog of unclaimed deposits and prevent fresh funds from flowing into the Depositor Education and Awareness Fund (DEAF).
Banks have been directed to file quarterly claims to ensure transparency and faster payouts.
UDGAM Portal Anchors Nationwide Digital Outreach
The nationwide campaign involves an extensive collaboration among banks, insurance companies, pension funds, mutual funds, and dividend-paying bodies. These entities are conducting joint settlement camps and public awareness activities across India.
A key digital enabler in this recovery mission is the RBI’s UDGAM portal, which allows users to:
- Search across multiple banks
- Track dormant and unclaimed deposits
- Submit claims digitally
As of July 1, 2025, the portal had amassed over 8.5 lakh registered users, reflecting strong public engagement.
Azad urged banks to proactively contact depositors and legal heirs to ensure timely settlements and prevent accounts from remaining inoperative indefinitely.
A Step Toward Financial Inclusion and Accountability
The RBI’s aggressive push to settle dormant accounts is expected to deliver long-term benefits:
- Returning funds to rightful owners
- Enhancing transparency
- Boosting public faith in India’s financial systems
- Strengthening financial inclusion in Jammu & Kashmir and nationwide
With 17.2 lakh accounts being targeted in the union territory alone, this initiative marks one of the largest financial reclamation drives ever undertaken in the region.
Key Takeaways
- RBI has begun clearing 17.2 lakh unclaimed accounts worth ₹465.79 crore in J&K.
- The campaign is part of the national ₹1.84 lakh crore “Aapki Poonji, Aapka Adhikar” initiative.
- Banks receive 5%–7.5% incentives per account to speed up settlements.
- The UDGAM portal enables quick digital searches and claim processing.
- Settlement camps disbursed ₹1.62 crore in one day, showing high efficiency and public participation.