Imagine ₹138 crore just sitting in bank accounts, forgotten and untouched! That’s the staggering sum currently lying unclaimed in various banks throughout Kottayam district. This substantial amount is spread across an estimated 5.07 lakh dormant accounts, many of which haven’t seen any activity for over a decade.
To address this issue, a special district-level camp is being organized in Kottayam on November 3. This event, part of a broader national initiative, aims to make it easier for people to reclaim their forgotten deposits. Hosted by the Lead Bank in collaboration with all local banks, the camp will take place at St. Joseph’s Cathedral Hall on Shastri Road. Kottayam MLA Thiruvanchoor Radhakrishnan is set to inaugurate the program, with District Collector Chetan Kumar Meena presiding over the proceedings.
Officials explain that accounts often become inactive for various reasons: depositors might pass away, move to another country, or simply stop making transactions. Crucially, in many instances, legal heirs are completely unaware that these deposits even exist. Any account without activity for more than ten years is officially classified as ‘unclaimed’ and falls under the watchful eye of the Reserve Bank of India (RBI).
It’s not just Kottayam facing this phenomenon; nationwide, the total value of such unclaimed deposits has reached an astonishing ₹1.82 lakh crore.
Banks typically attempt to reach out to account holders or their rightful heirs using available contact information. However, when these attempts prove unsuccessful, specialized camps like the one in Kottayam become essential.
Raju Philip, the district manager of the Lead Bank, encourages anyone attending the camp to bring all valid documents that prove their entitlement to the funds. Attendees will receive comprehensive guidance on the entire reclamation process. Furthermore, dedicated help desks will be set up in all banks after the camp to assist claimants with any follow-up procedures, ensuring a smooth return of their long-lost money.
