Mangaluru: Nearly ₹140 crore is lying unclaimed in bank accounts in Dakshina Kannada district that have remained inactive for more than 10 years, and banks must intensify efforts to create awareness so that rightful customers can reclaim their money, said Member of Parliament Capt. Brijesh Chowta on Wednesday.
He was speaking while presiding over the District Level Review Committee (DLRC) meeting of banks held at the Netravati Hall of the Dakshina Kannada Zilla Panchayat, where the performance of banks and the implementation of various government schemes were reviewed in detail.
Call for awareness on unclaimed deposits
Highlighting the seriousness of the issue, Capt. Chowta said that across the country, deposits worth around ₹78,000 crore are lying unclaimed in bank accounts that have been inactive for over a decade. In Karnataka alone, such deposits amount to approximately ₹3,400 crore, with Dakshina Kannada district accounting for nearly ₹140 crore.
“This is not a small amount. It is people’s hard-earned money that has remained untouched due to lack of awareness, migration, or the death of account holders without nominees,” he said. The MP stressed that banks have a responsibility to proactively reach out to customers and their families to ensure that legitimate claims are settled.
He added that apart from bank deposits, large amounts are also lying unclaimed in insurance policies and shares. Banks, insurance companies and other financial institutions should coordinate and take appropriate steps to ensure that these amounts are returned to the rightful beneficiaries at the earliest.
RBI highlights UDGAM portal
RBI Assistant General Manager Arun Kumar P. informed the meeting that ₹20 crore from previously inactive accounts in Dakshina Kannada district has already been repaid to customers after they came forward with valid claims.
He said customers can trace their inactive bank accounts through the Reserve Bank of India’s UDGAM portal (udgam.rbi.org.in). Using details such as their name, Permanent Account Number (PAN) or date of birth, individuals can search for unclaimed deposits across multiple banks on a single platform.
Arun Kumar urged banks to publicise the portal widely through branches, local media and awareness camps, especially in rural areas, so that more people can benefit from the facility.
Concerns over PM Vishwakarma scheme implementation
During the meeting, Capt. Chowta expressed displeasure over reports that some banks have failed to sanction loans to beneficiaries selected under the PM Vishwakarma scheme, which is aimed at supporting traditional artisans and craftsmen.
He said the scheme is meant to provide timely financial assistance to eligible beneficiaries and any delay or reluctance by banks defeats its purpose. The MP instructed bankers to strictly adhere to guidelines and ensure that genuine beneficiaries are not turned away without valid reasons.
He also reviewed the progress of the Kisan Credit Card (KCC) scheme and asked banks to show greater commitment towards expanding credit to farmers and allied sectors. “Government welfare schemes are meaningful only when they reach the intended beneficiaries,” he remarked.
Mudra, Jan Dhan and social security schemes reviewed
Lead Bank Manager Kavitha Shetty presented a detailed overview of the banking performance in the district. She said that between April and September 2025, loans worth ₹414.26 crore were disbursed to 24,115 accounts under the Pradhan Mantri Mudra Yojana, supporting micro and small entrepreneurs.
Under the Pradhan Mantri Jan Dhan Yojana, 20,769 new savings bank accounts were opened during the same period, further strengthening financial inclusion in the district.
She also shared progress under key social security schemes. A total of 25,564 people were enrolled under the Pradhan Mantri Jeevan Jyoti Bima Yojana, while 52,239 beneficiaries joined the Pradhan Mantri Suraksha Bima Yojana. Additionally, 16,668 people were covered under the Atal Pension Yojana.
Strong performance under PM SVANidhi
Under the PM SVANidhi scheme, which supports street vendors with collateral-free working capital loans, financial assistance was sanctioned to 19,434 beneficiaries in Dakshina Kannada district.
As of the end of September 2025, the total banking business in the district stood at ₹1,35,696.22 crore, reflecting steady growth in deposits and advances. Loans amounting to ₹26,096.15 crore were disbursed across priority and non-priority sectors, achieving 80.90 per cent of the quarterly target, officials said.
Senior officials attend meeting
Canara Bank Deputy General Manager Shailendranath and NABARD District Development Manager Sangeetha S. Karth were among the senior officials present at the DLRC meeting, along with representatives from various public and private sector banks.
Conclusion: The DLRC meeting underlined the need for greater awareness and proactive outreach by banks, particularly to address the issue of unclaimed deposits. With nearly ₹140 crore lying idle in Dakshina Kannada alone, coordinated efforts by banks and regulators could help return substantial sums to rightful owners while strengthening trust in the banking system.