NE BUSINESS BUREAU
BENGALURU, NOV 23
The State Level Bankers’ Committee (SLBC) Karnataka and the public sector lender Canara Bank has organized a special camp on “Unclaimed Assets in the Financial Sector” at the Zilla Panchayat Auditorium, Bengaluru Urban.
The camp, held as part of the nationwide campaign running from October 1 to December 31, 2025, witnessed active participation from over 200 individuals, including bankers, beneficiaries, and representatives from various implementing agencies.
- RBI’s outreach drive exemplifies our resolve to address residential mobility, update nominee information, and raise digital literacy, especially in rural areas: Kaya Tripathi, Regional Director, RBI.
- These dormant funds, if activated, can serve as a vital source of strength for our economy: Bhavendra Kumar, Executive Director, Canara Bank
- Directing unclaimed funds to their rightful owners boosts the economy, much like blood circulation strengthens the human body: Yathish R, CEO, Zilla Panchayat Bengaluru Urban
The event was inaugurated by Yathish R, CEO, Zilla Panchayat Bengaluru Urban in the presence of Bhavendra Kumar, Executive Director, Canara Bank; Kaya Tripathi, Regional Director, Reserve Bank of India; Shambhu Lal, Chief General Manager, Canara Bank; Mahesh M. Pai, CGM Canara Bank Bengaluru Circle; M. Bhaskar Chakravarthy, Convenor, SLBC Karnataka and General Manager Canara Bank; Yashodha, CAO, Bengaluru Urban, and senior executives from the RBI and member banks.
Bhavendra Kumar, ED, Canara Bank in his keynote address, emphasized, unclaimed deposits often accumulate due to inactive accounts, outdated nominee information, and gaps in digital literacy. These dormant funds, if activated, can serve as a vital source of strength for our economy.”
Banks and the agencies do have both a moral duty and, increasingly, a regulatory push to actively trace and repay every depositor whose money has become “unclaimed” rather than passively waiting for claims.
Kaya Tripathi, Regional Director, RBI, stated, the RBI’s outreach drive exemplifies our resolve to address residential mobility, update nominee information, and raise digital literacy, especially in rural areas. Our banks are prioritizing outreach and ensuring a secure, transparent, and fraud-free claiming process. We urge all account holders to update their KYC details regularly to avoid future dormancy.
Presiding over the event, Yathish R, IAS, remarked, “Directing unclaimed funds to their rightful owners boosts the economy, much like blood circulation strengthens the human body. Periodic campaigns should be held to maximize coverage and reach across communities.”
Shambu Lal, Chief General Manager, Canara Bank welcomed the gathering.
The camp concluded with the distribution of certificates to customers from various banks who successfully reclaimed their unclaimed deposits, says a release.
