Rs 3,400 crore unclaimed in Karnataka bank accounts: RBI official
Mangaluru: Around Rs 3,400 crore has remained unclaimed in bank accounts across Karnataka for more than a decade, officials said during the District Consultative Committee (DCC) and District Level Review Committee (DLRC) meeting held here on Wednesday.
Arun Kumar, Assistant General Manager of the Reserve Bank of India (RBI), Bengaluru Regional Office, said the central bank has launched a state wide campaign under the Depositor Education and Awareness Fund (DEAF) to help people recover unclaimed deposits. The special drive, which began three months ago, will continue till December 31, though depositors can approach banks even after the deadline, The New Indian Express reported.
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He reportedly said nearly 80 per cent of unclaimed accounts have balances of less than Rs 10,000. Many of them are decades old, lack updated mobile numbers or KYC details, and in several cases, the original account holders are no longer alive. Updating mobile numbers and customer details has been taken up as the first step in the campaign.
The unclaimed money includes deposits in savings, fixed deposit and current accounts. Customers can also check for unclaimed deposits through the UDGAM online portal.
Dakshina Kannada Lead Bank District Chief Manager Kavitha Shetty said around Rs 140 crore remains unclaimed in nearly six lakh bank accounts in the district alone. So far, Rs 20 crore has been returned to depositors of 830 accounts under the DEAF scheme.
Dakshina Kannada MP Capt. Brijesh Chowta called for stronger awareness efforts and urged banks to proactively inform customers through pamphlets and direct outreach. He also raised concerns over delays in implementing welfare schemes and stressed the need for better execution of programmes such as PMJDY, PMJJBY, PMSBY and APY.
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Hormuz Strait disruptions have caused huge economic impact, energy instability in region: Navy chief
Mumbai (PTI): The Strait of Hormuz disruptions have caused severe economic impact and energy instability in the region, Indian Navy chief Admiral D K Tripathi said on Thursday amid the war in West Asia.
Speaking at an event where INS Sunayna, an offshore patrol vessel, set sail from Mumbai as Indian Ocean Ship (IOS) Sagar, the admiral said competition at sea has no longer remained confined to oil and energy.
It is now expanding towards resources that will shape future growth - such as rare earth elements, critical minerals, new fishing grounds and even data, he said.
The West Asia crisis began on February 28 after a joint attack by the US and Israel on Iran.
Iran's strikes on its neighbours along with its chokehold on the Strait of Hormuz have disrupted the world's energy supplies with effects far beyond West Asia.
"With the conflict in West Asia well into its fifth week, the disruptions in the Strait of Hormuz have caused severe economic impact and energy instability in the region," Tripathi said.
There is significant increase in the marine survey, deep-sea research activity, and Illegal Unreported and Unregulated Fishing (IUU), often encroaching upon the sovereign rights of littoral nations and exploiting gaps in monitoring and enforcement, he said.
Alongside these, threats such as piracy, armed robbery and narco-trafficking backed by unimpeded access of advanced technology to non-state actors, have also become more complex and challenging to counter, the Navy chief pointed out.
Last year alone, the Indian Ocean Region witnessed a staggering 3,700 maritime incidents of varying nature, the admiral said.
Additionally, narcotics seizures in the region exceeded USD 1 billion USD in 2025, highlighting the persistence and spread of such challenges in the region, he said.
