A facilitation camp aimed at helping residents trace and reclaim long-pending financial assets is set to be held in Sri Vijaya Puram on November 28, as part of a nationwide campaign focused on unclaimed deposits and dormant financial holdings.
The camp is being organised by the Union Territory Level Bankers’ Committee (UTLBC) of the Andaman and Nicobar Islands under the national initiative ‘Aap Ki Poonji, Aap Ka Adhikar’ (Your Money, Your Right). It forms part of a three-month awareness-cum-disbursement campaign launched by the Department of Financial Services in coordination with the Reserve Bank of India and financial sector regulators, including IRDAI and SEBI.
Scheduled to take place from 3 pm at the conference hall of SBI RSETI on the second floor of the SBI Complex, the camp is designed as a single-window facilitation mechanism for citizens seeking to identify and reclaim unclaimed or inactive financial assets held across different institutions. These include dormant bank deposits, unclaimed insurance amounts, inactive mutual fund units, dividend proceeds, unclaimed shares and other similar financial holdings.
Data submitted by banks indicates that, as of August 31, 2025, a total of 74,487 accounts amounting to Rs 44.69 crore in the Andaman and Nicobar Islands are lying unclaimed in the Depositors Education and Awareness Fund. The figure highlights the scale of dormant financial assets in the region and underscores the need for targeted public outreach and facilitation.
During the camp, officials from banks and financial institutions will carry out on-the-spot verification and settlement of eligible claims related to unclaimed deposits, insurance proceeds, mutual fund units, pension dues and other financial assets. The initiative is intended to simplify processes that are often seen as complex or time-consuming by account holders and legal heirs.
The programme will see the participation of officials from the banking sector and financial regulators. Representatives from the State Bank of India, Reserve Bank of India, IRDAI, Life Insurance Corporation of India and other banks are expected to be present to assist participants with verification, documentation and procedural guidance.
The nationwide campaign aims to ensure that money saved by citizens is not left idle due to lack of information, documentation gaps or procedural hurdles. By bringing multiple institutions under one roof, the facilitation camp seeks to accelerate settlements and improve awareness about existing mechanisms for reclaiming dormant assets.
For the Andaman and Nicobar Islands, where access to financial institutions may be limited by geography, such targeted camps are expected to play a key role in improving financial inclusion and awareness. Residents often remain unaware of old accounts, insurance policies or investments, particularly in cases involving inheritance or migration.
The Union Territory Level Bankers’ Committee has appealed to residents to participate in the camp and take advantage of the initiative. Officials emphasised that the camp is open to all eligible individuals and is structured to provide clear guidance without the need for intermediaries.
As the campaign progresses, similar outreach efforts may be undertaken to ensure wider coverage across the islands. The November 28 camp is seen as a significant step in aligning local efforts with the national objective of ensuring that every rupee rightfully belonging to citizens or their legal heirs is accounted for and reclaimed.
