Campaign to settle unclaimed bank assets — UPSC Current Affairs | December 28, 2025
Campaign to settle unclaimed bank assets
A special campaign named 'Ningalude Panam Ningalude Avakasham' will be held in Kollam to identify and return unclaimed bank deposits, organized by the Department of Financial Services. This initiative is relevant for UPSC GS3 (Economy) and GS2 (Government Policies) concerning financial inclusion and citizen's rights.
Overview A special campaign titled ‘Ningalude Panam Ningalude Avakasham’ (Your Money, Your Right) is scheduled for December 29 in Kollam . The initiative aims to identify and return unclaimed bank deposits to their rightful owners. Key Developments Organizing Body: The campaign is organized by the Department of Financial Services (DFS) under the Ministry of Finance . Inauguration: The event will be inaugurated by District Collector N. Devidas . Objective: The primary goal is to return funds from accounts that have remained inactive for over 10 years . Unclaimed Deposits: Currently, the district holds approximately ₹147.03 crore in unclaimed deposits across 6.63 lakh accounts . Assistance: Attendees can check for any deposits owed to them and receive guidance on the necessary documentation to prove ownership. Post-Camp Support: Assistance centers will be set up at major banks for further support after the camp. Contact: For more information, the public can contact 9447905980 . UPSC Relevance This initiative is relevant to the UPSC syllabus , particularly under GS3 (Economy) concerning financial inclusion and banking sector issues, and GS2 (Government Policies) regarding initiatives aimed at citizen empowerment and financial security. Potential UPSC Questions Discuss the challenges associated with unclaimed deposits in the banking sector and their impact on financial inclusion. Evaluate the effectiveness of government initiatives like 'Ningalude Panam Ningalude Avakasham' in addressing the issue of unclaimed deposits. Analyze the role of technology and awareness campaigns in reducing the accumulation of unclaimed deposits. Important Facts Campaign Name: Ningalude Panam Ningalude Avakasham (Your Money, Your Right) Date: December 29 Location: Kollam Organizer: Department of Financial Services (DFS), Ministry of Finance Unclaimed Amount: ₹147.03 crore Number of Accounts: 6.63 lakh Inactivity Period: Over 10 years