Guidelines on Unclaimed Deposits (Inoperative accounts 10 Years & Above)
Outstanding credit amount of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be transferred to the Depositor Education and Awareness (DEA) Fund of RBI on the last working day of the subsequent month.
The Customer / Survivor / Legal Heir / Authorized Signatories, as the case may be, may lodge a claim for the unclaimed deposit to activate the account.
Customer may visit any branch of Jammu and Kashmir Grameen Bank with all necessary KYC documents. If the customer wants to activate and continue operations in the account, the branch will accept the specific request from the customer, reactivate the account by obtaining proper KYC and refund the DEAF claim as per guidelines involved.
PROCEDURE FOR CLAIM
Individual claim by customer
Customer may visit Bank’s branch with the request letter (in the given format) and submit valid proof of identity, address & latest photograph. On verification of the same, branch will make the account operative, allow transactions in the account and refund the amount transferred to DEAF as per as per guidelines involved.
Claim by Legal Heir / Nominee
The Legal Heir / Nominee may visit Bank’s branch and submit the required documents. Customer would be required to comply with the claim settlement process of the Bank.
Claim by Non-Individual
The customer may submit the Claim Form on the Company’s/ Firm’s / Institution’s letterhead duly signed by the authorized signatories along with their application form and valid identity and address proofs. The customer may also be required to submit additional documents as required by the Bank
Annexure: Application Form.