Mysuru banks to step up drive to return unclaimed deposits; MP flags rising rejection of loan applications

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MP for Mysuru Yaduveer Krishnadatta Chamaraja Wadiyar on  with elder  slope  officials astatine  the District Level Review Committee gathering  of Lead Bank (State Bank of India), successful  Mysuru connected  Thursday.

MP for Mysuru Yaduveer Krishnadatta Chamaraja Wadiyar on with elder slope officials astatine the District Level Review Committee gathering of Lead Bank (State Bank of India), successful Mysuru connected Thursday. | Photo Credit: M.A. SRIRAM

Banks crossed the territory person stepped up the run to hint the heirs of unclaimed fiscal assets and settee the same, arsenic per the Centre’s directives.

This was stated successful the quarterly gathering of the District Level Review Committee of Lead Bank (State Bank of India), present connected Thursday.

Lead Bank manager Krishnamurthy informed that successful Mysuru district, determination are 31 banks with 534 branches, including Canara Bank, State Bank of India, and Union Bank of India.

These banks collectively person 5,05,424 relationship holders with unclaimed deposits amounting to ₹157.33 crore. Customers indispensable beryllium contacted to assertion their dues, officials were told. Bank managers and unit were directed to scope retired to customers wrong their jurisdiction to settee pending cases.

The run volition proceed till the extremity of the twelvemonth and the taxable for the aforesaid is ‘Your Money Your Right’.

It was besides announced that Mysuru territory secured 2nd spot successful the State for its show nether the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, reflecting effectual sum of societal information schemes.

In the reappraisal of assorted Central authorities programmes being implemented successful the district, MP for Mysuru Yaduveer Krishnadatta Chamaraja Wadiyar expressed interest implicit an summation successful the rejection of applications submitted by beneficiaries.

The MP said that the percent of rejected applications submitted by beneficiaries nether the PM SVANidhi and PM Vishwakarma schemes has been expanding and suggested that these applications beryllium re-examined and the determination beryllium reviewed and reconsidered for approval.

“Before rejecting the beneficiaries’ applications, they indispensable beryllium thoroughly verified. Applications rejected without valid reasons should beryllium reviewed again and considered for indebtedness approval,” Mr. Yaduveer said, advising banks to follow a just and inclusive attack portion processing loans.

Mr. Krishnamurthy directed slope officials to cautiously scrutinise and re-check applications earlier rejection. He stressed the value of signaling valid reasons for rejection truthful that applicants tin marque indispensable corrections and go eligible for the schemes. All pending applications should beryllium cleared connected priority, helium added.

According to information presented astatine the meeting, 51,900 applications were received nether the PM SVANidhi scheme. Of these, 40,706 person been approved, 37,142 beneficiaries person received funds, 1,627 applications were rejected, and 9,567 stay pending. During the 2nd phase, 26,716 beneficiaries were sanctioned loans. Under the PM Vishwakarma scheme, 24,199 applications were received, and 5,599 beneficiaries were sanctioned loans amounting to ₹43.11 crore, portion 17,225 applications were rejected.

Taking enactment of the precocious rejection rate, Mr. Yaduveer urged banks to see the accepted occupations of applicants portion assessing eligibility. Families engaged successful hereditary professions should beryllium fixed preference, helium suggested.

Officials besides reviewed advancement nether the Pradhan Mantri Awas Yojana. In Mandakalli, Lalithadripura, and K.R. Nagar, a full of 924 applications were filed for lodging loans; 484 were approved, 245 are pending, and 195 were rejected. An authoritative from the Rajiv Gandhi Housing Corporation pointed retired discrepancies betwixt applications submitted by beneficiaries and claims made by banks regarding non-receipt of forms.

Deputy Commissioner G. Lakshmikant Reddy, Zilla Panchayat CEO S. Yukesh Kumar, RBI Assistant General Manager R. Prabhakaran, and NABARD Deputy General Manager Shantaveer were present.

Published - October 30, 2025 08:57 p.m. IST

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