Mysuru MP Yaduveer Krishnadatta Chamaraja Wadiyar along with senior bank officials at the District Level Control Committee meeting of the lead bank (State Bank of India) in Mysuru on Thursday. | Photo credit: MA SRIRAM
Banks across the district have intensified their campaign to trace the legal beneficiaries of unclaimed financial assets and settle them in accordance with the Centre’s guidelines.
This was stated at the Quarterly Meeting of District Level Audit Committee of Lead Bank (State Bank of India), here on Thursday.
Bank Manager Krishnamurthy informed that there are 31 banks with 534 branches in Mysuru district, including Canara Bank, State Bank of India and Union Bank of India.
Together, these banks have 5,05,424 account holders with unclaimed deposits of ₹157.33 crore. Customers must be contacted to claim their fees, officials said. Bank managers and employees have been urged to reach out to customers within their jurisdictions and settle backlogs.
The campaign will continue until the end of the year and its theme is “Your money, your right”.
It was also announced that Mysuru district was ranked second in the state for its performance under Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, reflecting the effective coverage of social security schemes.
Reviewing the various central government schemes being implemented in the district, Mysuru MP Yaduveer Krishnadatta Chamaraja Wadiyar expressed concern over the rise in the number of rejected applications submitted by the beneficiaries.
The MP said that the percentage of rejected applications submitted by the beneficiaries under PM SVANidhi and PM Vishwakarma schemes is increasing and suggested that these applications be re-examined and the decision reviewed and reconsidered for approval.
“Beneficiary applications must be thoroughly verified before rejection. Applications rejected without valid reasons should be re-examined and considered for loan approval,” Mr. Yaduveer said, advising banks to adopt a fair and inclusive approach while processing loans.
Mr. Krishnamurthy directed the bank officials to carefully scrutinize and recheck the applications before rejecting them. He stressed the importance of recording valid reasons for rejection so that applicants can make the necessary corrections and become eligible for the programs. All pending applications should be cleared on priority, he added.
According to data presented at the meeting, 51,900 applications have been received under the PM SVANidhi scheme. Of these, 40,706 were approved, 37,142 beneficiaries received funds, 1,627 applications were rejected and 9,567 remain pending. During the second phase, loans were approved to 26,716 beneficiaries. Under the PM Vishwakarma scheme, 24,199 applications were received and 5,599 beneficiaries were sanctioned loans amounting to ₹43.11 crore, while 17,225 applications were rejected.
Taking note of the high rejection rate, Mr. Yaduveer urged banks to consider applicants’ traditional occupations while assessing eligibility. Families engaged in hereditary professions should be given preference, he suggested.
The officials also reviewed the progress under the Pradhan Mantri Awas Yojana. A total of 924 home loan applications were filed in Mandakalli, Lalithadripura and KR Nagar; 484 have been approved, 245 are pending and 195 have been rejected. An official from the Rajiv Gandhi Housing Corporation pointed out discrepancies between the applications submitted by the beneficiaries and the demands of the banks regarding non-receipt of the forms.
Deputy Commissioner G. Lakshmikant Reddy, Zilla Panchayat CEO S. Yukesh Kumar, RBI Deputy CEO R. Prabhakaran and NABARD Deputy CEO Shantaveer were present.
Published – 30 Oct 2025 20:57 IST
