RBI launches UDGAM portal: Check process to register, search for unclaimed deposits
The portal has been developed by the central bank for the public to help them search for their unclaimed deposits across multiple banks in one place. Here's all you need to know.
In Short
- RBI launches UDGAM web portal for citizens' unclaimed deposits
- UDGAM centralizes unclaimed deposit search across multiple banks
- Users can claim deposits or make accounts operative via portal
The Reserve Bank of India (RBI) has launched a centralized web portal to help citizens search for their unclaimed deposits, known as UDGAM (Unclaimed Deposits – Gateway to access information).
The portal has been developed by the central bank for the public to help them search for their unclaimed deposits across multiple banks at one place.
The RBI had earlier announced the development of the centralized web portal on April 6, 2023.
“Given the increasing trend in the amount of unclaimed deposits, RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter. Further, through these initiatives, the RBI has been encouraging members of public to identify and approach their respective banks for claiming unclaimed deposits,” RBI said.
How will the UDGAM portal work?
The launch of the web portal will help users identify their unclaimed deposits/accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, said the RBI.
“Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the portal,” RBI added.
Users would be able to access the details of their unclaimed deposits in respect of seven banks presently available on the portal. These banks are the State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank India, CitiBank N.A.
The RBI said the search facility for the remaining banks on the portal would be made available in a phased manner by October 15, 2023.
How to register on UDGAM Portal?
Users have to visit the UDGAM portal (click here to visit the portal) and register.
For the registration process, users will have to enter their mobile number, name, password, CAPTCHA, and then submit. After clicking on submit, the user will receive an OTP on the registered mobile number.
Following this, users can log in to their UDGAM account by entering their mobile number and password.
After entering the details on the login page, they will again have to enter an OTP.
Users will then be redirected to a page where they will have to enter the name of the account holder, name of the bank or banks. Additionally, they will have to provide at least one search criterion --- PAN, Voter ID, Driving License Number, Passport Number, or Date of Birth.
After providing the details, users can click on search and check their unclaimed deposits.
