Unclaimed Deposits? Log On to UDGAM Portal

The Reserve Bank of India maintains the Depositor Education and Awareness (DEA) Fund, which receives deposits that remain unclaimed in a bank for 10 years. To ensure the protection of depositors, the RBI has been implementing various measures. These measures aim to prevent newer deposits from becoming unclaimed and to ensure that existing unclaimed deposits are returned to their rightful owners or beneficiaries following the appropriate procedures.

Also, banks exhibit a roster of unclaimed deposits on their website. To enhance and broaden the accessibility of depositors/beneficiaries to such information, RBI made the decision to develop a web portal that enables searching across multiple banks for potential unclaimed deposits according to user inputs. Various AI tools have been integrated into the portal for enhanced search and to make it user- friendly.

The Reserve Bank of India has introduced UDGAM, a Centralised Web Portal, also known as the Gateway to Access Information for Unclaimed Deposits. This user-friendly portal allows members of the public to conveniently search for their unclaimed deposits across multiple banks in a single location.

The portal has been developed collectively by the Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and other participating banks.

Given the increasing trend in the number of unclaimed deposits, the Reserve Bank of India (RBI) has been frequently conducting public awareness campaigns to sensitize the public about this issue. And, to create ease for users to claim their unclaimed deposits, the RBI has developed this advanced yet easy- to-use portal.

Key elements of UDGAM Portal:

• This initiative of RBI encourages individuals to identify and approach their respective banks to claim their unclaimed deposits.
• The portal will aid users to identify their unclaimed deposits/ accounts.
• It will also enable users to either claim the deposit amount or make their deposit accounts operative at their respective banks.

Currently, users would be able to access the details of their unclaimed deposits from seven banks available on the Centralised Web Portal:

1. State Bank of India
2. Punjab National Bank
3. Central Bank of India
4. Dhanlaxmi Bank Ltd.
5. South Indian Bank Ltd.
6. DBS Bank India Ltd.
7. Citibank N.A.

The RBI will gradually implement the search feature for the remaining banks by 15 October 2023 to create ease for users.

Steps to access the portal:

1. To access the UDGAM portal, click at https://udgam.rbi.org.in/.
2. The user needs to complete the registration process by entering his/her mobile number, name, password, and captcha.
3. User needs to set a password. An OTP will be sent to the registered mobile number for authentication.
4. Once an OTP has been entered, the user will be directed to a page where one will be required to fill out a form.
5. This form will ask for the account holder’s name and the name of the bank. Correct details to be put.
6. Additionally, the user needs to fill in one of the following: PAN number, Voter ID number, driving license number, or date of birth.
7. Upon completion, the search result will display any unclaimed deposits associated with your account.
8. If in case there are no unclaimed deposits, the result will indicate none.

Register yourself to claim your unclaimed deposits at UDGAM Portal.