RBI launches centralised web portal ‘UDGAM’ for unclaimed deposits

This portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks in one place, an RBI release said

New Delhi: The Reserve Bank of India (RBI) on Thursday launched a Centralised Web Portal UDGAM (Unclaimed Deposits Gateway to Access inforMation).

This portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks in one place,” the release by RBI stated.

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The launch of the web portal will aid users to identify their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, the release read. The search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.

Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology and Allied Services (IFTAS) and participating banks have collaborated on developing the portal.