According to the Reserve Bank of India (RBI), crores of rupees are lying unclaimed with the banks, that is, for which there is no claimant. In such a situation, this question must have come to your mind from where did the banks get such a huge amount of unclaimed amount? If this amount is lying in the bank, then why is the owner not able to know about it? Let us tell you about it in detail.

Do you know that any of your relatives may have some unclaimed money lying in the bank? By visiting RBI's UDGAM portal, you can easily get this information whether there is any unclaimed deposit in your name or the name of any of your relatives. After registering yourself on this portal, you can log in and give your or your relative's information to find out whether any unclaimed amount is lying in the bank. If you get any amount, then you can claim it by going to the concerned bank. But first, know what is an unclaimed deposit. If any of your relatives have an unclaimed amount lying in the bank, how can you check it?

What is an unclaimed deposit?

An unclaimed deposit is the amount that is deposited in the bank but no one claims it. The Reserve Bank of India (RBI) discloses the unclaimed amount deposited in banks every year in its annual report. To find out the unclaimed deposits, accounts are reviewed on an annual basis in different banks. During this, such accounts are also found in which no transaction of any kind has taken place for a long time.

If any account is found in the review in which neither any money has been deposited nor withdrawn during the last 10 years, then the amount lying in the account is considered an unclaimed deposit. It is made a part of RBI's Depositor Education and Awareness (DEA) Fund.

RBI launches UDGAM portal

The Reserve Bank of India launched the UDGAM portal in March this year to find out the unclaimed amount deposited in banks. All unclaimed deposits can be searched through the UDGAM portal. As of March 4, 2024, 30 banks have become part of the UDGAM portal, which covers about 90 percent of the unclaimed deposits deposited in RBI's DEA fund. Through this portal, the claimant of the unclaimed amount gets complete information.

How to register on the UDGAM portal?

Step 1. Go to the UDGAM portal udgam.rbi.org.in, then go to the unclaimed amount section and register yourself.

Step 2. Enter your registered mobile number and name to register.

Step 3. After this, set the password and enter the captcha code.

Step 4. Tick the check box and then click on Next, after that verify by entering the OTP.

How to check the unclaimed amount?

Go to https://udgam.rbi.org.in/unclaimed-deposits/#/login.

Enter your mobile number, password, and captcha code here. After this, an OTP will come to your registered mobile number.

In the next step, it is mandatory to enter the name of the account holder and select the bank.

Now you have to enter the information as per any one of PAN, Voter ID, Driving License Number, Passport Number.

After this click on the search button, if there is any unclaimed amount then it will be visible to you.

To claim this unclaimed amount, you can contact the concerned bank.

(PC: Freepik)