Reserve Bank of India (RBI) has started UDGAM Portal for unclaimed deposits lying in banks. According to this portal, customers can easily track their unclaimed deposits and can also claim them.
Now the Central Bank has released the list of 30 banks included in the Udgam portal. Customers can easily track unclaimed deposits by visiting the portal.
What is the UDGAM Portal?
RBI launched UDGAM i.e. Unclaimed Deposits – Gateway to Access information portal in August 2023. There has been a rise in the number of unclaimed deposits in banks. Many people deposit money in the bank and do not keep the account active or do not make any claim on that amount.
Given the increase in the number of unclaimed deposits in the bank, Udgam portal was launched in the Central Bank. Through this portal, account holders can easily claim unclaimed deposits. This portal lets users search for unclaimed deposits/accounts across multiple banks in one place in a centralized manner.
All these accounts are part of the DEA fund. Details of these funds can also be searched on the UDGAM portal.
Regarding the frequently asked questions on the UDGAM portal, the central bank said in a statement that by March 4, 2024, 30 banks had been linked to the UDGAM portal. These banks cover about 90 percent of unclaimed deposits in the DEA fund.
To get the unclaimed deposit, the user has to register with his name and mobile number. Provides facility for unclaimed deposits of many banks on the portal. Apart from this, a facility of how to claim for unclaimed deposits is also provided.
RBI said that the total amount of unclaimed deposits till March 2023 was Rs 42,270 crore.
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