The Reserve Bank of India (RBI) has recently launched a centralized web portal called UDGAM (Unclaimed Deposits – Gateway to Access InforMation). This initiative aims to assist individuals in locating and recovering unclaimed deposits across multiple banks in one place.
The UDGAM portal is a significant step by the RBI to facilitate the process of claiming unclaimed deposits. It provides a streamlined and easy-to-use platform for account holders and the general public to search for their old accounts lying inactive or dormant for many years. This initiative reflects the central bank’s bold approach to ensuring that unclaimed funds are returned to their rightful owners.
RBI UDGAM Portal Purpose
| Portal Name | UDGAM (Unclaimed Deposits – Gateway to Access inforMation) |
| Purpose | To find unclaimed deposits |
| Participating Banks | SBI, Central Bank of India, Citi Bank, DBS Bank, Dhanlaxmi Bank, Punjab National Bank, etc. |
| Availability | The phased manner by October 15, 2023 |
| Required Documents | PAN, Voter ID, Driving License, Passport etc. |
| Registration Link | udgam.rbi.org.in |
The UDGAM portal is designed to support people in locating and retrieving their unclaimed deposits lying with various banks. Over time these forgotten funds have been substantially reserved. Due to this, the banks are now holding over ₹35,000 crore in unclaimed deposits. UDGAM Portal aims to return these unclaimed deposits to the rightful owners.
What are Unclaimed Deposits?
Unclaimed deposits refer to balances in savings or current accounts that have not been operated for ten years, or term deposits not claimed within ten years from the date of maturity. These amounts are classified as unclaimed deposits and are transferred to the Depositor Education and Awareness (DEA) Fund maintained by the RBI.
At present, the following seven banks are available on the portal:
- State Bank of India
- Central Bank of India
- Citi Bank
- DBS Bank
- Dhanlaxmi Bank
- Punjab National Bank
- South Indian Bank
RBI has announced that the search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.
Users need to have the PAN, voter ID, driving license number, and passport details of the account holder handy. They will also be asked to provide one of the five identification inputs: PAN number, Voter ID number, Passport number, driving license number, or date of birth.
How to Register on UDGAM Portal?
In order to check unclaimed deposits, the users have to register themself to the RBI UDGAM Portal. The process of registration is very easy and can be completed by following the steps mentioned below.
- First of all open the official portal i.e. udgam.rbi.org.in
- Then on the home page, you will see the login and register option.
- Select the register link and enter the required details such as Mobile number, name and password etc.
- After filling in the captcha accept the terms and conditions by clicking their option.
- Click on next and complete your registration by providing valid information.
How to Login to UDGAM Portal?
The logging process of the UDGAM portal is quite similar to the registration process. Follow the instruction given here to log in to UDGAM Portal Account.
- Open the official website of the UDGAM Portal at udgam.rbi.org.in
- Then just on the home page, you will see an option for login.
- Now enter your registered mobile number and password.
- Fill in the captcha and click on the next button.
- In this way, you will surely log in to your UDGAM Account.
How to Find Unclaimed Deposits?
Users can check the unclaimed deposits easily by using the step-by-step instructions given here-
- Login to the RBI UDGAM Portal using your login details.
- Now enter the name of the account holder and select the bank name.
- Then enter the details of your PAN Card and other ID.
- After that hit the search button.
- If there will be any unclaimed deposit then it will be displayed on your screen.
UDGAM Portal Website – udgam.rbi.org.in