The Reserve Bank of India (RBI) on August 17, 2023, issued a Press release regarding the launch of UDGAM - Centralised Web Portal for searching Unclaimed Deposits
The following has been stated namely: -
• The RBI has launched the UDGAM portal for use by members of the public to facilitate and in order to make it easier for them to search their unclaimed deposits across multiple banks in one place.
• 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
• It states that the Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the portal.
•It States that the users would be able to access the details of their unclaimed deposits in respect of seven banks namely: -
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 search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.
[Press Release: 2023-2024/765]
