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RBI launches portal for searching unclaimed deposits

The Reserve Bank of India has launched a Centralised Web Portal उद्गम UDGAM (Unclaimed Deposits – Gateway to Access inforMation). This initiative aims to provide the general public with a convenient way to locate their unclaimed deposits from various banks in a single location. The RBI has developed this portal to streamline and simplify the process of searching for unclaimed deposits.

Given the increasing trend in the amount of unclaimed deposits, RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter. Further, through these initiatives, the RBI has been encouraging members of public to identify and approach their respective banks for claiming unclaimed deposits.

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

To begin with, users will be able to access the details of their unclaimed deposits in respect of seven banks presently available on the portal. The search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.

PR Newswire

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