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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

RBI launches - UDGAM - Centralized Web Portal for searching Unclaimed Deposits

17-Aug-2023 | Press Release: 2023-2024/765

Reserve Bank of India (RBI) has issued a press release announcing the launch of UDGAM - Unclaimed Deposits Gateway to Access Information. UDGAM is a centralized web portal designed to help the public search for unclaimed deposits. This portal has been developed by RBI to provide an accessible platform for individuals to easily search for their unclaimed deposits across multiple banks. The introduction of this web portal aims to assist users in identifying any unclaimed deposits or accounts they might have. It allows them to either claim the deposited amount or reactivate their dormant deposit accounts with their respective banks. The development of the portal has been a collaborative effort between Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks. Initially, users will be able to access details about their unclaimed deposits for seven banks that are currently available on the portal. The feature to search for unclaimed deposits in the remaining banks will be introduced in a phased manner, and it is expected to be fully functional by October 15, 2023.

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