RBI's UDGAM Portal: A Gateway to Unclaimed Deposits
| Topic | Details |
|---|---|
| RBI Announcement | 30 banks are participating in the UDGAM portal. |
| Portal Name | UDGAM (Unclaimed Deposits-Gateway to Access inforMation). |
| Operational Status | - 30 banks are onboarded as of March 4, 2024.- Covers ~90% of unclaimed deposits in value terms.- Remaining banks are in the onboarding process. |
| User Registration | Requires name and mobile number for secure registration. |
| Purpose | - Centralized platform for searching unclaimed deposits/accounts.- Includes deposits under the Depositor Education and Awareness (DEA) Fund of RBI. |
| Functionality | - Facilitates searching for unclaimed deposits across multiple banks.- Provides information on the claim and settlement process for each bank. |