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UDGAM Portal: A Convenient Solution to Search for Unclaimed Deposits

-UDGAM Portal is a centralized web portal that allows individuals to search for their unclaimed deposits across multiple banks in one convenient location

Chennai, 18 August(CityTimes): UDGAM Portal:The Reserve Bank of India (RBI) has taken a significant step towards assisting citizens in locating their unclaimed deposits with the launch of the UDGAM (Unclaimed Deposits – Gateway to access information) portal. This centralized web portal allows individuals to search for their unclaimed deposits across multiple banks in one convenient location. With the increasing trend in unclaimed deposits, the RBI aims to raise public awareness and encourage individuals to claim their funds. In this article, we will explore how the UDGAM portal works, how to register, and the benefits it offers to users

How Does the UDGAM Portal Work?

The UDGAM portal serves as a user-friendly platform that enables individuals to identify their unclaimed deposits and take necessary actions to claim the funds or make their deposit accounts operative at their respective banks. The development of the portal has been a collaborative effort between the Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks. Currently, the portal provides access to unclaimed deposit details for seven banks, including the State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank India, and CitiBank. The search facility for the remaining banks will be introduced in a phased manner by October 15, 2023.

How to Register on the UDGAM Portal?

To utilize the services of the UDGAM portal, users need to go through a simple registration process. Here is a step-by-step guide to registering on the UDGAM portal:

Visit the UDGAM portal by clicking here.

Fill in the required information, including your mobile number, name, password, and CAPTCHA.

To continue with the registration procedure, click the “Submit” button.

You will receive an OTP (One-Time Password) to the registered mobile number.

Enter the OTP on the login page to access your UDGAM account.

Once logged in, you will be prompted to enter the account holder’s name and the name of the bank(s) associated with the unclaimed deposits.

Additionally, provide at least one search criterion such as PAN, Voter ID, Driving License Number, Passport Number, or Date of Birth to refine your search.

Click on the “Search” button to initiate the search for your unclaimed deposits.

Benefits of the UDGAM Portal

The UDGAM portal offers several benefits to users, making it a valuable tool for individuals seeking to locate and claim their unclaimed deposits:

1. Centralized Access to Unclaimed Deposits

Instead of individually contacting multiple banks, the UDGAM portal provides a centralized platform for users to search for their unclaimed deposits across participating banks[^1^]. This eliminates the need to navigate through various websites or visit multiple bank branches, making the process more efficient and convenient for users.

2. Streamlined Claim Process

By providing users with direct access to information about their unclaimed deposits, the UDGAM portal simplifies the claim process. Users can identify their unclaimed deposits and take appropriate actions, such as claiming the deposit amount or making their deposit accounts operative, directly through the portal.

3. Collaboration between RBI, ReBIT, IFTAS, and Participating Banks

The development of the UDGAM portal involved collaboration between various stakeholders, including the RBI, Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks[^1^]. This collaboration ensures that the portal is robust, secure, and provides accurate information to users.

4. Phased Expansion for More Banks

While the UDGAM portal currently offers access to unclaimed deposit details for seven banks, the RBI plans to introduce the search facility for the remaining banks in a phased manner[^1^]. This expansion will further enhance the portal’s utility and cater to a broader range of users.

Conclusion

The UDGAM portal launched by the Reserve Bank of India (RBI) provides a convenient solution for individuals to search for their unclaimed deposits across multiple banks in one centralized location. By streamlining the process and offering direct access to information, the portal aims to simplify the claim process and encourage individuals to take action. With its user-friendly interface and collaborative development, the UDGAM portal is set to become a valuable resource for individuals seeking to locate and claim their unclaimed deposits. Register on the UDGAM portal today to begin your search and retrieve your unclaimed funds.

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