RBI Introduces UDGAM Portal: Your Guide to Reclaiming Unclaimed Deposits
The Reserve Bank of India (RBI) has unveiled a groundbreaking solution for individuals seeking their unclaimed deposits. Named the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal, this centralized web platform is designed to simplify the process of locating unclaimed deposits across various banks. Here’s a comprehensive breakdown of the key features and steps involved:
The RBI’s UDGAM portal serves as a user-friendly tool for individuals to track down their unclaimed deposits seamlessly, consolidating information from multiple banks into a single accessible location. With the growing prevalence of unclaimed deposits, RBI has been proactively promoting awareness campaigns to educate the public about this issue. Through UDGAM, RBI aims to empower citizens to identify their unclaimed deposits and engage with their respective banks to initiate claims.
The UDGAM portal simplifies the process of identifying and claiming unclaimed deposits by streamlining the steps involved. RBI collaborated with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and select banks to develop this platform.
Currently, the UDGAM portal provides access to unclaimed deposit information from seven banks, including prominent names like State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank India, and CitiBank N.A. For other banks, the search feature will be introduced in phases by October 15, 2023.
Getting started with the UDGAM portal is a straightforward process. Follow these steps to register and initiate your search for unclaimed deposits:
Register: Fill in your mobile number, name, password, and the provided CAPTCHA. After completing the form, submit your details.
OTP Verification: An OTP will be sent to your registered mobile number. Enter this OTP to proceed.
Login: Use your registered mobile number and password to log in to your UDGAM account.
Initiate Search: Click on the search button to trigger the system to retrieve and display your unclaimed deposits’ details.
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