RBI Launches UDGAM Portal That Wil Allow You To Track Your Unclaimed Deposits; Here's How To Check

The Reserve Bank of India (RBI) has launched a centralised web portal UDGAM that will help customers in tracking their unclaimed deposits. The development was first announced in April due to the increasing trend in the number of unclaimed deposits. However, currently, customers can access details of their unclaimed deposits only from seven banks including SBI, PNB, South Indian Bank, and Citibank among others.

UDGAM stands for Unclaimed Deposits - Gateway to Access Information.

On Thursday, RBI said, "This portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks in one place."

Earlier, in April, RBI announced the development of centralised web portal for searching unclaimed deposits.

Given the increasing trend in the number 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 the public to identify and approach their respective banks for claiming unclaimed deposits, it added.

Further, the launch of the web portal will aid users in identifying 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 Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the portal.

However, in the initial stage, RBI said, users would be able to access the details of their unclaimed deposits in respect of seven banks presently available on the portal.

These seven banks are -- State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank, South Indian Bank, DBS Bank India, and Citibank N.A.

RBI said the search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.

Here's how customers can check their unclaimed deposits:

Step 1: You will have to visit the UDGAM portal. Click Here: https://udgam.rbi.org.in/unclaimed-deposits/#/login

Step 2: You will first have to register using your mobile number on the portal, in case you are not logged in. Provide the details of your mobile number and full name. Then set a password, and then add the captcha code mentioned in bold format. Lastly, tick mark on the terms and conditions boxes and click Next.

Step 3: Once registered, you can log in to the portal.

Step 4: To log in, you will have to feed in your registered mobile number, password and the captcha code. Click On Next.

Step 5: This will lead to a page which will ask for a One-Time Password (OTP) that will be sent to your mobile number.

Step 6: After entering the OTP, you will be directed to another page where you are required to add details of your account holder and the name of the bank. Also, you will need to enter either of the five details such as Permanent Account Number (PAN), Voted ID number, Date of birth, driver's license, and Aadhaar card.

Step 7: Once done, you will be directed to a new page. If there are any unclaimed deposits, the details will be displayed. If there are no unclaimed deposits, there will be no display.