The Reserve Bank of India (RBI) has introduced the UDGAM portal, which stands for Unclaimed Deposits-Gateway to Access inforMation. This online platform allows registered users to search for unclaimed deposits and accounts across multiple banks in a centralized manner.
As of March 4, 2024, 30 banks are part of the UDGAM portal, covering approximately 90% of unclaimed deposits in the Depositor Education and Awareness (DEA) Fund of RBI. The remaining banks are in the process of joining the portal.
The UDGAM portal includes all unclaimed deposits and accounts that are part of the DEA Fund of RBI. Users can search for individual and non-individual deposits/accounts by providing specific information such as the name of the account holder, bank name, and additional identifiers like PAN, driving license number, voter ID number, passport number, date of birth, or other relevant details.
While the UDGAM portal facilitates the search for unclaimed deposits, users must note that they can only claim or settle their deposits directly from the respective bank. The portal provides information on the claim/settlement process for each bank, which users can access after conducting their search.
For security and privacy, each unclaimed deposit transferred to the DEA Fund is assigned a unique Unclaimed Deposit Reference Number (UDRN) generated through Core Banking Solution (CBS) by banks. This UDRN ensures that the account holder’s identity remains confidential and helps bank branches settle claims seamlessly for customers who have successfully searched in the UDGAM portal.
