What is UDGAM
UDGAM is an unified portal in financial sector for Indian bank users in India. The Reserve Bank of India (RBI) has launched this site at August 2023.
Benefits of UDGAM:
This site will help the people who has more than one or two saving/current bank accounts in various bank and they can find those accounts with the deposit and claims that unclaimed deposit amount. RBI has made the claiming process easy.
The RBI says through this portal users will be able to identify unclaimed deposit or accounts then either they can claim the deposit amount or they can operate these accounts again.
UDGAM Quick Overview:
Full Name : Unclaimed Deposit- Getway to Access Information
Launched by : RBI
Official site: https://udgam.rbi.org.in/unclaimed-deposits/#/login
Process: Online
Launched date: August, 2023
Reason: To make the aware about unclaimed deposits.
Beneficiary : Individual or Non Individual of bank users.
What is unclaimed deposit:
The money you have right to claim but you are not aware about the deposit for long time. This unclaimed amounts are transferred by your respective banks to the Depositor Education and Awareness fund (DEA), which has been maintained by RBI. But you have to right to claim this deposit amount from the respective bank along with full interest.
RBI says “Balance in saving or current accounts, which are not operate for 10 years or term deposit not claim within 10 years from the date of maturity.”
Registration process for unclaimed deposit in UDGAM portal:
1. Go to https://udgam.rbi.org.in/unclaimed-deposits/#/login
2. Enter details of users Mobile number-First name-Last name-password-Re Enter password-captcha code
3. Select disclaimer and declared options
4. Enter OTP send to your mobile. Complete registration process
How to find out of unclaimed deposits in bank using UDGAM Portal:
5. Go here https://udgam.rbi.org.in/unclaimed-deposits/#/login
6. Enter Mobile number, password and capture code
7. Enter received otp click on next option
8. Fill the mandatory field. And select the bank.
9. Provide at least one of these documents
10. PAN/Voter ID/Driving License Number/Passport no/Date of birth.
11. Click on search option and UDGAM will show your unclaimed deposit on the screen.
Recently users can get benefits of only seven banks These include State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank Ltd, South Indian Bank Ltd, DBS Bank India Ltd, and Citibank N.A. The search facility for other banks will be made available by October 15.