The Reserve Bank of India (RBI) has launched the UDGAM portal, an acronym for Unclaimed Deposits-Gateway to Access inforMation. This digital platform enables registered users to search for unclaimed deposits and accounts across multiple banks in a centralized manner. Currently, as of March 4, 2024, 30 banks are enrolled in the UDGAM portal, encompassing around 90% of unclaimed deposits within the Depositor Education and Awareness (DEA) Fund of RBI. The remaining banks are in the process of becoming part of the portal.
Included within the UDGAM portal are all unclaimed deposits and accounts associated with the DEA Fund of RBI. Users can conduct searches for both individual and non-individual deposits or accounts by inputting specific details such as the account holder’s name, bank name, and additional identifiers like PAN, driving license number, voter ID number, passport number, date of birth, or other pertinent information.
While the UDGAM portal streamlines the process of locating unclaimed deposits, it’s important for users to understand that they can only claim or settle their deposits directly through the respective bank. The portal furnishes information regarding the claim/settlement procedure for each bank, accessible to users subsequent to conducting their search.
To safeguard security and privacy concerns, every unclaimed deposit transferred to the DEA Fund is assigned a unique Unclaimed Deposit Reference Number (UDRN), generated via Core Banking Solution (CBS) by banks. This UDRN serves to maintain the confidentiality of the account holder’s identity and facilitates seamless claim settlements at bank branches for customers who have successfully utilized the UDGAM portal for their search.