RBI unveils UDGAM portal to track unclaimed deposits
On Thursday, Shaktikanta Das, Reserve Bank of India (RBI) Governor, launched a centralized web portal UDGAM (Unclaimed Deposits – Gateway to Access inforMation), which would make it easier for people to search for their unclaimed deposits across multiple banks at one place.
The initiative has been launched amid a rising number of unclaimed deposits in banks and RBI has been undertaking public awareness campaigns from time to time to sensitize the public on this matter.
The launch of the web portal will aid users to identify their unclaimed deposits and accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks, a statement issued by RBI said.
To begin with, users would be able to access the details of their unclaimed deposits in respect of seven banks presently available on the portal. The search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023.
Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the portal.
The central bank announced the development of a centralized web portal for searching unclaimed deposits as part of its “Statement on Developmental and Regulatory Policies” on April 6 this year.
Further, through these initiatives, the RBI has been encouraging people to identify and approach their respective banks for claiming unclaimed deposits.
[With Inputs from IANS]
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
- India’s budget outlay for agriculture surge by 300%, over 11 cr farmers benefited from PM Kisan scheme in last 9 years: FAIFA report - May 15, 2024
- India surpasses Australia, Japan, Hong Kong in data centre capacity: Report - May 15, 2024
- Moody’s pegs Indian economy’s growth for FY25 at 6.6% - May 15, 2024