Recently, the Reserve Bank of India said 30 banks are facilitating people to search their unclaimed deposits/accounts through UDGAM portal.
About UDGAM Portal:
UDGAM refers to Unclaimed Deposits-Gateway to Access inforMation, which is an online portal developed by the Reserve Bank of India (RBI).
It facilitates the registered users to search unclaimed deposits/accounts across multiple banks at one place in a centralised manner. The unclaimed deposits can be claimed only from the respective bank.
There are 30 banks, which are part of UDGAM portal, and they cover around 90% of unclaimed deposits (in value terms) in Depositor Education and Awareness (DEA) Fund of RBI.
This portal provides information related to both individuals and non-individuals category unclaimed deposits.
After registration on the portal a person will get Unclaimed Deposit Reference Number (UDRN) which is a unique number generated through Core Banking Solution (CBS) by banks and assigned to each Unclaimed account/deposit transferred to Depositor Education and Awareness (DEA) Fund of RBI.
This number is used so that the account holder or the bank branch where account is maintained, cannot be identified by any third party.
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