Central Idea

The RBI has launched Centralised Web Portal called UDGAM to search and retrieve unclaimed deposits from various banks, all in one centralized location.

What are Unclaimed Deposits?

The RBI defines “Unclaimed Deposits” as funds residing in dormant savings or current accounts for a duration of ten years.
Similarly, for fixed deposits (FDs), the funds remain unclaimed if they have not been withdrawn within ten years from the maturity date.

The UDGAM portal is a centralized web platform launched by the Reserve Bank of India (RBI) called “Unclaimed Deposits – Gateway to Access inforMation.”
It is collaborated by Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks.
It aims to provide individuals with an accessible and user-friendly platform to search and retrieve their unclaimed deposits from various banks in one centralized location.
The portal consolidates unclaimed deposit data from different banks.
It empowers users to identify their dormant accounts and take actions such as claiming the deposited amount or reactivating their dormant accounts directly through their respective banks.

The UDGAM Portal brings forth a set of user-centric features that redefine the approach to reclaiming unclaimed deposits:

Reclaim or Activate: Through this platform, users have the autonomy to initiate either the process of reclaiming the deposited amount or reactivating their dormant accounts, all under the umbrella of their respective banks.
Effortless Registration: Customers can swiftly register on the UDGAM Portal using their mobile numbers, initiating their journey towards unlocking their unclaimed funds.
Search and Input: Once registered, users can seamlessly search for their unclaimed deposits by inputting essential details such as their name, PAN, voter ID, driving license, and passport number.
KYC Process: Upon locating their deposits, customers can facilitate their retrieval by completing a streamlined Know Your Customer (KYC) process through their respective bank branches.
Nominee Assistance: In instances where the deposit holder is no longer alive, the nominee can facilitate the retrieval process by providing the necessary documents.