RBI Udgam Portal Login

RBI Udgam Portal Login Link, Registration @ udgam.rbi.org.in, Unclaimed Deposit Search

RBI Udgam Portal:- On Thursday, the Reserve Bank of India (RBI) introduced UDGAM (Unclaimed Deposits – Gateway to Access Information), a consolidated web portal. The RBI has created this portal for the general public’s use in order to assist and make it simpler for consumers to search their unclaimed deposits across many banks in one location. Read below to check the detailed information related to the RBI Udgam Portal like Highlights, Objectives, Features & Benefits, List of Banks under the portal, Steps to Register, Login, and much more. 

RBI Udgam Portal 2023

As part of the statement on developmental and regulatory policies dated April 6, 2023, the Reserve Bank of India has announced the creation of a centralized web facility for looking up unclaimed deposits. In order to raise public knowledge about this issue, RBI has periodically launched public awareness programs given the rising tendency in the number of unclaimed deposits. Additionally, through these activities, the RBI has urged the public to locate and contact their particular banks to claim unclaimed deposits.

RBI Udgam Portal Details in Highlights

Name	RBI Udgam Portal
Full Form	Unclaimed Deposits – Gateway to Access Information
Introduced by	Reserve Bank of India (RBI)
Beneficiaries	Citizens of India
Official Website	https://udgam.rbi.org.in/

RBI Udgam Portal Objective

The establishment of the web portal would make it easier for consumers to locate their unclaimed deposits and accounts, giving them the option to either make their deposit accounts active at their respective banks or collect the deposit amount.

Features & Benefits of RBI Udgam Portal

Some of the key features and benefits of the portal are as follows:

• The launch of UDGAM (Unclaimed Deposits – Gateway to Access Information) was announced by the Reserve Bank of India (RBI)
• The platform was created in partnership by participating banks, Indian Financial Technology & Allied Services (IFTAS), and Reserve Bank Information Technology Pvt Ltd (ReBIT).
• Users will have access to information about their unclaimed deposits for the seven banks already included on the portal thanks to UDGAM.
• By October 15, the search function for the remaining banks on the portal would be gradually made available.

Need of RBI Udgam Portal

Any deposits in a savings, current, or fixed deposit are categorized as “Unclaimed Deposits” if they haven’t been used for 10 years. Unclaimed deposits are defined as “balances in savings/current accounts that are not operated for 10 years, or term deposits that are not claimed within 10 years of the maturity date. Banks transfer these funds to the Reserve Bank of India’s Depositor Education and Awareness (DEA) Fund.

Bank depositors have the right to reclaim unclaimed funds from the bank where they were held, including any accrued interest, even after the funds are transferred to the DEA. The RBI observed that despite efforts to increase public awareness in a statement from July 2022 that the number of unclaimed deposits was rising. However, despite periodic public awareness initiatives by banks and the RBI, the number of Unclaimed deposits is showing a growing trend.

Reason of Increased Unclaimed Deposits

The growing amount of unclaimed deposits, according to a news release from the RBI dated July 22, 2022, are primarily the result of depositors failing to close outgoing savings or current accounts or failing to notify banks of redemption requests for fixed deposit maturities. In other instances, the nominees or legal heirs of deceased depositors fail to bring a claim against the bank or banks in question.

List of Banks under RBI Udgam Portal

Users will first be able to view information about their unclaimed deposits in relation to the seven banks that are now accessible on the RBI Udgam portal, according to RBI which are as follows:

• Central Bank of India
• State Bank of India
• Punjab National Bank
• Dhanlaxmi Bank Ltd.
• Citibank N.A.
• South Indian Bank Ltd.
• DBS Bank India Ltd.

Steps to Register on the RBI Udgam Portal

To register on the RBI Udgam Portal, the user needs to follow the below-given steps:

• First of all, go to the official website of RBI Udgam Portal i.e., https://udgam.rbi.org.in/
• The homepage of the website will open on the screen

• Under the login window, click on the Register option
• The registration form will open on the screen
• Now, fill in the form with all the required details like mobile number, name, password, captcha code, etc
• After that, accept the declarations and click on the next button
• Now, fill in all the other required details
• Finally, click on the register button to complete the registration process

Steps to Login on the RBI Udgam Portal

To login into the portal, the user needs to follow the below-given steps:

• First of all, go to the official website of RBI Udgam Portal i.e., https://udgam.rbi.org.in/
• The homepage of the website will open on the screen
• Under the login window, enter your mobile number and the password
• After that, enter the captcha code
• Finally, click on the next button to get logged in to your registered account

Contact Details

For further details or in case of any query or complaint related to the RBI Udgam Portal, feel free to contact on the below-given details:

UDGAM Support Team: [email protected]

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