RBI launches the UDGAM platform with 30 banks - The Reserve Bank of India (RBI) has enrolled 30 banks in its Centralized Web Portal UDGAM (Unclaimed Deposits - Gateway to Access inforMation),.
The Reserve Bank of India launched a Centralised Web Portal called UDGAM (Unclaimed Deposits - Gateway to Access information) to help and make it simpler for people to search for their unclaimed deposits across different banks at one location.
The Reserve Bank of India (RBI) has announced that 30 banks have been included on the UDGAM portal, which allows individuals to search and claim unclaimed deposits. Initially launched with seven banks, the portal now covers around 90% of unclaimed deposits in the Depositor Education and Awareness (DEA) Fund. Major public sector lenders, foreign banks, and private sector lenders are included in the list. The RBI received approximately Rs 35,000 crore of unclaimed deposits from public sector banks, with SBI having the highest amount at Rs 8,086 crore.
Unclaimed bank FDs: Two effective methods to go looking for them are contacting your bank and using the Unclaimed Deposits Gateway to Access InforMation (UDGAM) website.