Unclaimed Savings: The list of unclaimed deposits is published by the banks on their website. In order to make it easier for depositors and beneficiaries to access such data, the Reserve Bank has decided to create an online platform.
RBI UDGAM Portal: If you too have not been able to claim your money deposited in any bank for a long time, then this news will definitely give you relief. Yes, the Centralized Web Portal Udgam (UDGAM) has been launched by the Reserve Bank of India (RBI) for the convenience of the public. The purpose of launching the portal is to trace unclaimed money deposited in banks for a long time. Through this portal started for the convenience of the public, it will be easy to find the unclaimed amount deposited in different banks.
Aim to create an online platform
RBI has created this platform to facilitate the customers to search for unclaimed deposits in multiple banks on a single platform. The list of unclaimed deposits is published by the banks on their website. In order to make it easier for depositors and beneficiaries to access such data, the Reserve Bank has decided to create an online platform. With this, on the basis of user’s input, possible unclaimed deposits can be found in different banks.
Details of these banks will be available
In April 2023, the Reserve Bank of India (RBI) announced the launch of a centralized web portal to track unclaimed deposits. State Bank of India (SBI), Punjab National Bank (PNB), Central Bank of India, Dhanlaxmi Bank Ltd, South Indian Bank are currently on this portal started by RBI. Information about unclaimed deposits is available in South Indian Bank Ltd, DBS Bank India Ltd and Citi Bank.
Information of other banks will also be uploaded
The launch of the UDGAM portal will help people identify unclaimed savings accounts or FDs. Such people will be able to claim the deposit amount through this or restart their deposit accounts in the concerned banks. According to the information given by the Reserve Bank, at present users will be able to get the details of unclaimed deposits of seven banks present on the portal. Apart from this, information related to other banks will also be gradually uploaded on the website in the coming times.
Let us tell you that by February 2023, public sector banks had transferred unclaimed deposits of about Rs 35,000 crore to RBI. This money was linked to such an account which was not running for 10 years or more. State Bank of India (SBI) has the highest unclaimed amount of Rs 8,086 crore. Apart from this, Rs 5,340 crore is unclaimed in PNB, Rs 4,558 crore in Canara Bank and Rs 3,904 crore in Bank of Baroda.
