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RBI onboards 30 banks on UDGAM portal
October 06, 2023
The Reserve Bank of India (RBI) Thursday said the search facility for 30 banks has been made available on UDGAM (Unclaimed Deposits – Gateway to Access information) portal on September 28, 2023, which covers around 90% of unclaimed deposits (in value terms) in Depositor Education and Awareness (DEA) Fund.
“The search facility was initially made available on the portal for seven banks and it was intimated to public that the search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023,” Yogesh Dayal, Chief General Manager RBI said.
The RBI had in August 2023 launched a centralised web portal UDGAM to help people to search and claim their unclaimed deposits across multiple banks in one place.
The portal was initially launched with a search facility for seven banks: State Bank of India (SBI), Punjab National Bank (PNB), Central Bank of India, Dhanlaxmi Bank, South Indian Bank, DBS Bank India and Citibank.
Given the increasing trend in the number of unclaimed deposits, the RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter, the RBI had said in a statement.
The web portal will aid users to identify their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.
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