UDGAM portal: The total amount of unclaimed deposits till March 2023 was Rs 42,270 crore.
UDGAM portal: It has become easier to withdraw and trace unclaimed money deposited in banks. Reserve Bank of India (RBI) said that 30 banks are providing the facility to people to trace unclaimed deposits/accounts through UDGAM portal. The remaining banks are also in the process of joining it. UDGAM is the entry gate online portal to access information about unclaimed deposits. It has been made by RBI. Through this, registered users have been given the facility to track unclaimed deposits/accounts in multiple banks at one place in a centralized manner.
All unclaimed deposits/accounts are part of the Depositor Education and Awareness (DEA) Fund of RBI. Information about these can be obtained through Udgam portal (UDGAM portal).
30 banks connected to the portal
The Central Bank said in the list of frequently asked questions released on the Udgam portal, 30 banks are connected to the Udgam portal till March 4, 2024. About 90% of the unclaimed deposits (in terms of value) in the RBI’s Depositor Education and Awareness Fund are in these banks.
How to register on UDGAM portal
For information, it is necessary for the user to register on the portal by giving his name and mobile number. The portal provides the facility to track unclaimed deposits/accounts across multiple banks at one place. It also gives information about the claim/settlement process of each bank.
Rs 42,270 crores are lying unclaimed
The FAQ states that unclaimed deposits can be claimed only from the concerned bank. The total amount of unclaimed deposits till March 2023 was Rs 42,270 crore.
List of Banks available on UDGAM Portal
1. State Bank of India
2. Punjab National Bank
3. Central Bank of India
4. Dhanlaxmi Bank Ltd.
5. South Indian Bank Ltd.
6. DBS Bank India Ltd.
7. Citibank N.A.
8. Canara Bank
9. Bank of India
10. Bank of Baroda
11. Indian Bank
12. Union Bank of India
13. HDFC Bank
14. Federal Bank
15. Kotak Mahindra Bank
16. ICICI Bank
17. UCO Bank
18. Bank of Maharashtra
19. IDBI Bank
20. Jammu and Kashmir Bank Ltd.
21. Punjab and Sind Bank
22. Axis Bank Ltd.
23. Indian Overseas Bank
24. Standard Chartered Bank
25. HSBC Ltd.
26. Karnataka Bank Ltd.
27. The Karur Vysya Bank Ltd.
28. Saraswat Co-operative Bank
29. IndusInd Bank Ltd.
30. Tamilnad Mercantile Bank Ltd.
