Bank Rules: If any amount belonging to your relative or family is lying unclaimed in the bank, then you can get information about it through RBI’s UDGAM portal. By going to this portal, the unclaimed amount deposited can be checked easily.
Unclaimed amount: Crores of rupees are lying unclaimed with the banks in the country, for which there is no claimant. The Reserve Bank of India (RBI) had disclosed this in its annual report. According to RBI, at the end of March 2023, this amount had increased to Rs 42,272 crore. At the same time, now the unclaimed amount has increased by 26 percent to Rs 78,213 crore. These amounts are linked to FDs and bank accounts.
If the amount of any of your relatives or house is lying unclaimed in the bank, then you can get information about it through RBI’s UDGAM portal. By visiting this portal, the deposited unclaimed amount can be checked easily. After registering yourself on the UDGAM portal, you can login and check the unclaimed amount. To claim, you can contact the concerned bank. Let us know that if any of your family members has an unclaimed amount, then how can you check it?
What is an unclaimed deposit?
Different banks review accounts on an annual basis for unclaimed deposits. It also finds out which are those bank accounts in which no transaction of any kind has taken place. When a depositor neither deposits any funds in an account nor withdraws any amount from it during the last 10 years, then the amount lying in the account during this period is considered as an unclaimed deposit. Banks also try to find a claimant for this amount.
RBI launched the UDGAM portal
The Reserve Bank of India launched the UDGAM portal in March to check unclaimed amounts. All unclaimed deposits that form part of the RBI’s Depositor Education and Awareness (DEA) Fund can be searched in the UDGAM portal. As of March 4, 2024, 30 banks are part of the UDGAM portal. These banks cover about 90% of the unclaimed deposits in the RBI’s Depositor Education and Awareness (DEA) Fund.
How to register on UDGAM portal?
- First of all go to UDGAM portal udgam.rbi.org.in, then go to the unclaimed amount section and register.
- To register, enter the registered mobile number and your name.
- Now set a password and enter the captcha code.
- Tick the check box and click on Next, then enter the OTP and verify.
How to check unclaimed amount?
- First of all go to https://udgam.rbi.org.in/unclaimed-deposits/#/login.
- Enter mobile number, password, captcha code. Now you will get OTP on the registered mobile number.
- In the next step, it is mandatory to enter the name of the account holder and select the bank.
- Now you have to enter the information according to any one of PAN, Voter ID, Driving License Number, Passport Number.
- After this, click on the search button, after which if there is any unclaimed amount, it will be visible to you.
- To withdraw this unclaimed amount, you can contact that bank.
