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The Reserve Bank of India (RBI) has expanded the Centralised Web Portal उद्गम (UDGAM – Unclaimed Deposits: Gateway to Access inforMation), which was launched on August 17, 2023, to make it easier for the public to search for unclaimed deposits across multiple banks.
Initially, the portal offered the search facility for seven banks, with a plan to onboard remaining banks in phases by October 15, 2023. As of September 28, 2023, the search facility has been extended to 30 banks, covering approximately 90% of unclaimed deposits (in value terms) held in the Depositor Education and Awareness (DEA) Fund.
The RBI aims to provide a convenient and centralised platform for depositors to identify and claim their unclaimed deposits, thereby improving transparency and accessibility. Members of the public can access the portal to check for any unclaimed deposits and initiate claims across participating banks.
[RBI]