Outlook Money
The Reserve Bank of India has launched a centralised Web portal, UDGAM, to help bank accountholders trace unclaimed deposits across banks in India.
The objective of the UDGAM platform is to help people locate the unclaimed amounts and identify the appropriate claimants from one place. The platform is also meant to provide a gateway for eligible claimants to access unclaimed deposits.
The UDGAM platform has been made to make it easier for people to search for unclaimed deposits across multiple banks at one place and claim them. There are 30 banks listed on the portal.
Visit the official website of UDGAM and then register by providing the necessary details.
According to information presented in Parliament in December 2023, there was a total of ₹42,270 crore in unclaimed bank deposits in the fiscal year 2023—a 28 per cent increase over the corresponding period in the previous year.
Compiled by Syed Muskan
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