The new RBI Portal to access the ‘Unclaimed Deposits’ of Savings or Current Account

29 August, 2023 0 Comments

            The new RBI Portal to access the ‘Unclaimed Deposits’ of Savings or Current Account

Have you ever struggled to get your parent's or grandparent's current or savings account money after the account has been inoperational? If the answer is yes, then the new RBI UDGAM scheme is a blessing. UDGAM (Unclaimed Deposits – Gateway to Access Information) is the centralised web portal developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place.

So what are Unclaimed Deposits?

Savings/current accounts inactive for 10 years or term deposits unclaimed for 10 years after maturity are labelled as 'Unclaimed Deposits'. The Reserve Bank of India has hinted that the possible increase in trends of unclaimed deposits is because of failure to close savings/current accounts that depositors no longer intend to use, or not submitting redemption claims for matured fixed deposits with banks. There are instances where accounts of deceased depositors go unclaimed because nominees/legal heirs do not step forward to make claims from the relevant banks.

In India, the current total unclaimed deposits stand at Rs. 35,000 Cr.

The increasing trend in unclaimed deposits has led RBI to streamline the process of accessing such information and encourage users to initiate the claim process or renew their accounts. With UDGAM, the users can also access their family members details. Presently, the users can have access to details under seven banks, namely,

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. Citi Bank N.A.

Other banks are expected to join the portal by October 2023 onwards.

Here’s a step-by-step process of how you can claim the unclaimed deposits by the RBI-empowered mechanism.

Step 1- Go to the UDGAM portal-

Step 1- Go to the UDGAM portal

Step 2- Register in the portal by feeding your mobile no, name and password as well. Login has to be authorized via OTP.

Step 2- Register in the portal by feeding your mobile no

Step 3- Once you log in, there are options to search the deposits through Name, PAN No, Voter ID no, Passport no, Driving license no, DoB and address as well.

Step 3- Once you log in

Step 4- Using your login, you can search for other family members as well, using their individual information.

Step 5- After entering the necessary information, if you possess an unclaimed deposit under your name (untouched for the last 10 years), this platform will retrieve the information. Subsequently, you can contact the relevant bank branch to initiate the claim process.




The RBI's UDGAM portal presents a valuable solution to the challenge of unclaimed deposits by offering a user-friendly web portal to easily locate dormant savings and current account deposits across multiple banks. With over Rs. 35,000 Crores in unclaimed deposits, this initiative promotes financial awareness and empowers individuals to proactively manage their assets.

Unlike physical assets like real estate and gold which are easier to trace, it is difficult in the case of financial assets if NOT maintained and monitored properly. UDGAM underscores the importance of vigilant financial management, providing a crucial tool to reclaim overlooked financial assets.

For More Details Contact :  Mr. Rajanish -  +91 9900130321 |  Mr. Saisri -  +91 9740013581 |  Email -