Do You Have Unclaimed Bank Deposits? Know How & Where To Track

New Delhi: Reserve Bank of India (RBI) on Thursday unveiled a centralised web portal to facilitate tracking of unclaimed deposits across multiple banks.

As part of its statement on Development and Regulatory Policies, RBI announced the launch of UDGAM (Unclaimed Deposits – Gateway to Access inforMation), through which people can track unclaimed deposits at one place.

Users will initially be able to access details of their unclaimed deposits in seven banks. The search facility for other banks will be made available on the portal in a phased manner by October 15.

RBI has been carrying out public awareness campaigns to sensitise the public on the increasing trend of unclaimed deposits. The central bank said it has been encouraging people to identify and approach their respective banks to claim unclaimed deposits.

“The launch of the web portal will aid users to identify their unclaimed deposits/ accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks,” said an RBI statement.

The portal has been developed jointly by Reserve Bank Information Technology Pvt. Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks.