RBI unveils UDGAM Portal: Know its importance and how it works

RBI unveils UDGAM Portal: Know its importance and how it works


In a significant stride towards resolving the issue of unclaimed bank deposits, the Reserve Bank of India (RBI) has introduced a centralised online platform named UDGAM (Unclaimed Deposits – Gateway to Access Information). This innovative web portal serves as a decisive move by the RBI to tackle the challenge of unclaimed funds in various banks. With the launch of UDGAM, the RBI takes a substantial leap in promoting financial inclusivity, leveraging digital advancements to deliver efficient banking services to the populace. The primary aim of this central portal is to ensure that every neglected deposit, lying dormant in banks, is rightfully restored to its rightful owner.

In line with the Statement on Developmental and Regulatory Policies released on April 6, the Reserve Bank of India (RBI) unveiled its plans to establish a centralized online platform dedicated to locating unclaimed deposits. In response to the escalating volume of unclaimed deposits, the RBI has proactively conducted periodic public awareness campaigns aimed at sensitising the people to this issue. Furthermore, these proactive endeavours by the RBI have entailed urging the public to proactively identify and engage with their respective banks in order to reclaim these unclaimed deposits.

The inauguration of this web portal proves instrumental in aiding users to locate their unclaimed deposits or dormant accounts, allowing them to either retrieve the deposit amount or reactivate their dormant accounts with their respective banks. The development of the UDGAM portal is a collaborative effort between Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks.

At its current stage, the portal provides access to unclaimed deposit information from seven banks, which include the Central Bank of India, DBS Bank India Limited, Dhanlaxmi Bank Limited, Punjab National Bank, South Indian Bank Limited, and State Bank of India. The facility to search for unclaimed deposits in other banks will be phased in and available by October 15, 2023.

Anyone can access the UDGAM portal to search for bank details, it only needs a phone number to log in, and some basic details like PAN, AADHAAR etc to search.

To utilise the UDGAM portal, follow these simple steps:

Visit the website udgam.rbi.org.in. First you will need to create an account on the portal. Click on the registration option and provide your mobile number.

Screenshot from the portal

Complete the registration process by entering your name, creating a password, and solving a captcha. Proceed by clicking ‘next.’ Enter the One Time Password (OTP) sent to your mobile number, leading you to the login page.

Screenshot from the portal

Log in using your registered mobile number and the password you just created. After entering your details, the system will send an OTP to verify the login. Enter the OTP again to proceed.

This will load the UDGAM search page, where deposits held by a person in all the banks can be searched. To do a search, one needs to enter the name, and any one of the several details. These details include PAN, Voter ID, Driving License Number, Passport Number, or date of birth. Please note that all of them are not required to be entered, only any one of them needs to be provided.

After that, one can select a specific bank from the drop-down menu, or select all banks. Instead of selecting from the drop-down menu, there is also an option of clicking the button ‘Show Banks’ next to it. This displays a list of the banks on the page, and one can select the banks by selecting the checkboxes next to them.

You can also include an address as supplementary search criteria. Once the details are accurately entered, you can click the search button to access information about unclaimed deposits under the entered name and details.

Screenshot from the portal

UDGAM represents more than just a technological advancement in e-banking; it plays a pivotal role in fostering a transparent financial ecosystem. Serving as a dependable conduit for depositors to locate their unclaimed funds, it effectively mitigates the potential neglect of financial assets, thereby bolstering confidence in the integrity of the banking system. These proactive measures underscore the RBI’s resolute commitment to addressing user requirements, while concurrently driving continuous enhancement and modernisation within India’s banking landscape.


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