RBI Expands UDGAM Portal to Help Locate Unclaimed Deposits

Date:

RBI Expands UDGAM Portal to Help Locate Unclaimed Deposits:

The Reserve Bank of India (RBI) announced that it has added 30 banks to the UDGAM portal (Unclaimed Deposits – Gateway to Access information) to assist the public in locating unclaimed deposits. This expanded search feature now encompasses approximately 90 percent of the total unclaimed deposits in terms of their value within the Depositor Education and Awareness (DEA) Fund, as stated by the central bank.

Among the 30 banks are prominent financial institutions such as SBI, Bank of Baroda, Punjab National Bank, HDFC Bank, ICICI Bank, as well as foreign banks. Unclaimed deposits that have been dormant in a bank for 10 years are transferred to the DEA Fund managed by the RBI.

As of the end of February 2023, the RBI has received unclaimed deposits totaling Rs 35,012 crore from Public Sector Banks. The central bank introduced the UDGAM Centralised Web portal to facilitate public access to search for unclaimed deposits across various banks in one convenient location.

rbi expands udgam portal to help locate unclaimed deposits
RBI Expands UDGAM Portal to Help Locate Unclaimed Deposits

The public has been informed that the search feature for 30 banks was made accessible on the portal as of September 28, 2023.

Also read: Vizag Zoo Introduces a 2.5-Year-Old Lioness to Its Wildlife Family

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

spot_img

Popular

More like this
Related

A young heroine who was surprised by Trivikram’s surprise

One of Tollywood's top directors, the word magician Trivikram...

Watch the Exciting Teaser of Nani’s ‘Saripoda Sanivaram’!

Tollywood star hero, Natural Star Nani, is currently busy...

Mahesh Babu’s Loving Birthday Wishes for Sitara!

We all know that our Tollywood superstar Mahesh Babu...

“Tragedy incident in ‘Animal’ producer’s family”

Bollywood star Ranbir Kapoor's film "Animal" needs no introduction....