RBI Launches UDGAM Web Portal to Access Details of Unclaimed Deposits

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The Reserve Bank on Thursday launched a centralised web portal UDGAM (Unclaimed Deposits – Gateway to Access information) to help people search and claim unclaimed deposits. The portal, launched by RBI Governor Shaktikanta Das, has been developed by the central bank to help the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks in one place.

Presently unclaimed deposits from seven banks — State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank, South Indian Bank, DBS Bank India, and Citibank — are available on the RBI UDGAM portal.

The Reserve Bank of India (RBI) announced the development of a centralised UDGAM portal for searching unclaimed deposits as part of the Statement on Developmental and Regulatory Policies dated April 6, 2023. Given the increasing trend in the number of unclaimed deposits, the RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter, the central bank said in a statement.

Through these initiatives, the RBI has been encouraging members of the public to identify and approach their respective banks for claiming unclaimed deposits, it added.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.

Reserve Bank Information Technology (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks have collaborated on developing the RBI portal.

To begin with, users would be able to access the details of their unclaimed deposits in respect of seven banks presently available on the portal. The search facility for remaining banks on the portal would be made available in a phased manner by October 15, 2023, it noted.

About Rs. 35,000 crore unclaimed deposits as of February 2023 were transferred to the RBI by public sector banks (PSBs) in respect of deposits, which were not operated for 10 years or more. State Bank of India (SBI) tops the chart of unclaimed deposits worth Rs. 8,086 crore, followed by Punjab National Bank Rs. 5,340 crore, Canara Bank Rs. 4,558 crore, and Bank of Baroda Rs. 3,904 crore.

The deposits remaining unclaimed for 10 years in a bank are transferred to the ‘Depositor Education and Awareness’ (DEA) Fund maintained by the Reserve Bank of India (RBI).

Depositors’ protection being an overarching objective, the RBI has been taking various measures to ensure that newer deposits do not turn unclaimed and existing unclaimed deposits are returned to the rightful owners or beneficiaries after following due procedure.


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