{"id":12345,"date":"2026-05-06T12:24:50","date_gmt":"2026-05-06T06:54:50","guid":{"rendered":"https:\/\/www.class24.study\/current-affairs\/?p=12345"},"modified":"2026-05-06T12:24:50","modified_gmt":"2026-05-06T06:54:50","slug":"udgam-portal-update-30","status":"publish","type":"post","link":"https:\/\/www.class24.study\/current-affairs\/udgam-portal-update-30\/","title":{"rendered":"UDGAM Portal Update: 30 Banks Integrated to Help Legal Heirs Trace Unclaimed Funds"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The UDGAM Portal, which has been implemented by the Reserve Bank of India to strengthen its digital initiative, has brought approximately 30 banks together, which allows the users of this digital initiative to trace their unclaimed deposits across these institutions in one place. The portal, named Unclaimed Deposits-Gateway to Access Information (UDGAM), assists depositors and nominees, in addition to legal heirs, to discover the presence of inactive funds over the years. Such a step simplifies the process of rediscovering lost bank balances and enhances transparency within the financial system. It is an extension of the larger drive of RBI to have that money contained in the chores of a financier to embrace us safely in the arms of its legitimate owners without incurring any unnecessary expenses.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Significance of UDGAM Portal<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">UDGAM Portal: The UDGAM Portal is a centralised system, developed by the Reserve Bank of India, to enable users to search unclaimed deposits among various banks at one location.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The portal has been integrated with around 30 banks covering approximately 90% of the unclaimed deposits within the Depositor Education and Awareness (DEA) Fund in the RBI.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The portal enables depositors, nominees, and legal heirs to follow up on unclaimed money with just basic details, like name, PAN or date of birth.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">It comprises all the types of deposits, such as savings accounts, fixed deposits, current accounts, and other inactive balances.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">In case a bank account has not been used in ten years or more, the sum is forfeited in the DEA Fund, yet the ownership remains with the customer or their heirs.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Search and identification \u0938\u0941\u0935\u093f\u0927\u093e; only up to this point, after which the specific claim process and identification have to be performed in relation to the respective bank.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">To capture search features, users are required to enter the portal using a mobile number and authenticate using OTP.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The platform has made a process, which was once complex, of making a multitude of contacts to various banks, just to find unclaimed funds.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Legal heirs are allowed to receive funds by presenting documents like a death certificate, identity proof and details of succession to the respective bank.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The project is one of many that RBI has undertaken to enhance the financial awareness and transparency and the ease of reclaiming money, which falls under the broader campaign of RBI in the context of Your Money, Your Right.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400\">What is UDGAM Portal &amp; How Does it Work?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The UDGAM Portal (Unclaimed Deposits &#8211; Gateway to Access Information) is a central depository web resource created by the Reserve Bank of India to enable users to search for unclaimed bank deposits in various banks. It enables registered users to have inactive accounts, e.g., savings or fixed deposits, in a single location. One has to initially create an account with the help of a mobile number, after which one can search with information such as name or PAN. The portal would show deposit details, and at this point, the claimant would be required to visit the relevant bank with their documents to claim the money.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/www.class24.study\/current-affairs\/nse-electronic-gold-receipts-egr-india-gold-market\/\" target=\"_blank\" rel=\"noopener\">India\u2019s Gold Market<\/a><\/p>\n<h2><span style=\"font-weight: 400\">Conclusion &#8211; UDGAM Portal Update<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The UDGAM Portal is a positive stride by the Reserve Bank of India into enhancing the level of transparency and access to the banking system. The significant integration of several banks, it makes it easier to trace unclaimed deposits of the depositors and their legal heirs. The portal not only saves the hustle of searching through different institutions, but it also helps foster financial awareness. In general, it assures the right owners to easily identify and reclaim their money with greater ease and confidence.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UDGAM Portal, which has been implemented by the Reserve Bank of India to strengthen its digital initiative, has brought approximately 30 banks together, which allows the users of this digital initiative to trace their unclaimed deposits across these institutions in one place. The portal, named Unclaimed Deposits-Gateway to Access Information (UDGAM), assists depositors and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":12346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-12345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/12345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/comments?post=12345"}],"version-history":[{"count":1,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/12345\/revisions"}],"predecessor-version":[{"id":12347,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/posts\/12345\/revisions\/12347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/media\/12346"}],"wp:attachment":[{"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/media?parent=12345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/categories?post=12345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.class24.study\/current-affairs\/wp-json\/wp\/v2\/tags?post=12345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}