UDGAM Portal

About UDGAM Portal

• UDGAM refers to Unclaimed Deposits-Gateway to Access inforMation, which is an online portal developed by the Reserve Bank of India (RBI).
• It facilitates the registered users to search unclaimed deposits/accounts across multiple banks at one place in a centralised manner.
• There are 30 banks, which are part of UDGAM portal, and they cover around 90% of unclaimed deposits (in value terms) in Depositor Education and Awareness (DEA) Fund of RBI.
• All unclaimed deposits/accounts that are part of Depositor Education and Awareness (DEA) Fund of RBI.
• This portal provides information related to both individuals and non-individuals category unclaimed deposits
• It facilitates only the search of unclaimed deposits/accounts across multiple banks at one place and provides information on claim/settlement process of each bank.
• The unclaimed deposits can be claimed only from the respective bank.
• After registration on the portal a person will get Unclaimed Deposit Reference Number (UDRN) which is a unique number generated through Core Banking Solution (CBS) by banks and assigned to each Unclaimed account/ deposit transferred to Depositor Education and Awareness (DEA) Fund of RBI.
• This number is used so that the account holder or the bank branch where account is maintained, cannot be identified by any third party.
• The UDRN enables the bank branches to seamlessly settle claims received from the customers/depositors, who have made successful search in UDGAM portal. 

Q1) What are Unclaimed Deposits?

According to RBI, "Unclaimed Deposits" refers to funds held in savings or current accounts that have remained inactive for a duration of 10 years, or in the case of fixed deposits (FDs), have not been withdrawn within 10 years from the maturity date.

Source: 30 banks join RBI UDGAM portal for unclaimed deposits