• 9863020202    
  • contact@financeseva.in

UDGAM Portal Launched By RBI

  • 29-Apr-2024

Inspired by CA Vikas Jain's insightful blog, this space will be your one-stop guide to navigating the UDGAM portal. We'll delve into frequently asked questions (FAQs) to ensure a smooth experience.

Here's a sneak peek of what you can expect:

  • Understanding UDGAM: We'll break down the meaning of UDGAM (Unclaimed Deposits – Gateway to Access Information) and explain how it simplifies the process of searching for forgotten deposits.
  • Benefits of UDGAM: Discover the advantages of using this centralized portal compared to contacting individual banks.
  • Step-by-Step Guide: We'll provide a clear, step-by-step walkthrough on using the UDGAM portal, from registration to claiming your deposits.
  • FAQs Answered: We'll address common questions you might have about eligibility, required documents, and the claim process.

Stay tuned for our upcoming posts where we'll equip you with all the knowledge you need to claim what's rightfully yours!


What is the UDGAM Portal?  

UDGAM stands for Unclaimed Deposits - Gateway to Access Information. It's an online portal launched by the RBI to help people find unclaimed deposits across multiple banks in one place. 


Why is the UDGAM Portal a game-changer?  

It simplifies the process of locating unclaimed deposits, empowering users to navigate complexities and potentially claim forgotten funds. 


Who can use the UDGAM Portal?  

Anyone can use it to search for unclaimed deposits belonging to themselves or others. 


Are all banks part of UDGAM? 

No, as of March 4, 2024, 30 banks representing 90% of unclaimed deposits are included. More banks are joining soon. 


What types of deposits can be found on UDGAM? 

You can search for unclaimed deposits that are part of the RBI's Depositor Education and Awareness (DEA) Fund. 


How do I claim unclaimed deposits through UDGAM?  

UDGAM helps you find them. To claim, you'll need to contact the specific bank where the deposit is held. 


Do I need to register to use UDGAM? 

Yes, registration requires your name and mobile number. 


How do I search for unclaimed deposits for individuals? 

Provide the account holder's name, bank(s), and any of these: PAN, driver's license number, voter ID, passport number, or date of birth. 


How do I search for unclaimed deposits for non-individuals? 

Provide the entity name, bank(s), and any of these: authorized signatory name, PAN, CIN (Company Identification Number), or date of incorporation. 


What if I don't have any of that information? 

You can try searching by the account holder or entity's address. 


What is a UDRN (Unclaimed Deposit Reference Number)? 

It's a unique number assigned to each unclaimed account for privacy. It helps banks handle claims from UDGAM searches. 


Do I get the UDRN from UDGAM? 

No, UDGAM won't reveal the UDRN. You'll receive it from the bank during the claim process. 


Is there a user manual for UDGAM? 

Yes, the portal offers a user manual to guide you through registration and search functionalities. 


Where can I find the list of banks on UDGAM? 

The list is available on the UDGAM homepage (https://udgam.rbi.org.in/unclaimed-deposits/#/login) and in the RBI press release dated October 5, 2023. 


What happens if my bank isn't on UDGAM yet? 

 The remaining banks are being onboarded, so stay updated. 


Are there any fees for using UDGAM? 

No, searching for unclaimed deposits through UDGAM is free. 


Why did the RBI create UDGAM?  

As part of their commitment to financial awareness, the RBI aims to empower users to manage unclaimed funds effectively. 


How does UDGAM promote financial awareness? 

It simplifies claiming forgotten deposits, potentially putting money back into people's hands. 


What else can I do to be financially aware?  

Explore other RBI resources and stay informed about financial products and services. 


Where can I learn more about financial literacy? 

Many resources are available online and through financial institutions. Consider reaching out to your bank for guidance. 


How Would You Rate This Article ?