UDGAM Portal: The Reserve Bank of India (RBI) has launched a Centralised Web Portal - UDGAM (Unclaimed Deposits - Gateway to Access information) on Thursday, which will facilitate the account holders of unclaimed deposits across multiple banks to access and withdraw their deposits from one consolidated platform. The launch of the web portal will aid users to identify their unclaimed deposits or accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks. The central bank has said that the move was warranted due to the rising trend in the amount of unclaimed deposits. 

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Earlier, the central bank had announced the setting up of a centralised web portal for searching unclaimed deposits as part of the Statement on Developmental and Regulatory Policies dated April 06, 2023. 

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The RBI has undertaken several public awareness campaigns from time to time to sensitise the public on claiming their unclaimed deposits lying in banks. Further, through these initiatives, the RBI has been encouraging members of public to identify and approach their respective banks for claiming unclaimed deposits. 

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