RBI Launches UDGAM Portal
On 17th August, 2023, the Reserve Bank of India launched a centralised web portal-UDGAM (Unclaimed Deposits – Gateway to Access inforMation).
Unclaimed deposits have become a growing concern, prompting the RBI to develop strategies to raise public awareness about the importance of claiming these funds.
The portal aims to help users identify their unclaimed deposits/accounts and enable them to either claim the deposit amount or make their deposit accounts operative at their respective banks.
- The development of the portal is a collaborative effort involving the Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks. ....
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