New Economic Policy & Govt. Sector
RBI Introduces UDGAM Portal
- The Reserve Bank of India (RBI) has unveiled a groundbreaking solution for individuals seeking their unclaimed deposits.
- UDGAM (Unclaimed Deposits – Gateway to Access Information) portal.
- This centralized web platform is designed to simplify the process of locating unclaimed deposits across various banks.
Note
- RBI collaborated with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and select banks to develop this platform.
- Currently, the UDGAM portal provides access to unclaimed deposit information from seven banks.
- Including prominent names like State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank India and Citi Bank.
- For other banks, the search feature will be introduced in phases by October 15, 2023.
About RBI
- Governor – Shaktikanta Das
- HQ – Mumbai
- Established – April 1, 1935
