Information of these banks is available on UDGAM portal, crores are lying in the banks, there are no claimants
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RBI Launches UDGAM Portal: Banks have unclaimed deposits on which there is no one to claim. Now the news is related to such amount only. Yes… Now it will be easy to find out this type of amount. This will give great relief to those people whose grandfather-great-grandfather or other relatives had forgotten to deposit money.
Actually, on August 17, 2023, the Reserve Bank of India i.e. RBI has launched an online portal. Through RBI’s Unclaimed Deposits – Gateway to Access Information Portal (UDGAM Portal), you can get information about unclaimed amount deposited in various banks at one place.
RBI has introduced centralized web portal Udgam on which people are reaching after searching. The objective of this initiative is to help people to find out about the unclaimed amount and claim it. RBI Governor Shaktikanta Das launched the portal Udgam (Unclaimed Deposits – Gateway to Access Information). It has been prepared by the central bank so that people can easily find their unclaimed deposits in multiple banks at one place and claim them.
Which banks are getting information
Talking about the portal, at present seven banks… State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank, South Indian Bank, DBS Bank India and Citibank… about unclaimed deposits. People are getting information. Let us tell you that in the bi-monthly monetary policy review on April 6, 2023, the Reserve Bank had announced the creation of a centralized web portal to find out unclaimed deposits, after which it was launched on Thursday.
What did RBI say in the statement
A statement has been issued by RBI in this regard. It states that in view of the increasing trend in the number of unclaimed deposits, it is running public awareness campaigns from time to time to make people aware about it. The launch of the web portal will help people to identify their unclaimed deposit accounts and they can either claim the deposit amount or activate their deposit accounts with their respective banks.
Reserve Bank of India Information Technology Pvt Ltd (REBIT), Indian Financial Technology and Allied Services (IFTAS) and participating banks have collaborated in developing the portal. According to the statement, currently users will be able to get details of their unclaimed deposits in respect of seven banks available on the portal. The facility of ascertaining such amount for other banks on the portal will be made available in a phased manner by October 15, 2023.
SBI tops unclaimed deposits with Rs 8,086 crore
Let us discuss here that public sector banks had transferred unclaimed deposits of about Rs 35,000 crore to RBI till February 2023. These were those deposit accounts which were not operated for 10 years or more. State Bank of India (SBI) continues to top the list of unclaimed deposits with Rs 8,086 crore. It is followed by Punjab National Bank (Rs 5,340 crore), Canara Bank (Rs 4,558 crore) and Bank of Baroda (Rs 3,904 crore).
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