The Reserve Bank of India (RBI), on October 6, 2023, announced that it has onboarded 30 banks on the UDGAM portal since the initial seven during its launch in August 2023. The portal helps customers to check their unclaimed deposits with banks. At the time, RBI had announced to onboard all banks in a phased manner by October 15, 2023, a week away from now.

RBI said that as of September 28, 2023, the portal has 30 banks, accounting for around 90 per cent of the total unclaimed deposits in the Depositor Education and Awareness (DEA) Fund.

These banks include the State Bank of India, Punjab National Bank, Central Bank of India, Canara Bank, Bank of Baroda, HDFC Bank, Federal Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and foreign banks, like Citibank, Standard Chartered Bank, and HSBC Bank.

The portal allows account holders and their family members to search for unclaimed deposits with banks under a single platform for convenience. As of February 2023, around Rs 35,000 crore worth of unclaimed deposits were with DEA. Banks send the unclaimed deposits of account holders lying in their accounts for 10 or more years to RBI’s DEA Fund.

According to a PTI report in August, banks have transferred unclaimed deposits worth Rs 48,461.44 crore related to 16,79,32,112 accounts to DEA as of March 31, 2023.

Given this massive volume of unclaimed deposits with DEA, the UDGAM portal is expected to come in handy for customers to search for their unclaimed funds on a single platform.

Here’s how to use the portal in a step-by-step process.

Step 1: Open the UDGAM website https://udgam.rbi.org.in/unclaimed-deposits/#/login and log in with credentials, mobile number, password, and captcha code. Click on next.

Step 2: A one-time password (OTP) will be sent to the phone number given. Enter that and click on log in.

Step 3: On the new page, type the account holder’s name and select the bank from the drop-down list.

Step 4: Select any one of the options (PAN, Voter ID, Driving license, Passport number, and Date of birth) and fill in the details. If one does not have these details, then there are additional criteria of address and state, which one may fill in to search the deposits.

Step 5: Click on the search button. If the bank has any unclaimed deposit in the account holder’s name, it will display on the screen. If you don’t know the bank’s name, select ‘ALL’ from the banks’ drop-down list. The portal will search all the banks with the accountholder’s details provided and give the result in less than a minute.

If the search cannot be performed on a few banks, a notification will appear at the bottom of the page, saying, ‘Please note that the search operation could not be performed on a few banks. ‘Click here’ to know more. By clicking that, bank names that could not be found in the search will appear. The account holder can search for those banks separately.