India has ₹35,000 Crores of Unclaimed Bank Deposits
UDGAM Portal Launch
India has ₹35,000 crores of unclaimed bank deposits. In August 2023, Reserve Bank Of India launched the UDGAM portal to help people find and claim unclaimed deposits.
New Banks Added
Only 7 banks were available then, but now it has ~30 banks online. This covers 90% of the unclaimed amount.
How to Find Unclaimed Deposits?
Register/Login.Enter any 1 search criteria.Select relevant banks.Find your unclaimed deposits.You can even select all banks at a time!
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Looking Forward
Many FDs, RDs and savings/ current accounts in India are inactive. This move by the RBI will solve this problem to a great extent.