The Reserve Bank of India (RBI) has enrolled 30 banks in its Centralized Web Portal UDGAM (Unclaimed Deposits - Gateway to Access inforMation), which enables the public to more easily search for their unclaimed deposits across several banks from a single location. The Depositor Education and Awareness (DEA) Fund contains around 90% of such unclaimed deposits (in value terms), according to the RBI, and the search function for 30 banks was made available on the portal on September 28, 2023. On August 17 of this year, the RBI introduced the UDGAM online site, with the search function originally being made available on the platform for seven banks.

The search facility for the remaining banks on the portal was to be made available in a phased manner by October 15, 2023. The UDGAM portal has been developed by RBI for use by members of the public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks in one place. Given the increasing trend in the number of unclaimed deposits, RBI has been undertaking public awareness campaigns from time to time to sensitize the public on this matter. Further, through these initiatives, the RBI has been encouraging members of the public to identify and approach their respective banks for claiming unclaimed deposits.