Rurash Financials Private Limited | Unlisted Equity Investments in India, Leading Stock Brokers and Stock Dealers in India

In the realm of modern finance, the Reserve Bank of India (RBI) has unveiled a groundbreaking solution to address a pervasive issue—unclaimed bank deposits. This solution, aptly named the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal, represents a pivotal development in the realm of financial transparency and accessibility. In this expertly crafted blog, we will delve into the intricacies of the UDGAM portal, dissecting its purpose, functionality, and the essential steps required for individuals to navigate this innovative platform. Understanding the UDGAM portal is not merely an option; it is an imperative for individuals seeking to reclaim their unclaimed bank deposits effectively.

The Purpose of the UDGAM Portal

The RBI’s UDGAM portal functions as a user-friendly tool designed to aid individuals in effortlessly locating their unclaimed deposits. Its primary goal is to centralize data from multiple banks into a single, easily accessible repository. With the escalating prevalence of unclaimed deposits, the RBI has been actively promoting awareness campaigns to educate the public about this issue. Through UDGAM, the RBI seeks to empower citizens to identify their unclaimed deposits and engage with their respective banks to initiate the reclaiming process.

Unclaimed deposits can manifest in various forms, including dormant savings accounts, fixed deposits, recurring deposits, and more. Over time, these deposits accumulate and remain unclaimed due to factors such as:

  1. Change of Address: People frequently relocate to different cities or countries, making it challenging to keep tabs on their accounts.
  2. Forgetfulness: With numerous bank accounts, individuals may inadvertently overlook some of them, especially if these accounts were opened for specific purposes or held for short durations.
  3. Deceased Account Holders: In certain instances, the account holders may have passed away, and their heirs or legal representatives may be unaware of the existence of these accounts.
  4. Incomplete Documentation: Missing or outdated contact information and incomplete documentation can hinder communication between banks and account holders.
  5. Bank Mergers: Mergers and acquisitions within the banking sector can complicate the process of locating accounts held with the merged banks.

How UDGAM Operates

The UDGAM portal simplifies the procedure of identifying and reclaiming unclaimed deposits by streamlining the necessary steps. The RBI collaborated with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and select banks to develop this platform.

As of the present, the UDGAM portal provides access to information regarding unclaimed deposits from seven banks, including prominent institutions like State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank India, and CitiBank N.A. For other banks, the search feature will be introduced in phases by October 15, 2023, ensuring that a broader spectrum of individuals can benefit from this invaluable resource.

Registration Process on the UDGAM Portal

Commencing your journey with the UDGAM portal is a straightforward process. Follow these steps to register and initiate your quest for unclaimed deposits:

  1. Visit the Portal: Navigate to the UDGAM portal at
  2. Register: On the portal’s homepage, locate the registration section. Fill in your mobile number, name, password, and the provided CAPTCHA. After completing the form, submit your details.
  3. OTP Verification: An OTP will be dispatched to your registered mobile number. Enter this OTP to proceed with the registration process.
  4. Login: Utilize your registered mobile number and password to access your UDGAM account.
  5. Additional OTP: Upon entering your login credentials, you will be prompted to input another OTP for enhanced security.
  6. Enter Search Criteria: You will be directed to a page where you need to input the account holder’s name and the bank’s name. Additionally, choose at least one search criterion from options like PAN, Voter ID, Driving License Number, Passport Number, or Date of Birth.
  7. Initiate Search: Click on the search button to prompt the system to retrieve and display details of your unclaimed deposits.

Why UDGAM Holds Significance

The UDGAM portal constitutes a game-changer for both individuals and the banking sector. Here’s why it carries such significance:

  1. Simplified Process: Historically, locating and reclaiming unclaimed deposits has been a convoluted and time-consuming endeavor. UDGAM simplifies this process, rendering it accessible to anyone with an internet connection.
  2. Centralized Information: By consolidating data on unclaimed deposits from multiple banks, UDGAM obviates the need for individuals to navigate various bank websites and procedures, streamlining the search and reclaiming process.
  3. Awareness and Empowerment: The RBI has been actively fostering awareness about unclaimed deposits, and UDGAM plays a pivotal role in empowering individuals to take charge of their financial assets.
  4. Transparency: The portal bolsters transparency by furnishing individuals with comprehensive information regarding their unclaimed deposits, encompassing details like the bank’s name, account holder’s name, and the type of deposit.
  5. Expansion Plans: The UDGAM portal’s plan to include additional banks in the future implies that even more individuals will have access to this invaluable resource.
  6. Financial Security: Reclaiming unclaimed deposits endows individuals with a sense of financial security and the opportunity to reinvest or utilize these funds to enhance their financial well-being.


In a swiftly evolving financial milieu, the UDGAM portal stands as a testament to the RBI’s dedication to financial inclusion and transparency. It constitutes a tool that empowers individuals to track down and reclaim their unclaimed bank deposits with consummate ease.

At Rurash Financials, we firmly believe in the significance of financial empowerment, and the UDGAM portal impeccably aligns with our mission to simplify financial services for Indian retail consumers.

Therefore, if you possess unclaimed deposits awaiting rediscovery, do not hesitate to explore the UDGAM portal and seize control of your financial destiny.

Remember, every rupee reclaimed is an investment in your financial well-being, and UDGAM is here to facilitate your journey towards financial security and prosperity. Reclaim what is rightfully yours and embark on the path to financial stability and affluence.