WEB
PORTAL UDGAM - GOVERNANCE
News:
The
UDGAM portal launched by the Reserve Bank of India (RBI)
What's
in the news?
●
The Reserve Bank of India (RBI) recently
launched a Centralised Web Portal, UDGAM (Unclaimed Deposits Gateway to Access
inforMation), for the public to search for their unclaimed deposits across
multiple banks at one place.
.
About
UDGAM:
●
It has been developed by RBI for use by members of public to facilitate and
make it easier for them to search their unclaimed deposits across multiple
banks at one place.
●
Reserve Bank Information Technology Pvt
Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and
participating banks have collaborated on developing the portal.
●
The portal will enable users to either
claim the deposit amount or make their deposit accounts operative at their
respective banks.
Procedure:
●
Customers can register on the 'Udgam'
platform using their mobile number.
●
Once registered, they can search for
unclaimed deposits under their name and provide additional inputs such as PAN,
voter ID, driving licence and passport number.
●
Customers can then retrieve their deposits
by completing a KYC process with their branch.
●
In case the deposit-holder has passed
away, their nominee will be required to submit documents.
Significance:
●
Centralized Database
●
User-Friendly Interface
●
Easy Claims Process.