Imagine your bank account is inactive for the past ten years and you can’t access it, your deposits in that account are unclaimed. But now You can get assistance from RBI UDGAM in this situation that helps you to reclaim your deposits. The Reserve Bank of India (RBI) established its centralized website, UDGAM (Unclaimed Deposits – Gateway to Access Information). 

The Reserve Bank of India (RBI) is the regulatory body that monitors the nation’s monetary system’s regulation. RBI is a department under the Indian Ministry of Finance, it is responsible for the allocation, maintenance, and supervision of the Rupee.

Recently, the phrase “RBI UDGAM” has gained popularity in the financial community and denotes the emergence of a new initiative or program. We’ll go into great detail about RBI Udgam in this blog post.

RBI UDGAM & Unclaimed Deposits:

You can search for unclaimed deposits across several banks using the UDGAM platform. You have the option of either claiming your deposit funds or active you inactive account. This move by the RBI is a response to the rising trend of unclaimed deposits, a problem that the central bank has been aggressively addressing through awareness efforts. 

If you’re unsure of what are the unclaimed deposits, this blog will explain it to you. Unclaimed deposits are the sum in a savings or current account that hasn’t used for ten years. They can also be term deposits that haven’t redeemed within ten years of maturity.

You can retrieve your deposits with all accumulated interest on Depositor Education and Awareness (DAE) funds, a department of RBI.

How UDGAM works:

The process of detecting and reclaiming deposits has become more effective and easy with the UDGAM platform. Only seven banks have access to unclaimed cash through the UDGAM site.

RBI’s partnership with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and other selected banks developed UDGAM.

This feature will gradually introduced in phases, with completion anticipated by October 15, 2023. These seven banks are the State Bank of India, Punjab National Bank, South Indian Bank, Central Bank of India, Dhanlaxmi Bank, DBS Bank, and Citibank.

Steps to register:

  • You must go to the UDGAM webpage to claim the unclaimed deposit and complete the registration.
  • Registration requires your mobile number, name, password, and successful completion of the CAPTCHA.
  • OTP (one-time password) Verification: you must enter the OTP you will receive on your registered mobile number.
  • Log in: you will directed to the login page where you have to enter you’re registered phone number and password.
  • You will receive A second OPT on your registered mobile number as additional security. You can access the website after you enter it.
  • You must now fill out the necessary information, which includes the account holder’s name and the name of the bank. Then select at least one search criterion from the PAN, voter ID, license or passport number, or date of birth selections.
  • The system will retrieve and show information about your unclaimed deposits after you click search.


UDGAM offers hope to anyone who may have lost track of their financial resources. Each citizen has access to legitimate money, which the RBI wants to make sure they may regain. UDGAM is a step that conveys that our monetary well-being should not be neglected in fast-paced financial environment. We can reactivate dormant accounts, locate lost wealth, and better manage our finances.

There’s no need to wait any longer to claim your unclaimed deposits since you already know about UDGAM and the procedure for doing so.

Additional links:

Thank you for reading our blog! We hope you are able to apply these learnings 🙂 Here are some other blogs/LinkedIn articles for you to check out.

About FatakPay: 

FatakPay provides virtual credit facilities for all. It’s available on your phone and caters to your everyday needs in both online and offline formats. The solution provides an almost zero cost, free, quick, transparent and secure way to transact in a multilingual format with a Scan Now, Pay Later facility and easy repayment options.

Link to FatakPay App:

Link to the Website:

Write A Comment