Customers can register on ‘Udgam’ (Unclaimed deposits – gateway to access information) 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.
As unclaimed deposit volumes have increased, RBI has conducted public awareness campaigns to encourage the public to approach their banks to recover unclaimed deposits.
The development of the portal has been a collaborative endeavour involving the Reserve Bank Information Technology (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and the participating banks, RBI said.
