RBI Launches 'Udgami' Portal to Track Unclaimed Deposits
The Reserve Bank of India (RBI) launched the 'Udgami' (Unclaimed Deposits – Gateway to Access inforMation) portal on May 10, 2026, to provide a centralized platform for citizens to search for and claim their long-pending unclaimed deposits across multiple banks. This initiative is a crucial part of the RBI's '100 Days 100 Pays' campaign, aiming to return dormant funds to their rightful owners and enhance transparency in the banking system.
2-Minute Summary (TL;DR)
- The **Udgami** portal, launched by the **Reserve Bank of India (RBI)** on **May 10, 2026**, is a centralized web platform.
- Its full form is **Unclaimed Deposits – Gateway to Access inforMation**.
- The portal allows users to search for unclaimed deposits across multiple banks in a single location.
- An unclaimed deposit refers to funds in accounts that have remained inoperative for **10 years or more**.
- The initiative is part of the **RBI's '100 Days 100 Pays' campaign**, focused on returning unclaimed funds.
- Development of Udgami was undertaken by **Reserve Bank Information Technology Pvt Ltd (ReBIT)** and **Indian Financial Technology & Allied Services (IFTAS)**.
- As of **March 2023**, the total amount of unclaimed deposits transferred to the **Depositor Education and Awareness (DEA) Fund** was **₹48,262 crore**.
- The portal streamlines the **Know Your Customer (KYC)** process for claiming identified deposits.
- Initially, **State Bank of India**, **Punjab National Bank**, **Central Bank of India**, **Dhanlaxmi Bank Ltd.**, **South Indian Bank Ltd.**, **DBS Bank India Ltd.**, and **Citibank N.A.** were integrated.
Why In News
The Reserve Bank of India (RBI) recently launched the 'Udgami' portal, a significant step towards addressing the long-standing issue of unclaimed deposits in the Indian banking system. This centralized platform aims to simplify the process for citizens to identify and claim their dormant funds, making it a crucial development in financial consumer protection and banking transparency.
Syllabus Connection
This news connects to the financial sector reforms, regulatory role of RBI, and initiatives for financial inclusion and consumer protection. Students should revise concepts related to banking regulations, depositor rights, and the mechanisms for managing dormant financial assets.
Prelims vs Mains — What to Focus On
| Aspect | Prelims | Mains |
|---|---|---|
| What is Udgami? | RBI's centralized web portal for searching unclaimed bank deposits. | A technological solution to enhance transparency and ease access to dormant funds, fostering financial inclusion. |
| Who launched it? | Reserve Bank of India (RBI). | RBI, as the central banking authority, fulfilling its mandate for consumer protection and financial stability. |
| When was it launched? | May 10, 2026. | Part of ongoing efforts to streamline banking operations and address systemic issues related to unclaimed assets. |
| Why was it launched? | To help citizens find and claim unclaimed deposits across multiple banks. | To reduce the significant amount of dormant funds in the banking system and empower rightful owners. |
| Associated campaign? | '100 Days 100 Pays' campaign. | A targeted initiative by RBI to accelerate the return of unclaimed deposits to beneficiaries. |
How This Topic is Tested in Competitive Exams
| Exam | Frequency | Approx. Marks | What Gets Asked |
|---|---|---|---|
| Banking (IBPS / SBI) | Very High | 6–10 | RBI policy, inflation, CRR/SLR, monetary committee decisions — banking exams test the full spectrum. |
| SSC (CGL / CHSL / MTS) | Medium | 2–4 | Budget highlights, GDP data, and government economic schemes appear in SSC CGL GK section. |
| State PCS / PSC | High | 4–8 | State budget, MSME, agriculture policy, and banking data are common in state PCS papers. |
Key Facts to Remember: RBI Launches 'Udgami' Portal to Track Unclaimed Deposits
- The **Udgami** portal, launched by the **Reserve Bank of India (RBI)** on **May 10, 2026**, is a centralized web platform.
- Its full form is **Unclaimed Deposits – Gateway to Access inforMation**.
- The portal allows users to search for unclaimed deposits across multiple banks in a single location.
- An unclaimed deposit refers to funds in accounts that have remained inoperative for **10 years or more**.
- The initiative is part of the **RBI's '100 Days 100 Pays' campaign**, focused on returning unclaimed funds.
- Development of Udgami was undertaken by **Reserve Bank Information Technology Pvt Ltd (ReBIT)** and **Indian Financial Technology & Allied Services (IFTAS)**.
- As of **March 2023**, the total amount of unclaimed deposits transferred to the **Depositor Education and Awareness (DEA) Fund** was **₹48,262 crore**.
- The portal streamlines the **Know Your Customer (KYC)** process for claiming identified deposits.
- Initially, **State Bank of India**, **Punjab National Bank**, **Central Bank of India**, **Dhanlaxmi Bank Ltd.**, **South Indian Bank Ltd.**, **DBS Bank India Ltd.**, and **Citibank N.A.** were integrated.
Practice Questions
Q1. What is the full form of the 'Udgami' portal recently launched by the RBI?
- Unclaimed Deposits – Gateway to Access inforMation
- Unified Digital Gateway for Account Management Information
- Universal Data Gathering and Management Initiative
- Unclaimed Deposits – General Access to Monetary Information
Explanation: The full form of Udgami, as stated by the Reserve Bank of India, is 'Unclaimed Deposits – Gateway to Access inforMation'. This acronym clearly defines its primary purpose of facilitating access to information regarding unclaimed deposits.
Q2. An account is classified as an 'unclaimed deposit' if it has remained inoperative for a period of:
- 5 years or more
- 7 years or more
- 10 years or more
- 15 years or more
Explanation: According to the Reserve Bank of India's guidelines, a deposit account is categorized as 'unclaimed' if there have been no transactions or operations for a continuous period of 10 years or more. These funds are then transferred to the Depositor Education and Awareness (DEA) Fund.
Q3. The 'Udgami' portal was developed by which entities?
- National Payments Corporation of India (NPCI) and Indian Banks' Association (IBA)
- Reserve Bank Information Technology Pvt Ltd (ReBIT) and Indian Financial Technology & Allied Services (IFTAS)
- Ministry of Finance and State Bank of India
- Securities and Exchange Board of India (SEBI) and National Securities Depository Limited (NSDL)
Explanation: The Udgami portal was a collaborative effort. It was developed by Reserve Bank Information Technology Pvt Ltd (ReBIT), a wholly-owned subsidiary of the RBI, and Indian Financial Technology & Allied Services (IFTAS), another RBI subsidiary, which provides technology solutions to the financial sector.
Q4. Which RBI campaign is the Udgami portal closely associated with, aiming to return unclaimed money?
- 'Jan Dhan Se Jan Suraksha' campaign
- 'Digital India' campaign
- '100 Days 100 Pays' campaign
- 'Financial Inclusion for All' campaign
Explanation: The Udgami portal is a key component of the RBI's '100 Days 100 Pays' campaign. This specific campaign was launched with the objective of tracing and settling the top 100 unclaimed deposits of every bank in every district within a 100-day timeframe, emphasizing a proactive approach to returning funds.
Q5. As of March 2023, approximately how much amount was transferred to the Depositor Education and Awareness (DEA) Fund due to unclaimed deposits?
- ₹25,000 crore
- ₹35,000 crore
- ₹48,262 crore
- ₹60,000 crore
Explanation: According to official data from the Reserve Bank of India, as of March 2023, a substantial amount of ₹48,262 crore had been transferred to the Depositor Education and Awareness (DEA) Fund. This highlights the significant scale of the unclaimed deposits issue that the Udgami portal aims to address.
How to Prepare Economy & Finance for Government Exams — RBI Launches 'Udgami' Portal to Track Unclaimed D…
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