Udgam: The Center has said that there are crores of unclaimed deposits in banks.
And do you know if it includes your or your relatives' money? Let's see how to check!
Union Minister of State for Finance Bhagwat Karad recently revealed in the Rajya Sabha that unclaimed deposits have increased by 28 percent on an annual basis to Rs 42,270 crore in the financial year ending March 2023. He said that there are deposits of Rs.36,185 crore in public sector banks and Rs.6,087 crore in private sector banks. However, RBI has launched a centralized web portal called Udgam specifically to know the details of such deposits. With some basic details one can find out if there are unclaimed deposits in their name.
Banks classify unclaimed deposits for ten or more years under unclaimed deposits. Banks transfer them to the 'Depositor Education and Awareness (DEA)' fund of the Reserve Bank of India. However.. they can be retrieved by contacting the banks with the relevant credentials. 29 banks are registered in Udgam portal. You can see if there are any unclaimed deposits in your or your relatives' accounts. Nominees or heirs can know the details of unclaimed deposits in case of death of the account holders. If they find that they have it, they can contact the bank with the relevant documents and claim it.
Check this..
Go into the https://udgam.rbi.org.in/unclaimed-deposits/ portal.
Register by mobile number.
Complete the OTP verification and login to the account.
Select your bank along with the name of the account holder. You can also select the option 'All Banks' if you want.
Then in the following line one of the details like Aadhaar, PAN, date of birth of the account holder should be entered. There is an option to give the address as well.
After entering all the details click on search and the information will be in front of you.
However, it is mentioned on the site that the details of some banks may not be available immediately.
The site suggests trying for them later.
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