RBI Introduces UDGAM Portal – Your Guide to Reclaiming Unclaimed Deposits In a recent move aimed at empowering account holders and enhancing transparency in the financial sector, the Reserve Bank of India (RBI) has introduced the ‘UDGAM’ portal. This revolutionary initiative is set to transform the way unclaimed deposits are managed and reclaimed. With its…
RBI Launches “100 Days, 100 Pays” Campaign to Settle Unclaimed Deposits The Reserve Bank of India (RBI) has recently launched a new initiative called “100 Days, 100 Pays” to address the issue of unclaimed deposits in banks. With this campaign, the RBI aims to ensure that rightful depositors receive their money and promote financial inclusivity….
Unclaimed Deposits Transfer: Public sector banks transfer ₹35,012 cr unclaimed deposits to RBI As of February 2023, public sector banks (PSBs) in India have transferred unclaimed deposits worth ₹35,012 crore ($4.7 billion) to the Reserve Bank of India (RBI), according to a report by the central bank. The transfer of these funds was made under…
