RBI Urges Savers to Search Old Accounts on the UDGAM Portal

The Reserve Bank of India has been encouraging people to look for forgotten money in old bank accounts through a search portal called UDGAM, short for Unclaimed Deposits, Gateway to Access Information. The portal lets savers and the families of deceased account holders check, in one place, whether banks hold dormant balances in their names. This article explains how unclaimed deposits are defined, what happens to the money, how the portal works, and how a person can claim a balance, using reporting from Business Today dated July 1, 2026 and from the Free Press Journal on the RBI's awareness campaign. It is a general guide based on public reporting and is not legal or financial advice. Readers should confirm details with their bank and the RBI.

What counts as unclaimed

According to Business Today, under RBI rules a savings or current account balance that has been inoperative for 10 years or more counts as an unclaimed deposit, as does a fixed deposit that has gone unclaimed for 10 years after maturity. The article's list of covered items also includes recurring and cumulative deposits left unclaimed after maturity, outstanding demand drafts and pay orders, unclaimed NEFT and unreconciled ATM credits, and other balances specified by the RBI. It also names items such as margin money, security deposits, bankers' cheques and undrawn prepaid card balances. The reports we reviewed do not give a total value of unclaimed deposits, so this article does not state one.

Where the money goes

Banks transfer unclaimed balances to the RBI's Depositor Education and Awareness Fund, known as the DEA Fund, which has been maintained since May 2014. The transfer happens on the last working day of the month after 10 years of continuous inactivity or unclaimed status. The important point is that the transfer does not end the depositor's ownership. The depositor, or the legal heirs, can claim the money at any time through the original bank, and there is no time limit for claiming money transferred to the fund. Interest-bearing deposits continue to earn interest under RBI guidelines. The bank pays the eligible interest to the claimant first and then seeks reimbursement from the fund.

How the UDGAM portal works

UDGAM is the RBI's centralised search platform at udgam.rbi.org.in. Business Today reports that it covers 30 participating banks. An individual first registers with a name and mobile number. A search then uses the account holder's name, the bank and one or more identifiers such as PAN, passport number, voter ID, driving licence or date of birth. Businesses can search with the entity name together with PAN, Corporate Identification Number, authorised signatory or date of incorporation. If identity details are not available, the article says an address-based search is possible.

The portal does not release money. It shows which bank holds an unclaimed deposit so that the person can approach that bank. Savers should note that banks outside the participating list will not appear in the search, so a person who suspects an account at another bank may need to contact it directly.

The claim process

The steps reported are simple. First, search on the UDGAM portal or on the bank's own website. Second, visit any branch of the bank concerned, which does not have to be the branch where the account was opened. Third, submit the prescribed claim form with valid KYC documents. The documents accepted include Aadhaar, passport, voter ID and driving licence. Fourth, the bank verifies the claim. Fifth, the bank pays the money, plus interest where it applies. Legal heirs may need extra documents, such as a death certificate and proof of relationship, and readers should ask the bank which ones it needs. Our sources did not list these.

The RBI campaign

The Free Press Journal reported that the RBI and banks ran a nationwide awareness campaign titled Jankaar Baniye, Satark Rahiye, which roughly means be informed and stay alert. Special camps were held across districts between October and December 2025 to help customers and legal heirs gather documents and begin claims. The campaign encouraged people to check for forgotten deposits of their own and of family members. Reports said the RBI has also asked banks to simplify claim procedures and help customers verify ownership.

How to avoid the problem

The RBI advises customers to review old accounts, update nominee details and keep KYC records current. A few practical habits help. Keep a list of every bank account and fixed deposit, including those opened for old jobs. Make at least one transaction a year on savings accounts to keep them active. Tell family members where accounts are held and who the nominee is. When closing a job, move the salary account to a standard savings account and keep it operative.

A caution about scams

Because the portal asks for personal details, readers should use only the official address named above or the websites of their banks. Callers or messages that ask for payment to release unclaimed money are not part of the process described in the reports. Our sources did not mention any fees, so readers should ask their bank before paying anything.

What to watch next

Readers can check whether more banks are added to UDGAM and whether the RBI repeats its camps. The RBI publishes announcements on its website, and banks list their own unclaimed deposits on their sites. This article summarises public reporting and is not financial advice.