Participating Banks: Discover which banks’ unclaimed deposits are available on the UDGAM portal

Unclaimed deposits in banks have been a recurring concern, both for financial institutions and account holders. Over time, accounts can become dormant due to various reasons, leading to unclaimed deposits. To address this issue and facilitate the rightful return of funds to account holders, the Unclaimed Deposits Growth and Accountability Mechanism (UDGAM) portal was established. This portal serves as a platform to identify and manage unclaimed deposits from various participating banks, ensuring transparency, accountability, and ease of access.

Understanding Unclaimed Deposit Banks

Unclaimed deposits refer to funds held by banks that have not been accessed or utilized by the account holders for a prolonged period. This can occur due to a variety of reasons, including account holders’ relocation, change of contact information, or simply neglect. Unclaimed deposits can encompass savings accounts, fixed deposits, matured insurance policies, and more. These deposits are considered inactive, and banks are obligated to make reasonable efforts to contact the account holders. However, despite these efforts, unclaimed deposits can accumulate over time, leading to the need for a comprehensive solution.

Introducing the UDGAM Portal

The UDGAM portal is a technological initiative introduced by regulatory bodies in collaboration with participating banks to address the issue of unclaimed deposits. UDGAM stands for “Unclaimed Deposits Growth and Accountability Mechanism.” The portal serves as a central repository where participating banks can upload information regarding unclaimed deposits in their custody. This information includes details of the account holders, the nature of the deposits, and the corresponding amounts. The portal uses advanced data analytics and matching algorithms to identify potential matches between the unclaimed deposits and account holders.

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Participating Banks and UDGAM Portal: Key Insights

Identifying the Participating Banks

Participating banks are financial institutions that have voluntarily chosen to be part of the UDGAM initiative. These banks recognize the importance of addressing the issue of unclaimed deposits and are committed to reuniting account holders with their funds.

Benefits of Participating

Banks that participate in the UDGAM portal demonstrate their dedication to customer service and financial responsibility. By making their unclaimed deposits available on the portal, these banks exhibit transparency and accountability, allowing account holders to easily identify and claim their funds.

Listing Unclaimed Deposits

Participating banks list their unclaimed deposits on the UDGAM portal, providing essential details such as the account holder’s name, account number, type of deposit, and the amount. These details help individuals search for their unclaimed deposits and initiate the process of claiming them.

Streamlining the Claims Process

The UDGAM portal acts as an intermediary between account holders or beneficiaries and participating banks. This streamlines the claims process, reducing the bureaucratic hurdles that may otherwise deter individuals from reclaiming their unclaimed deposits.


The UDGAM portal and the concept of participating banks have played a crucial role in addressing the issue of unclaimed deposits. By voluntarily listing their unclaimed deposits on the portal, these banks contribute to increased transparency, improved customer service, and more effective management of dormant accounts. 

Unclaimed deposit banks, in this context, hold a significant responsibility in safeguarding and reuniting individuals with their rightful funds, ultimately fostering financial trust and accountability. As the UDGAM initiative continues to evolve, it is hoped that more banks will actively participate, thereby benefiting both the financial institutions and the account holders in the long run.

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1. What are unclaimed deposit banks?

Unclaimed deposit banks are financial institutions that hold dormant accounts containing funds that have been inactive for an extended period, often due to reasons such as negligence, change of address, or the passing away of the account holder without proper beneficiary information.

2. What is the UDGAM portal?

The UDGAM portal, short for Unclaimed Deposits Grievance Management, is a centralized platform introduced by the Indian government to help participating banks list their unclaimed deposits. It facilitates the process of reuniting account holders or beneficiaries with their unutilized funds.

3. What role do participating banks play on the UDGAM portal?

Participating banks voluntarily list their unclaimed deposits on the UDGAM portal. By doing so, they demonstrate transparency and accountability, making it easier for individuals to identify and claim their dormant funds. This contributes to streamlining the claims process and fostering better financial management.

4. What benefits do participating banks gain from using the UDGAM portal?

Participating banks benefit from increased customer service, transparency, and financial responsibility. By listing unclaimed deposits on the portal, they exhibit a commitment to reuniting account holders with their rightful funds and contribute to more efficient management of dormant accounts.

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