Ever wondered if your grandparents left behind unclaimed money in banks? The Reserve Bank of India (RBI) has a smart solution – the UDGAM portal! It's like a treasure map that helps you find forgotten deposits, and it's super easy to use.
The RBI launched UDGAM to tackle unclaimed deposits. This portal is like a detective that helps you locate money that's been sitting idle in banks. It's a big leap forward in making banking better for everyone.
Imagine, your grandparent's hard-earned money lying forgotten. UDGAM ensures that these unclaimed deposits find their way back to the rightful owners – you!
The RBI first mentioned this clever portal in April, and now it's here to help. They've been running campaigns to spread the word about forgotten money, encouraging people like you to claim what's rightfully yours.
Sanchit Garg, CEO & Co-Founder of GLC Wealth, thinks it's amazing. He said, "RBI's UDGAM portal is like a friendly guide. It helps you find old accounts that you might have forgotten. They've even created a campaign called '100 days 100 pays' to help people reconnect with their lost money."
Using UDGAM is like unlocking a treasure chest. You can do it in 5 simple steps:
Step 1: Sign Up: Visit udgam.rbi.org.in and sign up using your mobile number. Just like joining a cool club!
Step 2: Verify with OTP: You'll get a special code on your phone. Enter it on the portal.
Step 3: Login: Put in your phone number and password to log in. They'll send you another code to be extra sure it's you.
Step 4: Search Time: Type in the account holder's name, and if you have any ID proofs like PAN, Voter ID, or DOB, that helps too. You can even add an address to narrow it down.
Step 5: Check the Treasure: Once you've got the details right, the portal will show if there's any forgotten treasure waiting for you.
It's like magic – all your forgotten deposits revealed in just a few clicks!
This super smart portal works with banks like Central Bank of India, DBS Bank India Limited, Dhanlaxmi Bank Limited, Punjab National Bank, South Indian Bank Limited, and State Bank of India. And don't worry if your bank isn't there yet, they're adding more soon.
Remember, this isn't some complicated thing. It's a friendly tool from RBI to help you find money that's rightfully yours. It's all about making banking easy and transparent, so you can trust the system.
So, go ahead, use UDGAM, and find out if your grandparents left behind some hidden treasure. It's your money, and UDGAM is your key to unlocking it!