Unclaimed Money

Finance Minister calls for coordinated district-level camps and inter-agency cooperation to return unclaimed amounts to rightful owners

RBI UDGAM Portal: Track Your Unclaimed Bank Deposits in Seconds

PSUs have transferred over Rs 35,000 crore to the Reserve Bank of India. To facilitate the rightful heirs' access to these unclaimed assets, the RBI has launched an online portal called UDGAM, which will be fully operational from October 16, 2023. Its primary objective is centralising data from different banks, which will make it easier for individuals to search and retrieve their forgotten deposits. Here is how it will work

Demonetisation: No gains in sight

Deposits collected by banks of derecognised Rs 500 and 1,000 rupees are close to Rs 12 lakh crore as of last week according to reliable information available with our channel and this figure doesn‘t include monies collected by post offices and a few other outlets who are allowed to accept old notes.