India - UDGAM - Centralised Web Portal For Searching Unclaimed Deposits.

August 23, 2023 by Rohin Pujari

On August 17, 2023, RBI launched a central web portal called UDGAM (Unclaimed Deposits – Gateway to Access inforMation) to simplify the search for unclaimed deposits across various banks. The aim to introduce this portal is to tackle the growing issue of unclaimed deposits.

The portal allows users to locate and claim their deposits or activate dormant accounts. It is developed in collaboration with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS) and participating banks.

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For further information, please contact:

Vineet Aneja – Clasis Law,
vineet.aneja@clasislaw.com

Vineet heads Clasis Law and shares his time between the Delhi and Mumbai offices. He has extensive experience working with both Indian and foreign companies, as well as with government authorities.

Vineet’s corporate practice includes advising on mergers and acquisitions, joint ventures, private equity and investment funds on a full range of corporate clients on general corporate matters and in the areas of capital markets, project finance, regulatory and real estate.

Vineet’s skill set includes a deep transactional understanding as well as significant industry expertise across industries as diverse as manufacturing, media, medical devices, fashion, insurance, technology, telecommunications, infrastructure, hospitality, retail and financial services. Client feedback has highlighted the value his experience adds to both the legal and commercial sides of transactions.