![The RBI’s UDGAM platform for unclaimed deposits now has 30 banks registered The RBI’s UDGAM platform for unclaimed deposits now has 30 banks registered](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiisTK3cg4jftzdjieHcAyuW9dj4mO8928eMTYJr_2ehwn5F5pYQQoQFB-D6l765iq84up9mVK_ktVtCfNB_mjSA4RCPuNMUZbVuBWyH7ALnJ1RLDLSWWuoA4hBXPm0Glm2QisU3Mm5U6kO84RjgdeROiCJplaxKMGuEmDz0JDkcFRq0Ty43tLexu4EFY71/w320-h192-rw/Copy%20of%20Copy%20of%20Copy%20of%20Untitled%20(500%20%C3%97%20300%20px)%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(1).png)
- It helps customers search for their unclaimed deposits with banks and other financial institutions in India.
- These 30 banks cover around 90% of unclaimed deposits (in value terms) in the Depositor Education and Awareness (DEA) Fund of RBI.
- The remaining banks are in the process of getting on-boarded.
- Customers can register on the UDGAM platform using their mobile number.
- Once registered, they can search for unclaimed deposits under their name and provide additional inputs such as PAN, voter ID, driving license, and passport number.
- However, the UDGAM portal only facilitates the search of unclaimed deposits/accounts across multiple banks at one place and provides information on claim/settlement process of each bank.
- The unclaimed deposits can be claimed only from the respective bank.
Questions:
Q.1 What does UDGAM stand for?a. Unclaimed Deposits- Gateway to Access Money
b. Unclaimed Deposits- Gateway to Access Markets
c. Unclaimed Deposits- Gateway to Access inforMation
d. Unclaimed Deposits- Gateway to Access Management