The governor of the Reserve Bank of India (RBI) on Thursday, has unveiled UDGAM (Unclaimed Deposits - Gateway to Access information), a centralised web service that allows users to “search their unclaimed deposits across numerous institutions at one place.”

“This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place,” RBI said in a press release.

As part of the Statement on Developmental and Regulatory Policies dated April 6, 2023, RBI had announced the creation of a centralised web facility for locating unclaimed deposits. &nbsp;“Given the increasing trend in the amount of&nbsp;unclaimed deposits, RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter. Further, through these initiatives, the RBI has&nbsp;been encouraging members of public to identify and approach their respective banks for claiming unclaimed deposits,” the banking regulator said.

According to RBI, the web portal would help customers find their unclaimed deposits and accounts so they may either submit a claim for the deposit amount or activate their deposit accounts at their respective banks. The platform was created in partnership by participating banks, Indian Financial Technology &amp; Allied Services (IFTAS), and Reserve Bank Information Technology Pvt Ltd (ReBIT).

Users will initially have access to information about their unclaimed deposits from the seven banks now represented on the portal. State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank Ltd, South Indian Bank Ltd, DBS Bank India Ltd, and Citibank N.A. are the seven banks.

RBI said that the search facility for other banks would be made available gradually by October 15, 2023.

What are unclaimed deposits?

In India, there are several inactive savings and current accounts. A sum in an account is regarded as an unclaimed deposit after ten years of inactivity. The same holds true for recurrent and fixed deposits that are not reclaimed within ten years of maturity.

Banks transfer these unclaimed deposits to the Depositor Education and Awareness Fund, which is managed by the RBI.

Although the depositor can go to a bank to retrieve these deposits with interest, the process can be complicated by the decision of which bank to go to and how many banks.

Since visiting each bank and completing the paperwork for each family member can be tedious, RBI has initiated the UDGAM platform, allowing users to search for unclaimed deposits across banks.

Presently, India has unclaimed deposits worth Rs 35,000 crore. RBI’s initiative should ensure awareness about such deposits and provide clarity on how the depositor can make their claims.

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

The governor of the Reserve Bank of India (RBI) on Thursday, has unveiled UDGAM (Unclaimed Deposits - Gateway to Access information), a centralised web service that allows users to “search their unclaimed deposits across numerous institutions at one place.

The governor of the Reserve Bank of India (RBI) on Thursday, has unveiled UDGAM (Unclaimed Deposits - Gateway to Access information), a centralised web service that allows users to “search their unclaimed deposits across numerous institutions at one place.” “This portal has been developed by RBI for use by members of public to facilitate and make it easier for them to search their unclaimed deposits across multiple banks at one place,” RBI said in a press release. As part of the Statement on Developmental and Regulatory Policies dated April 6, 2023, RBI had announced the creation of a centralised web facility for locating unclaimed deposits. “Given the increasing trend in the amount of unclaimed deposits, RBI has been undertaking public awareness campaigns from time to time to sensitise the public on this matter. Further, through these initiatives, the RBI has been encouraging members of public to identify and approach their respective banks for claiming unclaimed deposits,” the banking regulator said. According to RBI, the web portal would help customers find their unclaimed deposits and accounts so they may either submit a claim for the deposit amount or activate their deposit accounts at their respective banks. The platform was created in partnership by participating banks, Indian Financial Technology & Allied Services (IFTAS), and Reserve Bank Information Technology Pvt Ltd (ReBIT). Users will initially have access to information about their unclaimed deposits from the seven banks now represented on the portal. State Bank of India, Punjab National Bank, Central Bank of India, Dhanlaxmi Bank Ltd, South Indian Bank Ltd, DBS Bank India Ltd, and Citibank N.A. are the seven banks. RBI said that the search facility for other banks would be made available gradually by October 15, 2023. What are unclaimed deposits? In India, there are several inactive savings and current accounts. A sum in an account is regarded as an unclaimed deposit after ten years of inactivity. The same holds true for recurrent and fixed deposits that are not reclaimed within ten years of maturity. Banks transfer these unclaimed deposits to the Depositor Education and Awareness Fund, which is managed by the RBI. Although the depositor can go to a bank to retrieve these deposits with interest, the process can be complicated by the decision of which bank to go to and how many banks. Since visiting each bank and completing the paperwork for each family member can be tedious, RBI has initiated the UDGAM platform, allowing users to search for unclaimed deposits across banks. Presently, India has unclaimed deposits worth Rs 35,000 crore. RBI’s initiative should ensure awareness about such deposits and provide clarity on how the depositor can make their claims. WATCH WION LIVE HERE

RBI launches UDGAM, a web portal for locating unclaimed deposits across various banks

India is set to make history. With the launch of the country's third moon mission. Chandrayaan-3 is heading towards the moon. But how much do these moon missions cost?

Chandrayaan-3:  The cost of ISRO's Chandrayaan missions compared

On Inside South Asia with Dasuni Athauda: -'Democracy, Demography, Diversity': 76 years of independent India -Pakistan at 76: Political turmoil in the country continues -Second anniversary of Taliban 2.0: Afghanistan pushed back into an abyss -North India Monsoon Horrors continue -Snake boat race - an iconic Kerala event

India and Pak 76: Two nations, two contrasting journeys

India's third lunar mission is inching closer to the Moon's little-explored south pole where it aims to set down a lander and rover on 23 August.

Chandrayaan-3: Lunar lander Vikram undergoes first successful debossing

The Kashmir government plans to implement a new export policy in the state that will boost the export of the Kashmiri Saffron. The state government has shortlisted 60 countries where the demand for Kashmiri saffron is good.

India: Kashmir govt to introduce new export policy to boost export of saffron

Russian President Vladimir Putin and his Iranian counterparts Ebrahim Raisi discussed Iran's BRICS membership on a phone call. This comes ahead of a meet where Brazil, Russia, India, China and South Africa will discuss possible expansion.

Russia President Vladimir Putin & Iranian President Ebrahim Raisi discuss BRICS membership

India and Taiwan are expected to sign a migration and mobility pact in October strengthening ties between the two&nbsp;sides. The landmark agreement is expected to foster greater people-to-people engagement and facilitate smoother migration between the two nations. The semiconductor industry has emerged as a pivotal area of cooperation, with India seeking to establish a chip manufacturing industry and Taiwan possessing the requisite expertise.

The forthcoming mobility pact holds the potential to significantly increase the influx of Indians into Taiwan. India has previously entered into Migration and Mobility pacts with countries such as France, the UK and Germany, and plans are underway for a similar pact with Italy. The pact, intended to promote the mobility of students, professionals, skilled workers, researchers, and academics, has also been designed to harness India's demographic dividend.

While the talks on signing the pact are underway, the development comes at a time when Taiwan plans to bolster its diplomatic presence in India. The Taipei Economic and Cultural Center (TECC) is set to be inaugurated in Mumbai during the fourth quarter of this year. The TECC will serve as a focal point for enhancing exchanges and collaboration between the two countries. It will offer visa services, document authentication, and emergency assistance, catering to businesspeople, tourists, and Taiwanese nationals across multiple Indian states, especially western states.

Taiwan's investment and business presence in India has been steadily growing. Notably, about 60 per cent&nbsp;of Taiwanese companies that have invested in India and established factories in the country have chosen locations in southern India. The economic collaboration between India and Taiwan has flourished in sectors such as trade, investment, and industry. Bilateral trade has experienced a remarkable surge, increasing from USD 1.19 billion in 2001 to nearly USD 7.7 billion in 2021. With 106 Taiwanese companies currently operating in India, investments amounting to USD 1.5 billion have been made across various sectors, including information technology, medical devices, and automobile components.

This development is occurring against the backdrop of strained India-China relations due to Beijing's aggrieve actions in Ladakh and Arunachal Pradesh. Since the Galwan incident of 2020 in which India lost its soldiers due to aggressive acts by Chinese forces, ties between the two countries have been badly impacted. Tensions have further escalated as China continues to assert territorial claims over the Indian state of Arunachal Pradesh.

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

India and Taiwan are expected to sign a migration and mobility pact in October strengthening ties between the two sides. The landmark agreement is expected to foster greater people-to-people engagement and facilitate smoother migration between the two nations.

India and Taiwan are expected to sign a migration and mobility pact in October strengthening ties between the two sides. The landmark agreement is expected to foster greater people-to-people engagement and facilitate smoother migration between the two nations. The semiconductor industry has emerged as a pivotal area of cooperation, with India seeking to establish a chip manufacturing industry and Taiwan possessing the requisite expertise. The forthcoming mobility pact holds the potential to significantly increase the influx of Indians into Taiwan. India has previously entered into Migration and Mobility pacts with countries such as France, the UK and Germany, and plans are underway for a similar pact with Italy. The pact, intended to promote the mobility of students, professionals, skilled workers, researchers, and academics, has also been designed to harness India's demographic dividend. While the talks on signing the pact are underway, the development comes at a time when Taiwan plans to bolster its diplomatic presence in India. The Taipei Economic and Cultural Center (TECC) is set to be inaugurated in Mumbai during the fourth quarter of this year. The TECC will serve as a focal point for enhancing exchanges and collaboration between the two countries. It will offer visa services, document authentication, and emergency assistance, catering to businesspeople, tourists, and Taiwanese nationals across multiple Indian states, especially western states. Taiwan's investment and business presence in India has been steadily growing. Notably, about 60 per cent of Taiwanese companies that have invested in India and established factories in the country have chosen locations in southern India. The economic collaboration between India and Taiwan has flourished in sectors such as trade, investment, and industry. Bilateral trade has experienced a remarkable surge, increasing from USD 1.19 billion in 2001 to nearly USD 7.7 billion in 2021. With 106 Taiwanese companies currently operating in India, investments amounting to USD 1.5 billion have been made across various sectors, including information technology, medical devices, and automobile components. This development is occurring against the backdrop of strained India-China relations due to Beijing's aggrieve actions in Ladakh and Arunachal Pradesh. Since the Galwan incident of 2020 in which India lost its soldiers due to aggressive acts by Chinese forces, ties between the two countries have been badly impacted. Tensions have further escalated as China continues to assert territorial claims over the Indian state of Arunachal Pradesh. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India and Taiwan set to sign mobility pact in October, enhancing people-to-people engagement

In the latest, Chandrayaan-3's Lander has detached from the Propulsion module. The Lander's next task is to make a safe landing on the moon. What are the payloads on the Lander? Molly Gambhir brings you a report.

Gravitas: Chandrayaan-3's Lander detaches from the propulsion module

India is advancing its drone technologies, the government is focusing on innovative technologies from the private sphere as well to assist the Defence Forces of India and soon first common testing centre for drones will prove that centre would be set up in the South Indian state of Tamil Nadu.

India first common testing centre for drones, to come up in Sipcot Industrial Park

Scheduled from September 6th to 7th, this visit will be Prime Minister Modi's second trip to Indonesia within a year, his prior presence being in November 2022 at the G20 summit in Bali. Notably, the visit will happen just a day before New Delhi hosts the annual G20 summit from September 9th-10th.

Indian PM Modi to travel to Indonesia in the first week of September

The supreme court of India has prepared a handbook on combating gender stereotypes. It contains a glossary of gender unjust terms and suggests alternative words and phrases. As soon as a 5-judge bench assembled to hear the pleas challenging the abrogation of article 370 of the constitution, the chief justice of India announced unveiling of the handbook. Words like eve-teasing, prostitute, and housewife may soon be out of the legal lexicon; and will be replaced by terms like street sexual harassment, sex worker and homemaker.

Sex worker in place of prostitute; Words like housewife may soon be out of Indian legal lexicon

Norway's envoy to India Hans Jacob Frydenlund discusses India-Norway ties and also talks about plans to boost marine cooperation. Watch the video to know more.

Norway's envoy to India Hans Jacob Frydenlund applauds India's rising global influence | WION

Is it time to rethink and recalibrate India's inflation and monetary policy trajectory? Are the markets and the central bank underestimating inflation risks again, as they did in 2021? Inflation has been India's bane for decades. But economists expect the recent surge in price pressures to be transitory.

India's inflation troubles persist

Nearly 10 per cent of women in India own cryptocurrency, which ranks third among all countries, according to a study. Data from the foreign exchange education portal Forex Suggest reveals that there are 63 million female cryptocurrency owners in India, accounting for 9.2 per cent of the female population of around 685 million.

Nearly 10 per cent of Indian women own crypto currency

ISRO announced the successful separation of the Vikram lander module carrying the Pragyan rover from the propulsion module on Thursday. This kicks off the last phase of the India moon mission. To know more watch this interview with a former scientist of ISRO, Manish Purohit.

Chandrayaan-3: India's lunar mission captures global interest

ISRO announced the successful separation of the Vikram lander module carrying the Pragyan rover from the propulsion module on Thursday. This kicks off the last phase of the India moon mission.

Chandrayaan-3: India set to become fourth country to land on the moon

India's Supreme Court has released a new handbook for all judges. This is meant for the judges the list contains 40 words that have been red-flagged. The Chief Justice of India DY Chandrachud said that these words actually further gender biases and stereotypes so let's take you through some of these words and expressions.

Supreme Court of India issues handbook to remove gender stereotypes from law

India's Supreme Court has released a new handbook for all judges. This is meant for the judges the list contains 40 words that have been red-flagged. The Chief Justice of India DY Chandrachud said that these words actually further gender biases and stereotypes so let's take you through some of these words and expressions. To know more watch this interview with an advocate from the Mumbai High Court, Mrunalini Deshmukh.

Supreme Court Handbook: Women have historically faced prejudices & stereotypes

Here, we bring you the news that is trending across WION's social media platforms- The Vikram lander successfully separated from the rest of the Chandrayaan-3 spacecraft and its propulsion module, kicking off the last phase of India’s Moon mission.

Chandrayaan-3: Lander module successfully separates from the propulsion module

India is being lauded. Along with other Global South countries. Russian FM Sergey Lavrov acknowledged India & other global south countries.

Russia commends India, Global South for pursuing realistic solutions in the Ukraine war

ISRO announced the successful separation of the Vikram lander module carrying Pragyan rover from the propulsion module on Thursday.

Chandrayaan-3 lander successfully separated from propulsion module

Parts of India are witnessing polar opposite weather conditions. At least 60 people have been killed in Himachal Pradesh due to heavy rainfall. On the other hand, Bihar and Kerala are the worst hit by rainfall deficit. Why is India going through such extremes? Molly Gambhir brings you a report.

Gravitas:  India faces surplus and deficit in rainfall

In the face of a humanitarian crisis and urgent appeals from UN agencies, India has reaffirmed its commitment to providing essential assistance to the Afghan people with practical support on the ground. The Indian government sent the country 47,500 metric tonnes of wheat and 200 tonnes of medical aid along with assistance for drug addicts in the country.&nbsp;

Recognising the gravity of the situation, India's collaboration with the United Nations World Food Programme (UNWFP) has facilitated the internal distribution of wheat throughout Afghanistan. This partnership has ensured the successful delivery of wheat in the form of aid to UNWFP centres within Afghanistan, with shipments making their way through the Chabahar Port in Iran and reaching their destination at Herat.&nbsp;

UNWFP expressed its profound gratitude to India and other donors for their invaluable support. A recent tweet by UNWFP highlighted that "for the first half of this year, 16 million people in Afghanistan received life-saving food from WFP. We are grateful for generous donors like India who make that happen."&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
For the first half of this year, 16 million people in <a href="https://twitter.com/hashtag/Afghanistan?src=hash&amp;ref_src=twsrc%5Etfw">#Afghanistan</a> received life-saving food from WFP. 
 
We are grateful for generous donors like <a href="https://twitter.com/hashtag/India?src=hash&amp;ref_src=twsrc%5Etfw">#India</a> who make that happen. 🙏<a href="https://twitter.com/MEAIndia?ref_src=twsrc%5Etfw">@MEAIndia</a><a href="https://twitter.com/dpa_mea?ref_src=twsrc%5Etfw">@Dpa_mea</a> <a href="https://t.co/zwsdiaY8UL">pic.twitter.com/zwsdiaY8UL</a>
— WFP Afghanistan (@WFP_Afghanistan) <a href="https://twitter.com/WFP_Afghanistan/status/1691389670788059136?ref_src=twsrc%5Etfw">August 15, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

In the past, India has sent assistance overland Pakistan, but that has been marked by delays due to Islamabad's reluctance to give early passage. Medical assistance is also a cornerstone of India's aid efforts. Approximately 200 tonnes of medical supplies, including essential medicines, COVID-19 vaccines, anti-TB medicines, and various medical and surgical items, were dispatched to the Indira Gandhi Children's Hospital in Kabul.&nbsp;

Furthermore, India's partnership with the United Nations Office on Drugs and Crimes (UNODC) underscores its focus on addressing the challenges faced by the Afghan population when it comes to the impact of drugs. This partnership aims to provide much-needed humanitarian assistance to female drug users in Afghanistan. The contribution includes 1,100 units of female hygiene kits, blankets, and medical supplies. These items are destined for UNODC's female drug rehabilitation camps across the nation, contributing to the comprehensive rehabilitation of those in need.&nbsp;

India's assistance extends beyond immediate relief efforts. Winter clothing and stationery items have been provided to the primary students of the Habibia School in Kabul, reflecting India's commitment to the long-term welfare and education of Afghan children. While India doesn't recognise the Taliban regime in the country, it has a "technical team" in Kabul that was sent in 2022 to oversee the delivery of humanitarian assistance. Taliban came back to power in Afghanistan in 2021 after hiatus of two decades.&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

In the face of a humanitarian crisis and urgent appeals from UN agencies, India has reaffirmed its commitment to providing essential assistance to the Afghan people with practical support on the ground.

In the face of a humanitarian crisis and urgent appeals from UN agencies, India has reaffirmed its commitment to providing essential assistance to the Afghan people with practical support on the ground. The Indian government sent the country 47,500 metric tonnes of wheat and 200 tonnes of medical aid along with assistance for drug addicts in the country. Recognising the gravity of the situation, India's collaboration with the United Nations World Food Programme (UNWFP) has facilitated the internal distribution of wheat throughout Afghanistan. This partnership has ensured the successful delivery of wheat in the form of aid to UNWFP centres within Afghanistan, with shipments making their way through the Chabahar Port in Iran and reaching their destination at Herat. UNWFP expressed its profound gratitude to India and other donors for their invaluable support. A recent tweet by UNWFP highlighted that "for the first half of this year, 16 million people in Afghanistan received life-saving food from WFP. We are grateful for generous donors like India who make that happen." For the first half of this year, 16 million people in #Afghanistan received life-saving food from WFP. We are grateful for generous donors like #India who make that happen. 🙏@MEAIndia@Dpa_mea pic.twitter.com/zwsdiaY8UL — WFP Afghanistan (@WFP_Afghanistan) August 15, 2023 × In the past, India has sent assistance overland Pakistan, but that has been marked by delays due to Islamabad's reluctance to give early passage. Medical assistance is also a cornerstone of India's aid efforts. Approximately 200 tonnes of medical supplies, including essential medicines, COVID-19 vaccines, anti-TB medicines, and various medical and surgical items, were dispatched to the Indira Gandhi Children's Hospital in Kabul. Furthermore, India's partnership with the United Nations Office on Drugs and Crimes (UNODC) underscores its focus on addressing the challenges faced by the Afghan population when it comes to the impact of drugs. This partnership aims to provide much-needed humanitarian assistance to female drug users in Afghanistan. The contribution includes 1,100 units of female hygiene kits, blankets, and medical supplies. These items are destined for UNODC's female drug rehabilitation camps across the nation, contributing to the comprehensive rehabilitation of those in need. India's assistance extends beyond immediate relief efforts. Winter clothing and stationery items have been provided to the primary students of the Habibia School in Kabul, reflecting India's commitment to the long-term welfare and education of Afghan children. While India doesn't recognise the Taliban regime in the country, it has a "technical team" in Kabul that was sent in 2022 to oversee the delivery of humanitarian assistance. Taliban came back to power in Afghanistan in 2021 after hiatus of two decades. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India sends 47,500 MT of wheat and 200 tonnes of medical aid to Afghanistan

In a groundbreaking move towards a cleaner and more sustainable future, India has just given the green light to an ambitious plan the Indian government approved a plan to introduce a fleet of 10,000 electric buses in 169 cities over the next decade. This initiative comes with a substantial investment of around 7 billion US dollars.

India approves $7 billion plan for 10,000 electric buses

india

India, News on India, stories on India, articles on India, India stories at Wion, India news, India latest news