Reserve Bank of India (RBI). File
| Photo Credit: Reuters
The Reserve Bank of India (RBI) told the Supreme Court on Tuesday (May 5, 2026) that 30 banks have been integrated into its centralised web portal, UDGAM (Unclaimed Deposits – Gateway to Access InforMation), to enable legal heirs to trace funds belonging to deceased account holders.
A three-judge Bench headed by Justice Vikram Nath was hearing a Public Interest Litigation (PIL) filed by journalist Sucheta Dalal, contending that funds lying in dormant or inoperative accounts were increasingly being transferred to government-managed pools, which have seen a sharp rise over the past decade. The petitioner sought directions for the creation of a centralised platform to provide information on financial assets — including bank accounts, insurance policies, and post office deposits — held by deceased persons.
Published – May 05, 2026 07:39 pm IST
