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Picture Courtesy: Business Today
Context: The UDGAM (Unclaimed Deposits – Gateway to Access inforMation) portal launched by the Reserve Bank of India (RBI) aims to provide the public with a centralized platform to search for their unclaimed deposits across multiple banks.
Details
Key features of the UDGAM portal
Significance
Centralized Database
User-Friendly Interface
Notification
Easy Claims Process
Key challenges associated with the UDGAM portal
Data Accuracy
Privacy Concerns
Awareness
Digital Literacy
Verification and Authentication
Integration with Financial Institutions
Way Forward to ensure the long-term success and effectiveness of the UDGAM portal
Promote Awareness
Enhance User Experience
Strengthen Data Security
Regular Updates
Collaboration
Conclusion
Must-Read Articles:
RBI: https://www.iasgyan.in/daily-current-affairs/rbi
PRACTICE QUESTION Q. Which of the following has launched the ”UDGAM portal”? A.Securities and Exchange Board of India B.Ministry of Micro, Small and Medium Enterprises C.NITI Aayog D.Reserve Bank of India Answer: D |
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