On Tuesday, the Supreme Court of India directed the Union government and the Securities Exchange Board of India (SEBI) to provide information on how legal heirs of deceased individuals can be informed about unclaimed deposits in banks, mutual funds, and securities depositories. This directive came during a hearing of a public interest litigation filed by journalist Sucheta Dalal, who advocated for a centralized website to list unused or dormant accounts for easier access by heirs. The Reserve Bank of India (RBI) informed the court that the UDGAM (Unclaimed Deposits - Gateway to Access Information) portal has been operational since 2023, with 2 million registrations and 30 banks onboarded. The court inquired whether all government banks are integrated with this portal and emphasized the importance of timely data migration from banks. While the portal provides information on bank accounts, it does not facilitate the settlement of claims, requiring heirs to contact the respective banks directly.