Prelims Focus – 20th March 2024

1.UDGAM portal

Recent News:

The Reserve Bank of India has introduced the UDGAM Portal to address the issue of unclaimed deposits in the country.

Details:

• RBI has launched a portal called UDGAM to help registered users search for unclaimed deposits across multiple banks in a centralised manner. 
• The portal provides information on the claim/settlement process for each bank involved. 
• Currently, 30 banks are part of UDGAM, representing 90% of unclaimed deposits in India. 
• Each unclaimed account is assigned a unique Unclaimed Deposit reference number to protect privacy. 
• The portal allows bank branches to easily settle claims from customers who have successfully searched on UDGAM. 
• Users must register with their name and mobile number to search for unclaimed deposits. 
• The portal covers both individual and non-individual categories of unclaimed deposits.

2.Nowruz

Recent News:

Nowruz, a spring festival, signifies the start of the Iranian or Persian New Year.

Details:

• Google celebrated International Nowruz Day 2024 on March 19th with a specially designed Google Doodle by Iranian artist Pendar Yousefi. 
• Nowruz, meaning “new day” in Farsi, is the Iranian New Year festival named after King Jamshed. It has ancient roots in Zoroastrianism and is celebrated on the vernal equinox, symbolising the renewal of nature and the arrival of spring. 
• The United Nations also recognizes March 21st as the International Day of Nowruz. 
• The festival includes various customs such as fire and water rituals, dancing, and gift exchanges. 
• Nowruz was added to the UNESCO Intangible Cultural Heritage list in 2016. In India, the Parsi community observes Nauroz around August 16-17, introduced by a merchant from Surat in the 18th century who had connections with Iran.

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