Direct Answer
Core Banking Solution (CBS)
The Unclaimed Deposit Reference Number (UDRN) is an encrypted, system-generated identifier attached to abandoned funds being routed to the central bank, designed to mask the original owner’s identity from external observers.
Statutory Conditions & Critical Facts:
Exam tip: RTGS and SFMS are payment transmission networks. CBS is the centralized ledger software used by the bank branch to manage accounts, which is why it is responsible for generating the internal UDRN tracker. The strict privacy constraint of the UDRN exists to prevent data leaks. If central databases display public lists of unclaimed funds, bad actors could exploit identifiable account numbers to attempt fraudulent claims.
Statutory Conditions & Critical Facts:
- Generation Source: The unique number must be generated directly through the bank’s internal Core Banking Solution (CBS).
- Fund Destination: The UDRN is assigned to each unclaimed account or deposit being transferred to the Depositor Education and Awareness (DEA) Fund of the RBI.
- Privacy Protocol: The UDRN must be structurally formatted so that any third party looking at the number cannot reverse-engineer or identify the account holder or the specific bank branch.
Exam tip: RTGS and SFMS are payment transmission networks. CBS is the centralized ledger software used by the bank branch to manage accounts, which is why it is responsible for generating the internal UDRN tracker. The strict privacy constraint of the UDRN exists to prevent data leaks. If central databases display public lists of unclaimed funds, bad actors could exploit identifiable account numbers to attempt fraudulent claims.