An RBI-appointed panel has recommended a range of customer-centric initiatives to be adopted by banks, reports suggest. The initiatives include online settlement of claims by heirs of deceased account holders, flexibility for submission of life certificates by pensioners and centralised KYC databases. The panel also recommended operations of accounts should not be stopped pending periodic Know Your Customer updates, as well as a time limit for the return of property documents to borrowers after the closure of a loan account. In May last year, the Reserve Bank set up the committee under former RBI Deputy Governor BP Kanungo.from Banking/Finance-Industry-Economic Times https://ift.tt/yAoN6HL
via IFTTT
No comments:
Post a Comment