Allow customers to transfer accounts within bank: RBI to banks

April 28, 2012

RBI

Mumbai, April 28: Bank customers who change jobs or locations will find it easier to shift their bank account to the new location now. The Reserve Bank of India (RBI) has made it mandatory for banks to allow transfer of accounts from one branch to another without insisting on opening a fresh account or making the customer undergo the full know your customer process again.

Earlier, since the account holder's information was maintained with local branches, banks used to insist that customers go through the account opening procedure all over again when they shifted to a different location.

"It has been brought to our notice that some banks are insisting on opening of fresh accounts by customers when customers approach them for transferring their accounts from one branch of the bank to another branch of the same bank. Such insistence on opening of fresh account or making the customer undergo full KYC process again causes inconvenience to them resulting in poor customer service," RBI said in a circular to all banks. The circular added that given that most bank branches are now on core banking solution, records of a particular customer can be accessed by any branch of the bank.

An official with a new generation private bank, however, said, "We provide 'at par' cheque books to our account holders, which means that the cheques will be treated as local cheques no matter which part of the country they are deposited in. So, it really does not matter if the home branch is in a different city."

With all banks having put in place a core banking solution ( CBS) through which all account holder information is maintained in a centralized database accessible across branches, ATMs and internet, the home branch concept has lost relevance. But some private banks charge high fees for services accessed outside the home branch. For instance, most new generation private banks charge a fee for cash withdrawal at branches other than the home branch. Also, some lenders insist that changes in account services or document submission has to be done at the home branch.

In its monetary policy on April 17, RBI had asked banks to have a central customer ID to facilitate portability of accounts and ensure that all customer information is centralized. Some banks are seeing this as a precursor to having a central identity which will help customers transfer accounts across banks without having to repeat the KYC procedure.

"Banks are advised that KYC once done by one branch of the bank should be valid for transfer of the account within the bank as long as full KYC has been done for the concerned account. In order to comply with KYC requirements of correct address of the person, fresh address proof may be obtained from him/her upon such transfer by the transferee branch," RBI said.

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Agencies
January 12,2020

New Delhi, Jan 12: A fact-finding committee of the Congress on the JNU violence on Sunday said the January 5 attack inside the university campus was "state-sponsored" and recommended Vice Chancellor M Jagadesh Kumar be dismissed and criminal investigation initiated against him.

The Congress had appointed a four-member fact-finding committee to carry out a detailed inquiry into the violence at the Jawaharlal Nehru University (JNU).

Sushmita Dev, member of the committee, said the committee recommended that Kumar should be dismissed immediately and all the appointments in faculty should be probed and independent inquiry should take place.

"Criminal investigation must take place against the VC and faculty members and the security company," the Mahila Congress chief said.

"It is clear that the attack on JNU campus was state-sponsored," Dev said.

She also demanded a complete rollback of the JNU fee hike.

The other members of the fact-finding committee are Hibi Eden, MP and former NSUI president, Syed Naseer Hussain, MP and former president of JNU NSUI and Amrita Dhawan, a former NSUI president and ex-DUSU president.

On January 5 night, masked people armed with rods and sticks stormed the JNU campus and assaulted students and faculty members, and vandalised property, leaving several people injured.

Leftist outfits and the RSS-affiliated Akhil Bharatiya Vidyarthi Parishad (ABVP) blamed each other for the violence.

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Agencies
February 20,2020

New Delhi, Feb 20: Hitting out at the Bharatiya Janata Party (BJP), Congress leader Sachin Sawant on Thursday said that the same BJP who tried to pressurise government lawyers so that the accused in the Malegaon bomb blast case, Samjhauta express case can be let off are now demanding that there should be a re-investigation in the 26/11 terror attacks, this is the biggest irony.

"By demanding that the case be re-investigated the BJP which gave a ticket to Pragya Thakur who was accused in the Malegaon blast case, has insulted all those brave police, the army who fought bravely. BJP should apologise to all those people," he said.

"If the BJP were serious about re-investigating the case why didn't they do it when they were in power in the state and the Centre? Was the government sleeping for the last five years? asked Maharashtra Congress committee's general secretary, Sachin Sawant.

"Rather than this, the BJP should ask for a fair inquiry in the incident where a Kashmir police officer Davindar Singh was caught in the company of terrorists and also, the role of the Sangh Parivar in the Malegaon Blasts," said Sawant.

Sawant said that BJP has crossed all limits while lying and it has stooped to the lowest levels of political discourse and is not thinking twice before defaming the Opposition.

In the book written by the retired police officer Rakesh Maria doesn't have anything other than what was there in the charge sheet on Ajmal Kasab. In his confession, Kasab has said that he was given an ID card with a Hindu name and also a red coloured thread by the Lashkar-e-taiba.

Because of this forged identity, they would be able to dodge the police. All these details have been clearly mentioned in the Kasab's confession.

Maria has mentioned in his book that if Kasab was not caught alive, the media would have declared him as a Hindu. Maria hasn't said that there was any kind of government pressure or any other conspiracy behind it. He was only talking about the media and also given all the details in the charge sheet. The BJP is only using this as a political tool in their low-class politics.

The leader added that, "The letter written by BJP MLA Atul Bhatkhalkar to CM Uddhav Thackeray has crossed all limits of lying. The Congress government in Maharashtra had formed a committee under retired home secretary Ram Pradhan to probe the 26/11 attack."

On the basis of an interview given by Ram Pradhan to a national daily on the 10th anniversary of the 26/11, he has levelled baseless allegations on former Central Home minister P Chidambaram, he added.

Bhatkhalkar in his letter has said that Chidambaram had asked Ram Pradhan to not to disclose the local connection that was found in the conspiracy. In fact, there is no such mention in the interview given by Ram Pradhan. Pradhan has said in the interview that Chidambaram wanted to see the report. Hence along with the report, some sensitive information was sent to the department separately and those were overlooked. After some time news related to David Headley had surfaced.

Ram Pradhan committee was not set up by the Centre but was set up by the state government and so it was not mandatory for the Centre to inform Ram Pradhan whether cognisance was taken regarding the sensitive information.

"In was during the Congress government that the first terrorist was caught alive due to the bravery of the police force and after following all the due procedures a verdict to hang him was given," said Sawant..

"Everyone has appreciated India's legal system in which even a terrorist was allowed to give his side," he added.

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News Network
June 19,2020

New Delhi, Jun 19: RJD and AAP were not invited to the all-party meeting called by Prime Minister Narendra Modi on Friday to discuss the situation at the India-China border after 20 Indian soldiers were killed in a "violent face-off," leaving the parties fuming.

Top RJD leader Tejashwi Yadav criticised the government for not inviting the party to the meeting, asking on Twitter late Thursday night, "Just wish to know the criteria for inviting political parties for tomorrow's (Friday's) all-party meet on Galwan Valley. I mean the grounds of inclusion/exclusion. Because our party hasn't received any message so far."

AAP's Rajya Sabha leader Sanjay Singh joined the chorus, "there is a strange ego-driven government at the centre. AAP has a government in Delhi and is the main opposition in Punjab. We have four MPs. But on a vital subject, AAP's views are not needed? The country is waiting for what the Prime Minister will say at the meeting."

Sources said the government has set a criteria to invite only parties with five or more MPs in Parliament for the digital meet, where the Prime Minister will brief the top leaders of parties and hear their views on the way ahead. There are at least 27 parties in the Parliament, which have less than five members, while 17 have more than five members or more than five MPs.

Interestingly, RJD has five MPs in Rajya Sabha and its senior MP Manoj K Jha shared the Rajya Sabha website link on Twitter, which showed the party has five MPs. "We have not been invited and the government's bogus argument has been exposed," Jha said.

CPI leaders said General Secretary D Raja received a call from Defence Minister Rajnath Singh inviting him to the meeting and with a message that the Prime Minister's Office would coordinate but there was no follow-up after that.

"Exclusion of AAP and RJD in the all-party meet on a National debate does not augment well. AAP is ruling Delhi and has its CM. Why should people of Delhi be kept out in such an important debate on National integrity and Sovereignty?" former NCP MP Majeed Memon tweeted.

During the all-party meeting on COVID-19 too, the government had not called all parties with representation in Parliament to the all-party meeting in April and had set five MPs as a benchmark to be invited.

Raja had then written a letter to Modi demanding that the government should not get into "technicalities" and discuss the issue with all parties in Parliament.

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