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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 15,2020

Lucknow, Jul 15: As many as 122 alleged criminals were killed in over 6,000 encounters in Uttar Pradesh in the past three years, while 13 policemen also lost their lives during this period, a senior police official said.

He also said over 2,000 criminals were injured in police action, while over 13,000 of them have been arrested.

"Thirteen policemen have been killed in action in as many as 6,126 encounters (in UP), while as many as 122 criminals have been gunned down," Additional Director General of Police (Law and Order) Prashant Kumar said while sharing details of police encounters from March 20, 2017, to July 10, 2020.

As many as 13,361 criminals have been arrested, while 2,296 criminals were injured in police encounters, he said, adding 909 policemen were also injured in these incidents.

Referring to the Kanpur ambush in which eight policemen were killed, Kumar said, "Of the 21 named accused in the incident, six have been killed and four arrested so far. A hunt is on to nab the 11 other accused."

Eight police personnel, including a DSP, were gunned down by the henchmen of gangster Vikas Dubey in Bikru village of Kanpur on July 3.

Seven others, including a civilian, were injured in the attack after the police team entered the village past July 2 midnight to arrest the gangster.

Dubey was later killed in an encounter on July 10 after police claimed that he tried to escape from the spot in the Bhauti area where the vehicle carrying him from Ujjain to Kanpur met with an accident.

Kumar said overall there has been a decline in the crime rate in the state this year compared to the last year.

"A total of 579 instances of loot took place in the state from January 1, 2020, to June 15, 2020. This is 44.17 per cent less compared to the crimes committed in the same period in 2019, the ADG (Law and Order) said.

He said 33 incidents of dacoity have been reported in the state this year so far. It is 37.74 per cent less compared to the crimes committed in the same period in 2019 .

Similarly, 2,604 instances of burglary have taken this year so far and is 30.97 per cent less compared to the crimes committed in the same period last year, Kumar added.

He said 1,019 dowry-related deaths have taken place this year, registering a 6.34 per cent decline compared to the previous year.

As many as 913 incidents of rape have been reported this year so far, a decline of 25.41 per cent compared to the last year, Kumar said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 21,2020

Thiruvananthapuram, Apr 21: Not just in China, but in Kerala also robot is now playing a key role in the health workers' fight against COVID-19, thanks to the innovative spirit of a group of young minds and the support of the state Health Department.

Named "Nightingale-19", the robot is deployed to provide food and medicines among patients at the district coronavirus centre in Ancharakandi in Kannur district where a large number of cases have been reported.

The special display facility, attached to it, also allows patients to communicate with health workers and their relatives if necessary, the health minister's office here said.

Designed by the students of Chemberi Vimal Jyothi Engineering College with the support of the Health Department, the remote control-operated robot can carry food and water for at least six persons at a stretch.

Also Read: Pandemic Podcast: How the lockdown is affecting women

The machine, which can travel up to one kilometre, distributes food, water and medicine in each room, a department statement said.

The robot would be disinfected after each use, it said.

Health Minister K K Shailaja inaugurated the new venture from here recently through the robot's video facility, the statement added.

Robots have been put to use in other parts of the country to help in the health workers' fight against COVID- 19.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 20,2020

Kolkata, May 20: Cyclone 'Amphan' lay centred about 240 km south of Digha in West Bengal on Wednesday morning as an extremely severe cyclonic storm, the Met department said here.

The intensity near the centre of the storm was 170 to 180 kmph gusting to 200 kmph, the Met said.

'Amphan' is very likely to move north-northeastwards and cross West Bengal-Bangladesh coast between Digha and Hatiya, close to the Sunderbans during the afternoon to evening of Wednesday with a wind speed of 155 to 165 kmph gusting to 185 kmph as a 'very severe cyclonic storm', the Met department said.

West Bengal has evacuated more than three lakh people to safer places as the cyclonic storm 'Amphan' roared towards the coastal areas of the state, officials said.

The Met department, which has issued an "orange message" for West Bengal, warned of extensive damage in Kolkata, Hooghly, Howrah, South and North 24 Parganas and East Midnapore districts.

The Met department has advised that all establishments and markets remain closed in Kolkata and adjoining areas and movement of people be restricted on May 20.

There is likely to be disruption of rail and road link at several places, uprooting of communication and power poles, extensive damage to all types of 'kutcha' houses and some damage to "old badly managed pucca" structures and potential threat from flying objects, the weatherman warned.

There is also likelihood of extensive damage to standing crops, plantations and orchards and blowing down of palm and coconut trees, the Met said.

The weatherman has advised diversion or suspension of rail and road traffic in the districts which are likely to be affected.

The Eastern Railway (ER) has cancelled the departure of Howrah-New Delhi AC Special Express for Wednesday.

The departure of 02301 Howrah-New Delhi AC Special Express on Wednesday and 02302 New Delhi-Howrah AC Special Express on May 21 would remain cancelled, the ER said.

Wind speed along and off the coastal areas of West Bengal will reach 75 to 85 kmph with gusts up to 95 kmph from Wednesday morning along and off districts of North and South 24 Parganas, East and West Midnapore, Kolkata, Howrah and Hooghly, Regional Met director G K Das said.

"It will gradually increase thereafter becoming 110 to 120 kmph gusting to 130 kmph over West Midnapore, Howrah, Hooghly, Kolkata and wind speed of 155 to 165 kmph gusting to 185 kmph over the districts of North and South 24 Parganas and East Midnapore of West Bengal from the afternoon to night of May 20," he said.

Under its impact rainfall will occur in most places over the districts of Gangetic West Bengal on Wednesday, with heavy to very heavy downpour with extremely heavy rain at a few places in Kolkata, Howrah, East Midnapore, North and South 24 Parganas and Hooghly districts, he said.

"Storm surge of 4 to 5 metres above astronomical tide is likely to inundate low lying areas of South and North 24 Parganas and about 3 to 4 metres over low lying areas of East Midnapore district of West Bengal during the time of landfall," he said.

The Indian Navy has dispatched a diving team for providing assistance to the West Bengal government in relief operations, a Defence official said.

The diving team from Vishakhapatnam has brought specialised equipment along with them which can be used for rescue in case of flooding and have been positioned at the Naval Service Selection Board at Diamond Harbour in South 24 Parganas district, the official said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.