Nation Current Affairs 28 Jan 2020 SBI too will accept ...

SBI too will accept NPR form for KYC

DECCAN CHRONICLE.
Published Jan 28, 2020, 2:02 am IST
Updated Jan 28, 2020, 2:02 am IST
The notice was published in an English daily in Secunderabad on Sunday, amid the raging nationwide protests against the NPR.
State Bank of India
 State Bank of India

Hyderabad: The State Bank of India (SBI) has some eyebrows by issuing a public notice stating that letters issued by the National Population Register (NPR) would be valid documents for the KYC (Know You Customer) requirements.

The notice was published in an English daily in Secunderabad on Sunday, amid the raging nationwide protests against the NPR.

 

Twitter users reacted immediately, condemning the bank for trying to legitimise a controversial move by the Central government. Many called for withdrawing their deposits from SBI to “secure” their savings. One user wrote: “Take out your hard-earned money from all government banks. They may freeze your accounts in the name of KYC. We need to reject NRC, CAA and NPR.”

It may be noted that a few weeks ago, the RBI had revised its KYC guidelines and made the NPR letters a valid document. Before SBI, the Central Bank of India had issued a similar notice.

 

Notwithstanding the guidelines, there is very little clarity about where these NPR letters will come from. Even SBI officials didn’t seem to know about them.

A senior official told Deccan Chronicle, “The NPR is not a new concept. We have had NPR updation exercises in the past as well. Even then, through my decades-long service, I never saw a letter issued by the NPR. No one has ever tried to submit it. I doubt many would do that now either.”

The official emphasised that NPR letters were only one of the documents that could be used for KYC. “Customers can continue to submit their Aadhaar, Voter ID, driving license, passport or MNREGA job cards,” he said.

 

...
Location: India, Telangana, Hyderabad




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT