RBI Introduces Doorstep Banking Facility for Both Senior Citizens and Differently-abled…a

RBI Introduces Doorstep Banking Facility for Senior Citizens
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RBI Introduces Doorstep Banking Facility for Both Senior Citizens and Differently-abled…

The apex bank has ensured to make all banking services and features endlessly available to all senior citizens and differently-abled persons at their doorstep. Senior citizens above 70 will definitely appreciate the new facility.

The RBI plans to implement this provision as soon as possible, mostly by December this year. It has already sent out message to all banks, and has cited section 23 of the Banking Regulation Act, 1949, saying that, keeping in view of the difficulties faced by senior citizens of more than 70 years and differently abled or infirm persons (those who are medically certified with chronic illness or disability) which also includes visually impaired. Banks are also advised to make determined effort to provide basic banking facilities, such as pick up cash and instruments against receipt, delivery of cash against withdrawal from account, delivery of DD (demand draft),submission of Know Your Customer (KYC) documents and Life certificate at the premises or residences of such customers.

RBI also advised banks to provide senior citizens and differently-abled persons Form 15/G/H relating to tax deduction at source, once in a year, most preferably in April.

According to reports today, the Apex bank has also asked all the banks in the country to provide a counter, this is to offer priority to senior citizens and differently-abled citizens to make banking services stress free for them. Surely a sweet news post-Deepavali to all seniors and differently –abled persons.

 

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