Saturday, April 20, 2024
HomePersonal FinanceBig relief to Pensioners! Pensioners can submit Life Certificate to any branch!...

Big relief to Pensioners! Pensioners can submit Life Certificate to any branch! RBI committee recommendation

RBI New Update: Every year in the month of October-November, pensioners have to submit life certificate in the banks to get pension.

Pensioners Life Certificate: Senior citizens getting pension can get a big relief in the coming days. Pensioners can submit Life Certificate to any branch of the bank maintaining their Life Certificate Pension Account. The compulsion for them to submit their life certificate only in that branch where they have their pension account will end.

Life certificate can be deposited in any branch

In order to improve the customer service standard, the RBI committee headed by former Deputy Governor BP Kangu has submitted its recommendations to the Reserve Bank, taking care of the facilities of senior citizens, many important recommendations have been made. The committee has said in its recommendation that there should be such a facility for pensioners that they can deposit their life certificate in any branch of the bank in which they have pension account. Also, to avoid crowding in a particular month, they should be allowed to submit life certificate in any month as per their wish. And every year in the same month they should be allowed to submit life certificate.

Door-step services by paying upfront

The committee has recommended that RBI regulated financial institutions should give such an option to relatives of senior citizens to avail facilities like door-step services by making upfront payment for their elders.

KYC process will be simple

In order to simplify the KYC (Know Your Customer) process, the committee recommended that RBI regulated financial institutions take steps to update KYC at regular intervals but ensure that operations in the account are not blocked. The Committee recommended that banks and financial institutions should create a centralized database of KYC of all customers linked with a unique customer identifier similar to the customer information file. So that the customer does not have to do KYC again and again. And whenever the customer updates the KYC, the services that the customer has availed start appearing at all these places.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments