Doorstep banking facilities for senior citizens, disabled from December 31
What's the story
To make banking easier for senior citizens and the differently-abled, the RBI has asked banks to provide them doorstep facilities. Those above 70 and the disabled should be offered basic banking services at home like pick-up and delivery of cash, demand drafts, chequebooks and more. RBI's notification came after it observed banks "discouraging or turning (such people) away from availing banking facilities in branches".
Services
What facilities will be offered to senior citizens and differently-abled?
Banks are to offer doorstep facilities to senior citizens and the differently-abled for pick-up of cash for deposit, delivery of cash withdrawn, submission of KYC documents and delivery of chequebooks/demand drafts, among others. Such customers should be provided Form 15G/H once annually, preferably in April. Based on customers date of birth, KYC-compliant accounts should automatically be converted into senior citizen accounts.
Others
RBI notification not just for senior citizens
Pensioners should be allowed to submit physical Life Certificate at any branch under the 'Jeevan Praman' Scheme, and they should be uploaded immediately in the bank's Core Banking Solution system. Banks should provide everyone with a savings account a 25-leaf chequebook every year for free, and they shouldn't insist on any customer's physical presence. These measures should be implemented by December 31, RBI said.