Monday, June 11, 2012

‘Banks not proactive in tracing customers of unclaimed accounts’

 In a scathing criticism to the banks, the Reserve Bank of India has said that despite its instructions, banks have not been pro-active in tracing customers linked with unclaimed deposits/inoperative accounts.  The central bank said the need to identify the owners of these unclaimed deposits/inoperative accounts is closely linked to KYC due diligence.............

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