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No more ATM queues for people above 70: Banks will bring cash to their door

This initiative should be implemented by December 31, 2017, as per the RBI order

BS Web Team  |  New Delhi 

Demonetisation, Note ban

The Reserve Bank of India (RBI) has asked banks to provide customised basic services to of more than 70 years of age and differently-abled persons at their doorstep. This initiative should be implemented by December 31, 2017, as per the order. 

Senior citizens, along with the visually-impaired, would get basic services like pick-up and delivery of cash, chequebooks and demand drafts, submission of (KYC) documents and life certificates at their homes. 

In a circular to banks, said that "it has been observed that there are occasions when banks discourage from availing banking facilities in branches".

"Notwithstanding the need to push digital transactions and use of ATMs, it is imperative to be sensitive to the requirements of and differently-abled persons," the circular said.

With an initiative to address the issue, has directed banks to set up dedicated counters for the implementation of this programme. 

However, the charges are not being mentioned yet. 

The also issued directions on other problems usually faced by  

From now on, pensioners can submit physical form at any branch of the pension-paying bank. 

Banks must ensure that all the certificates submitted by pensioners at any branch and not just the pension-paying branch should be uploaded to their core banking systems (CBS). 

Further, a minimum of 25 cheque leaves every year for a savings bank account should be provided free of charge, the directed. 

No bank should insist on the physical presence of any customer, including and differently-abled persons, for availing of chequebooks.

According to the circular issued by the RBI, a fully KYC-compliant account should automatically be converted into a 'senior citizen account' based on the date of birth available in the bank's records.


First Published: Fri, November 10 2017. 15:40 IST
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