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RBI to banks on unique ID codes


Banks must assign unique customer identification codes to their new as well as existing clients by May 31, 2013, the Reserve Bank of India said in a notification on Friday. The unique identification code will help in stronger enforcement of know-your-customer norms, and aid banks in identifying customers, tracking the facilities availed, etc.

First Published: Sat, June 09 2012. 00:22 IST