though late,it is very demanding step forward by RBI.
even not these 2 banks,almost all banks not following it stricktly.if serious investigation performed, almost all banks would be in default catagory in this regards.
They are driving hard to support this campaign I belive. But to have relationship with so many banks credit cardSavings bankloaninvestment , As a customer It is difficult to submit KYC tracking to all banks. There should be something common where customer can submit the records.
all the banks are more commercial and less professional these days,they dont bother as the people working are not the same as they used to be.if ur a HNI then u get all otherwise a shabby treatment by all banks to its customers.
what a tricky way to ask question. Had this happened with Union bank or with UCO bank, the question would have been, "Is violation of kyc norms a common practice among PSU banks ?" M3 will not change.. Remember, Indian public is smarter then you think off..
Here problem is RBI itself, they are fining banks to show that they are doing a great job to protect people`s interest. however, many bank`s in past gone bankrupt and lacs of crores of common people duped at that time what RBI was doing?. Still in majority of Banks, loans are given against the common sense and with faulty policies, what RBI is doing in these cases.
KYC norms of the Bank`s are tighter and RBI itself has drawn the policy then how laculae is there?