Business Daily from THE HINDU group of publications
Tuesday, Nov 20, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Nov 20, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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RBI & Other Central Banks Banks told to rely upon guardianship certificate Our Bureau Mumbai, Nov. 19 Banks and banking sector have been asked to accept the Guardianship Certificate issued either by the District Court under Mental Health Act or by the Local Committees under the above Act for the purpose of opening and operating accounts for people with disabilities such as autism, cerebral palsy, mental retardation and multiple disabilities, among others, said a notification from the Reserve Bank of India. The National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 was passed by Parliament to provide for appointment of legal guardians for persons with disability that is covered under the said Act. The Trust also suggested that the legal guardian could open and operate the bank account as long as he remains the legal guardian. “Banks are therefore advised to rely upon the Guardianship Certificate issued either by the District Court under Mental Health Act or by the Local Level Committees under the Act for opening and operating bank accounts,” said the notification. More Stories on : RBI & Other Central Banks | Health
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