Money & Banking

No move to seek details on 'religion' in Bank KYC forms: IBA, DFS

Our Bureau Mumbai | Updated on December 21, 2019 Published on December 21, 2019

Clarification came in the backdrop of rumours doing rounds on social media

 

The Indian Banks’ Association (IBA) on Saturday said there is no move by banks to introduce a new column in their ‘know-your-customer’ (KYC) forms asking depositors and clients to mention their religion.

This clarification by the banking industry body comes in backdrop of messages doing the social media rounds that “Bank KYC forms may, for the first time, seek details of clients’ religion.”

VG Kannan, Chief Executive, IBA, in a statement, said: “There is a newspaper item stating that ‘banks may introduce a new column in KYC forms for their depositors and clients to mention their religion. In this regard, it is to state that there is no such move in this direction.

Meanwhile, Department of Financial Services Secretary Rajeev Kumar tweeted that "there is no requirement for Indian citizens to declare their religion for opening/ existing bank account for KYC. Do not fall for baseless rumours about any such move by banks."

Published on December 21, 2019
This article is closed for comments.
Please Email the Editor