Bank account rules: The government is going to make the rules for opening a bank account and getting a mobile SIM more strict. By doing this, the government wants to stop the increasing incidents of bank fraud and fraudulently taking SIM on other’s documents. Let’s know the latest updates.
Bank account: The government is soon going to change the rules for opening bank accounts and taking SIM cards in the country. The government is now considering a new rule to check the increasing cases of online fraud in the country. Under this, the government can further tighten the rules for issuing a new SIM card and opening a bank account.
Actually, the government is contemplating to bring such a rule so that all the information related to the person taking the mobile sim and opening the bank account can be fully investigated. With this, the details of any other person will not be used for these works. With this, fraud can be stopped in the case of banking and SIM.
What is the government’s plan?
According to a CNBC report, in the coming times, it may be made mandatory for telecom operators and banks to do physical verification of the customer. However, at present, whenever someone makes an application for opening a bank account and getting a SIM, it is verified by taking details from Aadhaar through online e-KYC. But on the other hand, the account of companies is opened only with the certificate of incorporation.
But in the last few days, the cases of fraud in banks have increased rapidly. The biggest reason for this is because of the easy availability of SIM cards and the opening of a bank account. According to a report by the Reserve Bank of India (RBI), the amount involved in bank fraud cases stood at Rs 41,000 crore in 2021-22.
Now the rules will change
Now the government is preparing to issue a new SIM card and change the process of opening a bank account. For this, stricter KYC rules are being considered. According to the information received from the sources, the government can ask the telecom operators and banks to implement the new rules soon. The Ministry of Home Affairs has also held a review meeting with the Ministry of Finance and Telecom on this issue. The roadmap for this decision has also been discussed in the meeting.
