Open a/c for minority students, banks told

 
“It has been brought to our notice by Ministry of Minority Affairs Secretary that banks are not opening ‘no-frills’ accounts in favour of students from minority communities who wish to avail of the scholarships being awarded by the Ministry through the State/UT governments,” RBI said in a statement.

This is causing hardship to the applicants for scholarship schemes of the government and is inviting criticism, it said.

Therefore, it has been advised to ensure opening of no-frills accounts or other accounts for students from minority communities or other disadvantaged groups, when they approach a bank, for availing various scholarships or other benefits offered by the government.

However, while opening such accounts, KYC (Know Your Customer) norms as appropriate may be followed for the purpose.

DH Newsletter Privacy Policy Get the top news in your inbox
GET IT
Comments (+)