Press Information Bureau

Government of India

Ministry of Finance

22-November-2012 16:42 IST

The credit outstanding to minority communities for Public Sector Banks (PSBs) in Delhi has grown from 2195.13 crore as on 31st March 2008 to 4224.67 crore as on 31st March, 2012. Similarly the credit outstanding to minority communities for Public Sector Banks (PSBs) in Uttar Pradesh has grown from 5124.09 crore as on 31st March 2008 to 14953.17 crore as on 31st March 2012. The Indian Banks’ Association (IBA) has issued guidelines to its member banks on the “Simplified Uniform Saving Bank Account Opening Form and the Common List of KYC Documents” clearly laying down the procedure to be followed and type of documents to be obtained for opening of accounts.

This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.

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DSM/RS/bs

Simplified account opening and standard KYC rules streamline bank access for minority communities, enhancing uniform documentation procedures. The release reports growth in credit outstanding to minority communities for Public Sector Banks between the stated reference dates and records that the Indian Banks' Association has issued guidance on a Simplified Uniform Saving Bank Account Opening Form and a Common List of KYC Documents, specifying procedures and types of documents required for opening accounts.