Business

No need to mention religion for bank A/c, KYC: Finance Secy

The Finance Ministry on Saturday said no Indian citizen has to mention religion for opening an account in banks.

migrator

New Delhi

Banking and Finance Secretary Rajiv Kumar, in a tweet, said: "No Indian citizen has to disclose his/her religion for opening a bank account, for old account or for KYC formalities."

He has asked bank customers not to believe in such rumours and fake news.

This clarity comes after media reports stated banks may soon seek details of client's and depositor's religion in the KYC form following changes in FEMA Act regulations while opening an NRO (non resident ordinary) account.

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