Ease in bank accounts

When we go to new city and want to apply for any service or product, mostly we worried about the documents required like address proof, ID proof etc.

Ex: When I went to Hyderabad for higher studies I wanted to apply for SB account in an Indian leading bank but due to unavailability of local address and identity proof I was unable to apply.

Same is there if you go for gas connection, sim connection etc.

Now RBI eases the process for account opening. Today If you have any permanent address proof means the address at which you usually resides and can be taken as the address as mentioned in a utility bill or any other document accepted by the bank for verification of the address of the customer and banks can also accept an identity document and a utility bill of the relative with whom the prospective customer is living along with a declaration from the relative that the said person (prospective customer) wanting to open an account is a relative and is staying with him/her. Banks can use any supplementary evidence such as a letter received through post for further verification of the address.

May be you wonder that why RBI relaxed the account opening process.

• To avoid inconvenience to individual who is coming first time to the place.

• Bank account helps individual to apply for other basic requirements like mobile connection, gas connection etc

Problem for Banks:

• Proper KYC (know your customer)
• AML (anti money laundering)

To know more about this click here ===>

Changing Banking Strategies

Banking Industry is most attractive and challenging industry in our country, with the change in business dynamics our work culture, lifestyle is also changes accordingly. Presently banks are offering highly customized, comprehensive & cost effective portfolios to the customers as per their requirements. Five years back no can believed that banking will change so quickly where customers or clients like businessmen & bigshot professionals are not required to come to branch for their personal banking, business banking & investments.

Do we ever thought of this ease where banks will come forward with customized managed portfolio programmes where they (BANKS) will manage customer’s personal banking (Saving accounts), investments solutions and business banking (current accounts etc) under single portfolio. Today it’s possible If you won’t believe just check out this link Premier Banking

What you think as a businessmen or professionals Its worth go for that???