Doorstep Banking: Preparation for providing banking services to senior citizens at home, notification will be issued

Doorstep Banking For Senior Citizens: The government can give a big gift to 5 crore senior citizens above 70 years of age. The government is soon preparing to provide basic banking services to senior citizens at their homes. The Department of Financial Services (DFS) under the Ministry of Finance is about to notify new rules for bankers, in which some bank branches will be required to provide banking services to senior citizens at their doorstep.

Doorstep Banking Services will be available not only for senior citizens but also for the differently-abled. Very low user fees will be fixed for this service. Also a universal phone number will be launched for doorstep banking facility. Banking sector regulator RBI has issued mandate twice for doorstep banking service. In which banks were given the first deadline 31 December 2017 and the second deadline 30 April 2020. But the doorstep banking service has not been started in the whole country yet. But by issuing notification, the government wants to start these services by making it necessary within the stipulated time limit.

Under doorstep banking services, facilities like account opening, fixed deposits, pension services, insurance, investments and loans will be offered. It will be necessary to provide this service for the branches of the banks which will be identified for this service. Later other branches will also be connected with this service.

The Indian Banks Association (IBA) in collaboration with the Department of Financial Services has prepared the draft of the New Bankers Guide. Which will be placed before the CCPD (Chief Commissioner for Persons with Disabilities) before notifying. In June itself, the Department of Financial Services held discussions with representatives of RBI, PFRDA, Oriental Insurance, LIC and IBA. In this meeting, IBA was asked to update the Bankers Guide for 2017.

In the delivery of doorstep services, not only banking services but also insurance and currency services will be brought under its purview. Banks have been asked to update complete information on the website about branches providing such services.

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