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Sim Card and Bank Account Rules Change In India : The central government is going to tighten the rules for issuing a new SIM card and opening a new bank account. The reason behind this is being considered to curb the increasing cases of online fraud in the country.
Fraud happens in banks account
It is known that the cases of fraud in banks have increased rapidly in the last few years. By taking mobile SIM on fake documents, its use is being carried out for criminal activities. SIM cards are easily available, with the help of which this is happening due to the opening of a bank account. According to the Reserve Bank of India (RBI) report, the amount involved in bank fraud cases stood at Rs 41,000 crore in 2021-22.
Now these things will be taken care of
- All the information related to the person taking the mobile SIM and opening the bank account will be thoroughly scrutinized, so that the documents of any other person cannot be used for both these works.
- It may be made mandatory for telecom operators and banks to do physical verification of the customer. Now, if anyone makes an application for opening a bank account and getting a SIM, then it is verified by taking details from Aadhaar through online e-KYC. At the same time, the account of companies is also opened only with the certificate of incorporation.
- The government is now preparing to make changes in the process of issuing a new SIM card and opening a bank account. Now the government is considering to tighten the KYC rules. Under this, the government can make the physical verification of the customer mandatory. The facility of opening bank accounts and taking mobile SIM, which is currently being given through Aadhaar verification, may be closed.
- The government can soon ask the telecom operators and banks to implement the new rules. The Ministry of Home Affairs has also held a review meeting with the Ministry of Finance and Telecom on this issue.
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