RBI asks banks not to turn away senior citizens from branches

 

Reserve Bank has said banks should remain sensitive to requirements of senior citizens as well as differently-abled persons and should not turn them away from branches in order to promote digital transactions. The RBI said that it has been decided to instruct banks to put in place explicit mechanisms for meeting the needs of senior citizens as well as differently-abled persons so that they do not feel marginalised. The apex bank said that Ombudsmen will also be advised to pay heed to complaints in this context.

RBI also permitted co-operative banks to open current accounts. The regulatory norms have been eased in order to enable all co-operative banks to open current accounts and maintain Cash Reserve Ratio (CRR) with the apex Bank.

As a result, co-operative banks are constrained to maintain CRR balances with public sector banks, state co- operative banks and district central co-operative banks, and these balances are considered as inter-bank deposits.