Canindia News

MMK opposes Central Bank KYC norms on NPR as proof

Chennai, Jan 15 (IANS) Objecting to Central Bank of India listing a letter from National Population Register (NPR) as one of the identity proof documents for ‘know your customer’ norms, the MMK party in Tamil Nadu has called for a bank boycott.

Similary, the leader of a major union in the banking sector said the existing KYC norms are sufficient and Central Bank should withdraw its stipulation.

The leader of Manithaneya Makkal Katchi (MMK) M.H. Jawahirullah in a statement said the Central Bank with “mischevious intention” has listed the NPR letter as an identity proof for KYC in its advertisements.

He said the bank has called its customers to submit a list of documents before January 31 for KYC norms.

Jawahirullah said work on NRP has not started and when it was done in 2010 no letter was issued to the people.

He has called on customers and people to boycott Central Bank for this “illegal act”.

Reacting to this the General Secretary of All India Bank Employees’ Association (AIBEA) C.H. Venkatachalam told IANS: “When so many issues of bank customers remain unattended what is the hurry to bring this stipulation now by RBI (Reserve Bank of India) or Central Bank of India.”

“It is like adding fuel to fire and adding salt to the wound. It should be withdrawn immediately. Existing KYC norms are more than enough now,” he said.

–IANS

vj/kr

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