Legal validity of thumb impression: LTI or RTI which is correct?
The Blind, illiterate, and other disabled persons can open and make certain bank account operations using thumb impressions. Bankers customarily extend helping hand to the disabled persons like sick/old/incapacitate who cannot be physically present to the bank, by offering special service to them. Many people have a confusion over why do officials ask for the…
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Banking Services for Illiterate, Blind, and Disabled Persons: RBI Guidelines and Best Practices
(This article elucidates what is inclusive banking, RBI guidelines, accounts of disabled persons, visually impaired banking, and financial inclusion in India) Introduction Inclusive banking is not just a policy goal—it is a social responsibility. The Reserve Bank of India (RBI) has issued comprehensive guidelines to ensure that illiterate, visually impaired, and other persons with disabilities…
Read articleRBI Guidelines on Accounts for Persons with Disabilities: Ensuring Inclusive Banking Access
The Reserve Bank of India (RBI) has taken progressive steps to ensure that persons with disabilities (PwDs) enjoy equitable access to banking services. Recognizing that accessibility is a key pillar of financial inclusion, the RBI’s guidelines mandate that banks provide both physical and digital support systems — including doorstep services, accessible ATMs, and assistance in…
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RBI Guidelines on Banking Facilities for Visually Impaired Customers
1. Introduction Ensuring equitable access to banking services for all individuals is a fundamental aspect of financial inclusion. Recognizing the challenges faced by visually impaired customers, the Reserve Bank of India (RBI) has issued detailed guidelines mandating that all banks provide comprehensive and non-discriminatory banking facilities to such individuals. These guidelines aim to remove physical,…
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Partnership and Limited Liability Partnership: Banking Requirements for opening account
1. Understanding Partnership Firms A partnership is one of the oldest and most common forms of business organization, where two or more individuals come together to carry on a business and share its profits and losses. Each partner contributes skills, capital, or resources and, in return, becomes jointly and severally liable for the firm’s debts…
Opening Current Accounts for Clubs, Societies, and Associations: Key Documents and Regulatory Requirements
As banking regulations continue to emphasize transparency, traceability, and compliance, account opening procedures for non-individual customers such as clubs, societies, and associations have become more structured and documentation-driven. Banks are expected to not only verify the legal standing of such entities but also establish a clear understanding of the individuals authorized to manage their financial…
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