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Bank KYC forms may seek details of clients' religion

Bank KYC forms may seek details of clients' religion

Saturday, December 21, 2019, 12:10 PM

Soon, banks may introduce a new column in 'know your customer' (KYC) forms for their depositors and clients to mention their religion. This requirement has arisen in the wake of the recent changes made to Fema Act regulations, which extend the benefits of opening NRO accounts and holding property to select religious minorities, excluding Muslims.
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