RBI issues guidelines for doorstep banking

The Reserve Bank of India has issued guidelines for banks to provide "doorstep banking" to individual customers, government departments and corporates.

Banks will be able to collect cash, instruments and deliver demand drafts to their customers, government departments and corporate at their doorstep.

For corporates and governments, banks can also deliver cash against cheques received at bank counters. The new guidelines were framed to ensure transparency, and clearly identify risks involved in extending such services, the RBI said.

Drawing attention to circulation of forged notes, the RBI said banks should educate their agents, who extend door step banking, to detect forged and mutilated notes to avoid frauds and disputes.

The RBI said banks should assess the risks arising from doorstep banking services to customers, directly or through agents. Banks may consider prescribing cash limits for their agents and customers to manage risks, it added.

The agreement with the customer must make it clear that service does not entail any legal or financial liability for failure to offer doorstep services under circumstances beyond its control.