Not many branches use a simple form of Know-Your-Customer guidelines for opening accounts. Customers still find it difficult to walk into a branch for foreign exchange transactions, RBI Deputy Governor Usha Thorat said at the Indian Banks Association's (IBA) annual general meeting.
Thorat also said RBI will issue further instructions for "operationalising" the farm loan waiver scheme. On rising bad debts in the farm loan sector, she said, "We have data on NPAs in all sectors."
SBI rolled back ban on new farm equipment financing following pressure from the government and industry bodies. "SBI has clarified the scheme," the RBI deputy governor said at the event.
