Friday, March 16, 2012


The world's local bank has sent an urgent mailer citing RBI regulations of KYC (Know your customer) asking to submit proof of ID and residence. I have more than one account with this bank ( an anomaly I intend to correct very soon ). Interestingly 1 form has been received which is designed to capture data of 1 account only . Perhaps the bank expects the customer to toss a coin and pick which one to send the docs for .

RBI is indeed wise in asking Hsbc to 'know their customers' knowing well that a self absorbed bank with near zero internal co-ordination like Hsbc must not know it's customers well enough.

None of the other banks send letters like this . Guess they already 'know their customers'.