RBI’s 3 Big Reforms: Direct Benefits for the Common Man | Jan-Dhan account will have to be done again KYC: Complete 10 years of the scheme; RBI instructed banks to go to village and re-KYC for free

RBI has directed banks to set up a special camp at the gram panchayat level from 1 July to 30 September. (Image AI is generated)

The Reserve Bank of India (RBI) has announced 3 changes today. These changes are related to Jan Dhan Scheme, Insurance Claim Rules and Investment.

These changes were decided in the meeting of the Monetary Policy Committee from August 4 to 6. RBI Governor Sanjay Malhotra gave information about this today i.e. on 6 August.

Understand the big changes related to the common man in 3 points here…

1. Re-Kyc will be for Jan Dhan Yojana

Special campaign for Jan Dhan Yojana is going to complete 10 years for Jan Dhan Yojana, and many account holders have to update their KYC. In view of this, RBI has instructed banks to set up a special camp at the gram panchayat level from 1 July to 30 September.

In these camps, people will be able to get their re-kyc, open new accounts, and will also be able to get information about government schemes like Pradhan Mantri Suraksha Bima Yojana.

2. A process for the claims of dead account holders

The RBI has announced the uniform process for the claim settlement of dead account holders. Till now, the rules of each bank were different, causing confusion, delays and problems in confusion.

Soon all banks will apply the same rules for the claim settlement of the dead customers. Nominee, legal heirs or family members will have the same process and similar documents. This will make it easier to claim and withdraw money in the bank.

3. Investment in government bonds will be automatic

RBI has made it easy to invest in government bonds or T-bills for retail investors (common people). A new ‘auto-bidding’ feature has been added to the RBI’s ‘Retail Direct’ portal.

With this feature, you can make automatic bids for new and re -investment at one time. This will not require you to bid manually again and again.

T-Bills will be able to schedule fresh investment and re-investments through automatic bids. For example, if an investor wants to invest in regularly T-bills, he can set it automatically.

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