Mumbai, Aug 9 (KNN) This is my last policy statement, but there are still 28 days in my term which I intend to use fully, said Dr Raghuram Rajan, Governor, RBI before ending his Third Bi-Monthly Monetary Policy Statement today.

He said, “Before I end this statement, let me use this platform for two important messages that initiate the year-long public awareness and consumer protection campaign the RBI is embarking on.”

First, one of the biggest sources of harassment for ordinary customers in the banking system is meeting KYC or Know Your Customer rules, he highlighted.

Actually, these have been simplified considerably in the recent past, but sometimes your local branch may not know it, Rajan said.

The applicable KYC rules can now be accessed from the RBI’s web page – there is a bar you can click on entitled “FAQs for KYCs”. For instance, if you move, your new address can be self-certified and you do not need proof of new address. If your branch does not know these simplified norms, please go to the RBI webpage and point it out to them. You will be doing a public service.

The second point that he highlighted was on phishing mails in the names of RBI Governors.

“…if you get an email from me or any future governor promising to transfer a large sum of say ₹ 50 lakh to you if only you send a small transaction fee of ₹ 20,000 to a specific bank account, delete the email.”

“The reality is such emails are not from me and the RBI does not give out money directly to ordinary citizens, even though we print plenty of it,” he said adding that while the emails usually contain very convincing reasons why you have been chosen to receive money, ask yourself why I cannot simply deduct ₹ 20,000 and send you ₹ 49.8 lakh.

“If you think for a moment, you should not fall prey to such emails,” he cautioned the public. (KNN Bureau)