'To make settlement simpler': RBI to simplify claims process for deceased customers' nominees; banks launch re-KYC drive for Jan Dhan accounts
RBI Governor announced measures to simplify claim settlements for deceased customers' accounts and lockers, alongside a re-KYC drive for PMJDY accounts via panchayat-level camps. The Retail Direct platform will now offer SIPs in treasury bills. Bank credit growth slowed to 12.1% in FY25, but total financial resource flow to the commercial sector increased.
RBI Governor announced measures to simplify claim settlements for deceased customers' accounts and lockers, alongside a re-KYC drive for PMJDY accounts via panchayat-level camps. The Retail Direct platform will now offer SIPs in treasury bills. Bank credit growth slowed to 12.1% in FY25, but total financial resource flow to the commercial sector increased.
