(a) whether the Government is aware that senior citizens facing lots of difliculties in making
transactions with banks;
(b) if so,the details thereof;
(c) whether the Government proposes to issue guidelines to Public Sectpr Banks(pSBs) and insurance
companies for helping senior citizens;
(d) if so, the details thereof;and
(e) the steps being taken by the Government in tl1is regard?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE(SHRI PAWAN KUMAR BANSAL)
(a) to (e): Reserve Bank of India (RBI) had issued guidelines to banks regarding operation of bank
accounts by old/sick/incapacitated persons,which inter-alia,include operation of bank account by
persons who are too ill to sign a cheque or cannot physically present in the bank to withdraw
money.
In order to encourage a formal channel of communication between the customers and the bank at the
branch level,banks have been advised by RBI to take necessary steps for strengthening the branch
level customer service committees with greater involvement of customers.Further as senior citizens
usually form an important constituency in banks,banks were advised to preferably include a senior
citizen in the branch level committees.
IRDA has also issued instructions to all general insurance companies to institute such a separate
grievance channel for senior citizens in Iheir respective organizations.