BANKS’ ANTI-FRAUD MEASURES CAN IMPACT CUSTOMERS NEGATIVELY – THE INDIAN CASE
May 1st, 2017
INDIA’S financial sector has been taking increasingly strong measures to fight against banking fraud, but tough anti-fraud measures adopted by Indian banks can upset customers, reducing business and obstruct government plans to popularise banking services.
The Bank of India, a government-owned commercial bank, for instance, now blocks all withdrawals from an account that has not recorded a transaction for three months. Customers have to visit a bank branch and make a written request to gain access.
In the past, it (and still a majority of Indian banks) wait ...
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