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RBI: Banks to allot unique customer IDs

The unique IDs should be allotted to existing customers by banks by May 2013

June 13, 2012 4:57 IST | India Infoline News Service
The Reserve Bank of India (RBI) has asked banks to initiate measure to allot Unique Customer Identification Code (UCIC) to all their customers.
The UCIC should be allotted to both new customers as well as existing customers. According to RBI, the code will help banks to identify customers, track the facilities availed, monitor financial transactions in a holistic manner and enable banks to have a better approach to risk profile its customers.
The central bank further said, this code should be allotted to existing customers by banks by May 2013.

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