Bank acct holders lose online access on faulty details: Survey
MUMBAI : Several individuals across India are unable to access their bank accounts online for reasons ranging from defunct user credentials to account turning dormant, with the system of resuscitating it an arduous process, a survey has found. Community social media platform LocalCircles said after issues were reported by banking consumers over 18 months, it conducted a survey to understand the type and magnitude of difficulties faced by consumers.
It received 31,000 responses from 14,502 citizens and the platform said 44% respondents were from tier one, 34% from tier two and 22% were from tier three, four and rural districts. “In summary, the findings of the survey indicate that 41% of families have one or more individuals with bank accounts that they are not able to access online," it said.
About 19% were unable to access because the bank has put their account in dormant status and 60% indicated that their bank is “bureaucratic and inefficient" when approached for re-enabling their or their family’s account access online. Close to 7% said they were unable to access the bank account as it was in DEAF status, with balance transferred to RBI.
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