1st July 2017 Onwards, Bank Account Operation May Get Hard For Some

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The constant effort of this government to identify the person operating the bank accounts in India will bring some jolt to people who have bank accounts without proper identification. This is not just a regular Know Your Customer (KYC ) type exercise , but a law brought in recently will prohibit the operation of thousands of bank accounts all over India. Bank branch manager may be under tremendous pressure to abide by the new law as well as from the local influential people who may be operating surreptitiously many bank accounts in the name of his workers, or relatives. 

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