For senior citizens, Reserve Bank of India (RBI) has issued necessary instructions to banks to offer banking facilities for them. The RBI took this decision in the wake of reports that banks are discouraging senior citizens and differently abled persons from availing banking facilities in branches, asking lenders to become sensitive to their requirements. Under this provision, senior citizens above 70 years can do certain basic banking transactions from their home, as the bank will arrange to have cash or cheque picked from their home against receipt. According to rbi.org.in, "you will also deliver cash withdrawn from your account or demand draft drawn on your account. Most importantly, you can submit your KYC documents and Life Certificate to the bank sitting at your home. The bank may charge you for the service, depending on their Board approved policy; however, banks have also been asked to provide certain other facilities to senior citizens free of charge." 

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Further, the RBI also informs to have given instructions to banks on banking facility for senior citizens. In you visit the website- www.rbi.org.in/seniorcitizens, you will be able to find valuable informations for senior citizens under five messages including: 1-Beware of Ponzi Schemes & Scams; 2-Know how to lodge complaints with banks and banking ombudsman; 3-Estate planning tools; 4-You have good reasons to smile if you are a pensioner; and 5-Investment products suitable for post-retirement life.

According to the RBI initiative, banking facility for Senior Citizens have been provided in the following way: 

1. Dedicated Counters/Preference to Senior Citizens, Differently Abled Persons: Banks have been advised to provide a clearly identifiable dedicated counter or a counter which provides priority to senior citizens and people who are differently abled including visually impaired persons.

2. Ease of Submitting Life Certificate: In addition to the facility of Digital Life Certificate under ‘Jeevan Praman’ Scheme, pensioners can submit physical Life Certificate form at any branch of the pension-paying bank. Receiving Banks should promptly update the same in the Core Banking Solution (CBS) system to avoid any delay in credit of pension. 

3. Automatic Conversion of Account Status: KYC-compliant accounts would automatically be converted into ‘Senior Citizen Accounts’ on the basis of date of birth maintained in the bank’s records.

4. Ease of Filing Form 15G/H: Banks are advised to provide senior citizens and differently abled persons Form
15G/H once in a year (preferably in April) to enable them to submit the same, where applicable, within the stipulated time. 

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5. Doorstep Banking: Banks have been advised to make a concerted effort to provide basic banking facilities, such as pick up of cash and instruments against receipt, delivery of cash against withdrawal from account, delivery of demand drafts, submission of Know Your Customer (KYC) documents and Life certificate at the premises/residence of such customers.