Search
Canara Bank has partnered with RBI innovation hub
April 25, 2023
A lot of residents, especially senior citizens, submit their 15G and 15H forms to their banks at the beginning of each fiscal year, particularly in the first few weeks of April. Presently, our bank allows these forms to be submitted through online banking or mobile banking, which require familiarity with and access to these services.
However, many elderly individuals are not accustomed to using internet and mobile banking services, so they have to stand in long queues at bank branches throughout the day to submit these tax exemption forms.
The Reserve Bank Innovation Hub (RBIH) recognized the problem, engaged with various banks to explore possible solutions, and developed a blueprint to resolve the issue. The suggested solution employs technologies that elderly citizens are already familiar with, and uses an OMNI-channel approach. As a result, all depositors, including senior citizens, can now conveniently submit their Tax Waiver forms through SMS and Website, using their registered mobile phone number, from anywhere and at any time.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://ask.careers/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/