Millennium Post

Deadline for banks to allot unique ID extended

The Reserve Bank of India has extended the deadline for banks to complete the process of allotting a unique customer identification code to their customers to 31 March, 2014.
Banks, however, will have to allot the unique customer identification code (UCIC) to all customers while entering into new relationships.
RBI said some banks had expressed difficulties in implementing UCIC due to various reasons, and have sought more time to allot UCIC to their existing account holders.

'Keeping in view the constraints, the time for completing the process of allotting UCIC to existing customers is extended up to 31 March, 2014. We, however, reiterate that UCIC should be allotted to all customers while entering into new relationships,' RBI said in a notification.
Agencies

Agencies

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