The article was first published in The Print on March 30, 2022.
In a progressive society, financial inclusion is crucial for every individual, including persons with disabilities. The Reserve Bank of India (RBI) has laid down clear guidelines to ensure that banking services are accessible to all, irrespective of physical or cognitive impairments. However, despite these regulations, many people still face challenges in opening and operating a bank account for disabled individuals. It is essential that banks adhere strictly to these guidelines and foster an inclusive financial ecosystem.
The RBI has issued multiple directives instructing banks to provide seamless services to persons with disabilities. These include ensuring that banking facilities, such as ATMs, online banking, and customer service, are accessible to people with visual, hearing, or mobility impairments. Additionally, RBI mandates that a bank account for disabled individuals should be opened without unnecessary obstacles, such as requiring an able-bodied guardian unless legally necessary.
Banks must offer accessible branches with ramps, wheelchair-friendly infrastructure, and Braille-enabled ATMs. Moreover, customer service representatives should be trained to assist persons with disabilities, ensuring that they can conduct transactions independently and securely.
Despite RBI’s clear policies, many banks still fail to provide adequate support to disabled customers. Some banks impose restrictions that are not legally required, such as asking for multiple signatures or unnecessary medical certifications to open a bank account for disabled persons. Additionally, digital banking platforms are not always user-friendly for visually impaired individuals, making it difficult for them to conduct transactions independently.
Another common issue is the lack of awareness among bank employees regarding RBI’s guidelines. Many persons with disabilities report facing discrimination or undue bureaucratic hurdles when seeking financial services. Such challenges hinder financial independence and contradict the principles of inclusive banking.
To ensure equal financial access, banks must not only comply with RBI guidelines but also actively improve their infrastructure and customer service policies. Regular audits should be conducted to evaluate banks’ adherence to accessibility norms, and penalties should be imposed on institutions failing to comply. Additionally, financial literacy programs tailored for persons with disabilities can empower them to manage their finances effectively…
Read more at The Print
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