‘Financial Literacy Week’ awareness campaign started; account-holders urged to submit KYC

In the midst of growing cyber crimes being orchestrated by online fraudsters to syphon off hefty amount from gullible account holders, District Collector R. Sukumar launched the ‘Financial Literacy Week’ awareness campaign here on Monday.

Since submission of ‘Know Your Customer’ (KYC) has been made mandatory to check this online fraud, the Collector, who received filled-in KYC forms from the customers, handed them over to the bank officials concerned.

Bankers participating in the awareness programme said the submission of KYC has been made compulsory for starting new account, mutual fund investment, starting Demat account etc. to eliminate forgery by submitting the filled-in KYC forms in the banks or online submission of the same to verify the identity of the customer. It also effectively checks the online fraud and illegal transfer of money.

“Hence, the account-holders should renew their KYC by submitting the form either physically or online,” the bankers said.

Manager of Lead Bank of the district, Indian Overseas Bank, Ganesh Manikandan, and the bankers were present in the meeting.