Current Affairs - April, 2019National Affairs Dose

IDBI Bank launches NRI-Insta Online, A paperless account opening facility for NRIs

IDBI Bank launches NRI-Insta Online, A paperless account opening facility for NRIs

IDBI Bank has launched ‘NRI-Insta Online’ account opening process for NRIs residing in Financial Action Task Force (FATF)member countries to open an account in the Bank without visiting the branch or submitting paper documents such as physical documents as well as  KYC proofs. This online facility is available in IDBI Bank’s website.
About  Financial Action Task Force (FATF):
i. FATF is an inter-governmental body founded in 1989, which devices policy and sets standards to promote successful implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing and other similarthreats to the integrity of the international financial system.
ii. The body accommodates 38 member countries, including India, China,US, UK,  Japan and France, among others.
About IDBI Bank:
♦ Full Name :  Industrial Development Bank of India
♦ Headquarters:  Mumbai
♦ Founded:  1 July 1964
♦ Parent organization:  Life Insurance Corporation

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