No need to specify religion for bank accounts, KYC: Finance ministry

NEW DELHI: The finance ministry on Saturday clarified that there will be no requirement for Indian citizens to declare their religion for opening a bank account or for KYC (Know Your Customer).
Rajeev Kumar, finance secretary, said in a tweet that nobody will be required to specify their religion to use their existing bank accounts, to open a new bank account or for getting their KYC done.
Kumar further urged people to not fall for rumours.

The ministry's clarification comes amid reports that the banks could ask clients to specify religion in the wake of changes made to the regulations under Fema, which extend the benefits of opening NRO accounts and holding property to select religious minorities, excluding Muslims.