This KYC is a nightmare if you have two addresses or have some mismatch in even a single initial in your name! It is as if KYC process has been worked out for robots with assigned numeric values during their manufacturing process! I am stuck with my MF house KYC rejecting my KYC saying there is some mismatch!
All these procedures make the lives of genuine commoners a living hell while the one who commit fraud always have the resources to find a way out and continue to whatever they have been doing – kyc or no kyc!
Instead of forcing people to change names, drop initials in 10s of records simply allow initials in PAN database. It will save hassles to millions of South Indians
#easeofdoingbusiness #pmoindia
Ha Ha. Agreed that KYC is stupid but no less stupid was what this guy’s father had done in the past, when Finance minister. His stupid 1 in 6 rule ensured that even old widows, with a telephone in their name and income far below taxable limits had to start filing returns. Now getting a taste of his own medicine. What goes around comes around. Really nothing to choose. Ultimately all Indian governments are only out to harass the ordinary citizen whilst giving a free pass to those who can pay.
Dear Kartik,
You should understand why the process is sooo strict for the Chidambum family! It is Karma. You know – the loans your father asked banks to give to unscrupulous businessmen, the money he swindled etc. so stop cribbing and get on with the process
This KYC is a nightmare if you have two addresses or have some mismatch in even a single initial in your name! It is as if KYC process has been worked out for robots with assigned numeric values during their manufacturing process! I am stuck with my MF house KYC rejecting my KYC saying there is some mismatch!
All these procedures make the lives of genuine commoners a living hell while the one who commit fraud always have the resources to find a way out and continue to whatever they have been doing – kyc or no kyc!
Maximum government and minimum governance is the mantra of Modi Sarkaar.
Instead of forcing people to change names, drop initials in 10s of records simply allow initials in PAN database. It will save hassles to millions of South Indians
#easeofdoingbusiness #pmoindia
Ha Ha. Agreed that KYC is stupid but no less stupid was what this guy’s father had done in the past, when Finance minister. His stupid 1 in 6 rule ensured that even old widows, with a telephone in their name and income far below taxable limits had to start filing returns. Now getting a taste of his own medicine. What goes around comes around. Really nothing to choose. Ultimately all Indian governments are only out to harass the ordinary citizen whilst giving a free pass to those who can pay.
Dear Kartik,
You should understand why the process is sooo strict for the Chidambum family! It is Karma. You know – the loans your father asked banks to give to unscrupulous businessmen, the money he swindled etc. so stop cribbing and get on with the process