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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Q. Need to remove hurdles to opening new accounts: Discuss the need to remove all hurdles in the backdrop of demonetisation of high value currency.
Dec 09, 2016 Related to : GS Paper-3

Ans :


The people who do not have either bank account or Aadhar Card are faced worst hit by demonetisation of Rs 500 and Rs 1,000 notes. Many people in India still do not have a bank account and do not have Aadhaar Card. Due to this many people still struggling to obtain their legitimate due. 


  • Currently banks in India are refusing to open new accounts till the new year, on the ground that new Jan Dhan accounts are probably being opened to launder black money that belongs to someone other than the one opening the account. 
  • Similarly due to demonetisation, bank staffs have their hands full in the note exchange process, controlling queues and soaring tempers in the queue.

What needs to be done?

  • When the government launches its campaign to boost digital payments, spare a thought for the poor and help them get Aadhaar, and with the use of Aadhaar, they can open new bank accounts.
  • Due to demonetisation, it has now become a bare necessity in the absence of readily available cash. If they open a new account, they could make payments using debit cards or their phone whose number is linked to the bank account, using the electronic banking infrastructure.
  • Those without accounts must be encouraged and helped to open new accounts, at the earliest, for that there is an need campaign like government did in case of Jan Dhan Yojana.
  • The government must mobilise its Aadhaar-issuing machinery to issue Aadhaar to anyone looking to get one and it must be included as part of its digital payments campaign. 
  • The RBI must give express instructions to all banks to open new accounts for all those who want one, without creating any hurdles in between.


Any big ticket reform should come up with proper planning and implementation. Though demonetisation step intended towards curbing black money, but for that Indian banking infrastructure should be made well equipped. Government and RBI should make express provisions and instructions to banks, so that people may not suffer to open their new accounts. 

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