What changed
Previously, doorstep delivery of cash/drafts was permitted for corporate customers, government departments, and PSUs. Now, banks can also deliver to individual customers against cheques received at the counter or requests via secure channels like phone or internet banking.
What it means for you
Banks can offer a more convenient service to retail customers, potentially increasing customer satisfaction and loyalty. However, they must implement robust security measures, including user authentication as per earlier RBI guidelines, to mitigate fraud risks.
What you must do
- Update internal policies to include doorstep delivery for individual customers.
- Ensure secure authentication protocols (e.g., phone/internet banking) are in place as per RBI circular DBOD.Comp.BC.130/2000-2001.
- Train staff on handling cash/draft deliveries and verifying customer requests securely.
- Review and strengthen safeguards against theft or misuse during doorstep transactions.
Who it affects
All scheduled commercial banks (excluding RRBs), Individual retail banking customers, Corporate customers and government departments
Can we deliver cash to any individual customer's doorstep?
Yes, as per this circular, banks can deliver cash or drafts to individual customers, provided the request comes via a secure channel like phone or internet banking, or against a cheque received at the counter.
What security standards must we follow for doorstep banking?
Banks must adopt technology and security procedures from the June 14, 2001 circular (DBOD.Comp.BC.130/2000-2001), especially user authentication as per paragraph II(b), and take adequate precautions.
Does this apply to Regional Rural Banks (RRBs)?
No, the circular explicitly excludes RRBs from its scope.