• Share
  • Comments
  • Top Stories
  • Trending

Confusion over NPR triggers ‘huge cash withdrawal’ from bank

Confusion over NPR triggers ‘huge cash withdrawal’ from bank

Chennai: Over 100 residents of Nagapattinam District of Tamil Nadu State have withdrawn a major portion of their saving from a bank due to confusion prevailing over National Population Register (NPR).

In-charge of local Jamath at a school campus said that villagers fear that they may lose their hard-earned money.

Staff members of Indian Overseas Bank (IOB) have also approached local and explained that submission of documents is not mandatory during NPR exercise. However, panic-gripped customers are reluctant to believe in it.

‘NPR letter’ for KYC

It may be mentioned that earlier, many customers of Central Bank of India, Kayalpattinam had withdrawn cash after the bank’s notification mentioned ‘NPR letter’ as a document for Know Your Customer (KYC) update.

Later, the bank had issued a clarification that NPR letter is not mandatory rather it is an additional document. Despite issuing a clarification, confusion prevailed which had resulted in ‘cash withdrawal spree’.

Protest against NRC, NPR

It is reported that some persons are withdrawing cash as a mark of protest against NRC and NPR.

They claim that it is another form of protest against controversial laws.

Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS.

Go back to top