New KYC by PSU banks

The new forms for KYC, common to all PSU banks, are a real pain. For a current account, a 17 page form with very small fonts. Most of it for those with financial service provider. But other companies, including proprietary ones, have to fill the same form where 60 per cent of queries are irrelevant! Data required to fill confounds even the post graduates.
The forms are designed to make it easy for data entry by computer operators. No thought given to customer at all. Ridiculous. And we say, customer is KIng!?
For saving bank accounts you need different form to fill for first holder and another form for second holder. And for second joint account, with same names in reverse order, one has to again fill same details! So total 4 forms, two of which give the same details.
Britishers left India more than 70 years back but babus still follow those silly systems which were relevant then. And if you have a current account, a PPF account, and two joint saving accounts you need to fill so many forms for each account with same details. How stupid the babus can get, there seems to be no limit. And even if your account is in order there is a threat that if KYC is not done, and this happens almost ever year or alternate years, the account will be frozen.
God save country from such stupidity. more  

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For example. Take 15 H form for Senior Citizens. Your investments are at many places and you have to fill that many forms. Why not Govt create one 15 H Form and link it with the Pan Number of the Senior Citizen and that information can be seen by all the agencies. This will reduce their hardship. more  
Root cause for all such maladies is GUARANTEED IMMUNITY. From the Orderly to the Chairman, everyone is assured of immunity. First to shirk the responsibility - No body has got any responsibility since 'IS DONE BY THE SYSTEM'. If you complain above result is 'You are our valued customer - for the best mutual relation ......'
State Bank of India has prescribed Pillars to Posts, well displayed in the branches as also in the website, after which you need to run.
Suggested Remedial measures : for a single complaint, from the dealing assistant to the branch manager - forfeiture of Gross Salary of one month, with effect in superannuation benefits. For multiple complaint and repeated, forfeitures to multiply that no. of times.
If the malady comes from any level above the branch level : same penalty From branch manager level to CEO level.
In the event of Court cases: Full expenditure towards that case, added with other costs, indirect+ fixed, to be recovered from the CEO and CMD, and NOT FROM Bank Money. more  
They follow age old procedures. In HDFC bank, to add an email id to an existing account (the account holder did not have an email id when it was opened 20 years back, but kyc is sent regularly) the entire account opening form needs to be filled up with all the documents and photograph.Reason: process and audit.
In the IT terminology, there is a test called user experience. Banks need to learn this. more  
Banks usually ask personal data. The increase in number of pages is due to bilingual format. Some useless data collection and information can be ignored or should be removed. more  
Nirmala Seetharaman, the Finance Minister has been running this ministry in trial and error method. Without sufficient expertise in Finance, she works on day to day basis as per oral dictates of PMO. Every Finance Bill and transactions out of Treasury can be made after prior approval of Lok Sabha, but we have never seen attendance of MPs or any system to sanction crores of investments being announced at public meetings by Modi ji. So is the system of working of Banks, It Department as some novice decide hurriedly what is required to be done instantly to impress public media and surprise the opposition. more  
Without sufficient expertise in Finance? Mrs. Sitharaman has an M.Phil in Economics. Some responsibility also rests on Modi for he seems to be more overall in charge. more  
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