Recently, a letter from UCO Bank Balasore region is getting viral. In the letter Deputy Zonal Head has ordered to stop salary of employees if CKYC pendency is not removed.
What is written in letter?
Despite extending deadlines and issuing several reminders regarding CKYC pendency, the backlog at branches has not only persisted but has actually increased over the past week. The pending figures from various branches are clear, indicating that no significant efforts have been made to address the issue. As a reminder, non-compliance with the regulatory requirement to allot CKYC IDs within 10 days of account opening may result in penalties. Given the situation, we request that you clear the CKYC pendency by July 31, 2024, without fail. Please be advised that, as per the decision of the Competent Authority, salaries for branches failing to comply will be withheld from next month until the pendency is resolved.
