New Delhi: Apart from the key policy rate cut in Annual monetary policy 2012-13, announcements were made to improve the quality of service to the customers. Under this proposal, the customers will now be allocated a unique identity number as well. To increase the number of ATMs in the country, the non-banking firms will also be allowed to setup ATMs.

RBI has made it cleared that there will be uniformity of interest rates offered to customers across all banks for the loans of same amount and tenure.  Apart from the senior citizen scheme or more than Rs 15 lakh schemes, there will be uniform interest rate offered for the rest of all deposit schemes. Similarly, Banks are told to provide banking services to no-frills account holders. Most of the banks open no-frills (zero balance account) under the pressure from government and hence does not provide any services to such customers.

 Announcement of assigning a unique identity number (UCIC) by banks will be handy. It will be easier for Banks to scan the records of customers facilitating an easier process of providing loans to the customers. The central bank has directed banks to assign this unique number to all the customers by April 2013.

RBI also emphasized on releasing new crisp currency notes and coins into the system. All the banks are said to strengthen their distribution system to meet the demand of new currency notes and coins. A committee has been formed to suggest the ways to eliminate dearth of new coins in the system.