Monday, April 24, 2023

Union Bank of India Simplifies “Form 15G & H Submission In Association With Reserve Bank Innovation Hub”

Union Bank of India, the country’s fifth largest public sector bank, in collaboration with Reserve Bank Innovation Hub (RBIH), simplified the annual submission of Form 15G & H for its customers by enabling online submission via the Bank’s WhatsApp channel, Union Virtual Connect (UVConn).  

Union Bank of India customers can avail banking services in 7 different languages through UVConn by sending ‘Hi’ through WhatsApp on the Bank’s number ‘09666606060’ from their registered mobile number with the Bank. The Bank in collaboration with RBiH has now launched the additional feature of "Hassle Free Submission of Form 15G & H" through UVConn. Form 15 G & H are self-declaration forms used to claim exemption from TDS by individuals aged below 60yrs & above 60yrs respectively. 

Speaking on the initiative, Shri Nitesh Ranjan, Executive Director of the Bank, said that “Union Bank of India has previously collaborated with Reserve Bank Innovation Hub (RBiH) to launch digitization of Kisan Credit Card. Taking this journey forward, Bank and RBiH have now launched "Hassle Free Submission of Form 15G & H" through the Bank’s WhatsApp channel Union Virtual Connect (UVConn)”. He further reiterated that “Union Bank of India has always strived to satisfy the aspirations of both its senior citizen and tech savvy customers and the Bank will further endeavor to make financial services accessible to all.” 

Shri Rajesh Bansal, CEO of RBiH, said "At RBIH, we work with the single-minded objective of making financial products and solutions accessible to every citizen. Senior citizens form a very significant part of our population, and this initiative aims to simplify a usually-complex 15 G & H forms submissions through communication channels they are already accustomed to. This means adoption of the solution becomes easier and the submission process is simplified - both for the bank and the citizen." 

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