When opening a bank account, completing the onboarding process from the comforts of home is quite a relief for many people. But it may soon be a thing of the past as many banks are now returning to the old ways of physical verification for new persons opening accounts, as lenders have been facing the problem of identity theft and mule account openings, several banks told the Economic Times.

Not just that, leading banks such as ICICI Bank , State Bank of India , Bank of India and Bank of Baroda have halted their end-to-end digital onboarding systems, the report says. These banks have started asking customers to approach the nearest branch for document submission or for the physical verification of applications, and have also been sending bank officials to the customers, accor

See Full Page