Banking News

Rights of transgender persons – changes in bank forms/applications etc.


RBI in its communications  dated 23.04.2015 to all scheduled commercial banks advised the banks to refer to the judgment dated April 15, 2014 of Supreme Court in the case of National Legal Service Authority v Union of India (AIR 2014 SC 1863: (2014) 5 SCC 438) on treating all transgender persons as ‘third gender’. The Supreme Court, in that case, upheld transgender persons’ right to decide their self-identified gender and directed the Centre and State Government to grant legal recognition of their gender identity such as male, female or as third gender.

Accordingly banks are, directed to include ‘third gender’ in all forms/applications etc. prescribed by the Reserve Bank or the banks themselves, wherein any gender classification are envisaged.

The banking regulator said that changes in bank forms/applications etc.is necessitated as the matter was brought to their notice that transgender persons face difficulties in opening accounts as there is no provision for them in the account opening and other forms.

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