The KYC (know your customer) form submitted at the banks, might soon get an additional column that requires people to mention their religion.
This step comes in the light of recent changes made to the Fema Act regulation, which – quite similarly to the Citizenship Amendment Act – has made it possible for immigrants from Pakistan, Bangladesh and Afghanistan to open a bank account in India and hold property.
But this only includes Hindus, Sikhs, Buddhists, Jains, Parsis and Christians, while excluding atheists, Muslims and immigrants from Myanmar, Sri Lanka and other neighbouring countries.
As reported by the Times of India, the Fema (Acquisition and Transfer of Immovable Property in India) Regulations, states:
A person being a citizen of Bangladesh, Pakistan or Afghanistan belonging to minority communities in those countries — Hindus, Sikhs, Buddhists, Jains, Parsis and Christians and granted an LTV, may purchase only one residential immovable property in India as dwelling unit for self-occupation and only one immovable property for carrying out self-employment.
