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14. Mr. Maninder Singh, learned senior counsel appearing on behalf of the petitioners at the outset submits that all four bank accounts of HIMSR i.e. two maintained with UCO Bank and two with PNB Bank are fully KYC complaint. He submits that KYC norms for the above- mentioned bank accounts for the purpose of running the medical college and the hospital have been fulfilled by the petitioners and this fact has been acknowledged in the impugned order dated 10.10.2024 passed by RBI Ombudsman.

15. He submits that KYC norms is a matter purely between the account holder i.e. the petitioners, and the respondent nos.2 and 3 banks and no third party has any locus standi in this regard. Once it is admitted that the accounts are fully KYC compliant, it is not permissible for any third party to create any obstruction in smooth operation of bank accounts and the RBI Ombudsman shall have no jurisdiction in this regard.

44. The relevant excerpts of the impugned order dated 09.10.2024 passed by UCO Bank reads as under:

"Consequent to various meetings with the Banking Ombudsman, now RBI has pointed out deficiencies while opening of the account of M/s Hamdard Institute of Medical Science & Research in our bank using the PAN of Hamdard Education Society (HES) without obtaining proper OVDs for KYC and has strictly instructed do Re-KYC of the account as per RBI Master Direction - Know Your Customer (KYC) latest updated as on 04.01.2024, for allowing any further operations. As the matter is highly sensitive and is pending with our Regulatory Authority being Reserve Bank of India, we are suspending debit transaction of your account no. 2037011006872 in the name of M/s Hamdard Institute of Medical Science & Research till re-KYC is completed.

XXXX XXXX XXXX In view of these findings, it is observed that UCO Bank was deficient in opening the accounts of HIMSR and HAHC without obtaining proper Officially Valid Documents (OVDs) for KYC purposes. The bank was accordingly advised to carry out re-KYC for both accounts and obtain necessary OVDs as per RBI guidelines. It was emphasized that Family Settlement Deed cannot be considered an OVD for KYC purposes. UCO bank has accepted this advisory and, as an interim measure, has blocked the debit operations in both these bank accounts from 09.10.2024. The bank also confirmed that debit operations will only be resume after the completion of re-KYC process in accordance with RBI guidelines"