Very soon, bank KYC or Know Your Customer forms will have a new column for all clients: Religion. If this happens, this would be for the first time that religion will be asked to bank customers’ KYC. But what is the reason? Bank KYC Will Have Religion: What Is The Reason? As per a report by Times of India, banks can be forced to include a religion column in their KYC documents, because of changes made in the FEMA Act Rules. FEMA or The Foreign Exchange Management Act is a 1999 act to “to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India”. As per a recent change in the FEMA Act, benefits of opening NRO accounts and holding property will now extend to few religious minorities, which excludes Muslims. As per an amendment made last year, Hindus, Sikhs, Buddhists, Jains, Parsis and Christians — from Afganistan, Pa