New Delhi, March 3 -- When millions of Indians cannot afford a Rs.10 packet of Parle-G biscuits, how do we expect them to spend Rs.100 a month on a 4G SIM card to access their own money? Financial inclusion should mean ease of access. But for many, it has become an uphill battle.

Bank accounts being suddenly frozen due to KYC issues is a growing crisis across India, leaving millions locked out of their savings. While customers blame banks and banks blame regulations, the real issue runs much deeper.

Banks are bound by regulations, including the Prevention of Money Laundering Act (PMLA), which requires them to track suspicious transactions. They must file suspicious transaction reports when red flags arise.

These indicators may be eithe...