No need to visit your bank to update KYC: RBI

Nowadays everyone is paying with cashless payment that why KYC play important role in cashless payments. You need your KYC updates from time to time.

KYC Verification
According to RBI if you already submitted your documents and not changed the address customer can
submit a self-declaration through email. Bank took this decision to be convenient for customers and if an address is changed customer should update the address then the bank will verify within 2 months.

Other options for KYC update
Customers can also complete the KYC process through a video call to the bank that provides a facility KYC process undertaken when documents in the bank’s records do not confirm to the current list of officially valid documents.

According to governor Shaktikanta Das
He clarified in the post-policy press conference that banks should not insist on bank visits.

Officially valid documents for KYC
The document which is needed for the KYC process is a passport, driver’s license, Adhaar card, Voter ID, and job card issued by MGNERGA and later issued by the National Population Register.

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