Mumbai: RBI KYC Update New Guidelines: Bank account holders no longer need to visit their account bank branches to update know-your-customer (KYC) details, provided they have already submitted valid documents and have not changed their address, RBI said.
Instead, if there is no change in KYC information, they can self-declare through email, registered mobile number, ATMs or any other digital channels.
Now for KYC update Banks should not ask for branch-level verification if customer does e-KYC, says RBI in a statement.
Reserve Bank Governor Shaktikanta Das who said that banks should not insist on branch visits for KYC update, the central bank on Thursday issued guidelines for the same. “As per new guidelines, if there is no change in KYC information, a self-declaration from an individual customer will suffice to complete the re-KYC process.
“All Banks have been advised to provide such self-declaration option to individual customers through various non-personal channels like registered email ID, registered mobile number, ATMs, digital channels like online banking, internet banking, mobile apps, letter etc., without the need to visit a account holding bank branch,” he said.
If there is only a change of address, customers can provide the correct updated address through any of these channels, after which the bank will verify the declared address within two months.
RBI KYC Update New Guidelines:Required Documents
The RBI said banks have been mandated to keep their records up-to-date and relevant by conducting regular reviews and updates to comply with the Prevention of Money Laundering Act, 2002 (PMLA).
The new KYC process is required if the KYC documents available in the bank records do not match the current list of officially valid documents Passport, Driving Licence, Proof of Aadhaar Number Holding, Voter ID Card, NREGA Job Card and National Population Register issued letter.
In such cases, banks are required to provide acknowledgment of receipt of KYC documents as self-declaration submitted by the customer, RBI said.
“Updated KYC process can be done by visiting a bank branch or remotely through Video Based Customer Identification Process (V-CIP) wherever banks allow,” it said.
“Individual bank customers are advised to obtain more information from their bank on the various options available to them for completing re-KYC such as submitting a self-declaration through various face-to-face channels). completing a new KYC by visiting a bank branch or remotely through V-CIP.
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