New Delhi: No need to go directly to the bank to renew KYC, says Reserve Bank. KYC in banks if there is no change in the information in the identity document. The Reserve Bank informed that there is no need to come to the bank to complete the renewal process.
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Instead, self-certification through e-mail, phone, ATM and net banking is sufficient, according to the RBI's instructions. KYC The Reserve Bank's intervention comes in the backdrop of rising complaints over banks' requirement that people visit branches for renewal.
There was also a situation where banks did not consider the documents even though they were provided digitally. RBI clarified the issue. If there is only a change in address, this can also be reported to the bank online. Bank verification will be done within 2 months. First time KYC procedure is also not mandatory to go to the bank branch. It can use video based customer identification facility.
KYC only if the current documents do not match with the documents provided in the bank. Ask for renewal. KYC even if the documents issued earlier expire. The Reserve Bank's directive also says that renewal can be requested.
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