The Reserve Bank of India (RBI) has warned that customers' accounts in banks and financial institutions may be frozen if the KYC is not updated.
Everyone knows that bank customers have already been notified that the KYC update must be completed by December 31, 2021. In this case, those who failed to do so yesterday have been given another three months to do the KYC update. If the customer does not update the KYC in the bank account, it can be done till March 31, 2022.
It is mandatory for all bank account holders to complete the KYC update. Who are the money changers? This KYC update is for the bank to know the details of. The Reserve Bank has directed that KOC documents should be updated periodically as a precautionary measure and as a protection for customer money. Based on the transfer method and other characteristics, the KYC renewal period is divided into three types. 2 years and 8 years.
Therefore, the Reserve Bank had announced that customers' accounts in banks and financial institutions are likely to be frozen if the KYC is not updated. December 31 2021 was also announced as the last date to update this. Banks were alerting customers about this. But now the Reserve Bank has given customers another 3 months to do so. Due to this, the KYC option can be done before March 31.
KYC apte is very, very easy to do. This can be done by going straight to the bank that holds the account. Many banks also have the facility to update online. Some banks even offer the option of updating the QOC via video. You can contact the Banking Service Center number where you have an account for more details.
The Reserve Bank of India (RBI) has warned that customers' accounts in banks and financial institutions may be frozen if the KYC is not updated.
Everyone knows that bank customers have already been notified that the KYC update must be completed by December 31, 2021. In this case, those who failed to do so yesterday have been given another three months to do the KYC update. If the customer does not update the KYC in the bank account, it can be done till March 31, 2022.
It is mandatory for all bank account holders to complete the KYC update. Who are the money changers? This KYC update is for the bank to know the details of. The Reserve Bank has directed that KOC documents should be updated periodically as a precautionary measure and as a protection for customer money. Based on the transfer method and other characteristics, the KYC renewal period is divided into three types. 2 years and 8 years.
Therefore, the Reserve Bank had announced that customers' accounts in banks and financial institutions are likely to be frozen if the KYC is not updated. December 31 2021 was also announced as the last date to update this. Banks were alerting customers about this. But now the Reserve Bank has given customers another 3 months to do so. Due to this, the KYC option can be done before March 31.
KYC apte is very, very easy to do. This can be done by going straight to the bank that holds the account. Many banks also have the facility to update online. Some banks even offer the option of updating the QOC via video. You can contact the Banking Service Center number where you have an account for more details.
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