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No need to visit bank for KYC update, customer to complete KYC via video: RBI

NEW DELHI: Reserve Bank of India (RBI) said that the process of fresh KYC can now be done remotely through video-best customer identification process. The customer does not need to visit the bank branches. However, customers can also get KYC done offline by visiting the bank.

The central bank issued a release today saying that “if there is no change in the KYC of the customer, a self-declaration from his side should suffice to complete his re-KYC”. The bank also said that banks have been advised to provide non-face-to-face channel options to customers for such self-declaration.

RBI has informed that now account holders can update KYC through email ID, registered mobile number, ATM and other digital channels.

In its release, RBI said that individual customers of banks should be aware of the various options available with their bank for completing Re-KYC, such as submitting their details through non-face-to-face channels. Can or not. Or will they have to go to the bank regarding which details they have to update, or will their work be done through V-CIP as well.

According to the news agency PTI, RBI Governor Shashikant Das has said that the bank should no longer insist on coming to the bank for KYC update.

According to the new guidelines of RBI, “If there is no change in the KYC details, a self-declaration is sufficient for re-KYC. Banks have been advised to complete the process without any face-to-face contact.” Email ID, registered mobile number, digital channels (such as online banking, internet banking, mobile applications) letter etc. can be used for this so that there is no need to visit the bank.

A fresh KYC process will be required when the address given on the letter of the documents such as passport, driving license, Aadhaar number, voter card, NREGA card or National Population Register does not match with the documents available with the bank.

This will be needed even if the validity of the KYC document has expired.

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