New Reforms: No need to visit bank to update KYC, Know more


New Delhi: Bank account holders are no longer required to visit their bank branches to update ‘know your customer’ (KYC) details provided they have already submitted valid documents and not changed their address, the RBI has said.

Instead, if there is no change in KYC information, they can submit a self-declaration through email-id, registered mobile number, ATMs, or any other digital channels.

Following up on Reserve Bank Governor Shaktikanta Das stating that banks should not insist on branch visits for KYC updation, the central bank on Thursday issued guidelines for the same.

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