New Delhi: The Reserve Bank of India (RBI) has said that many new customers may have to update their KYC with new documents. There are many cases where new documents are required, in which case the customer can either complete this work by visiting the bank or can also update KYC through Video-Based Customer Identification Process (V-CIP) sitting at home.
It is being said that banks have to update their records and if your current documents do not match the records they have, then you will have to update them. RBI has also made some changes in the rules to make this process easier. RBI has said that customers can update KYC again through a registered phone number, bank app, and online or internet banking.
Who will have to update KYC
If the documents with the bank no longer match the list of officially valid documents, fresh KYC will have to be done. Along with this, even if the validity of the documents submitted by the customer has expired, it will be mandatory to get KYC done. Even if the home address changes, customers will have to mention it in the KYC update. When customers submit self-declaration or KYC documents, banks will also have to give their acknowledgment.
This video is also eligible for KYC
RBI Governor Shaktikanta Das said that now proprietorship firms, authorized signatories, and owners of statutory units will also be able to take advantage of the video KYC facility. The Bank has also permitted a Video KYC facility for periodic updation of KYC. After this new rule of RBI, now no one will need to go to the bank for KYC. Your Aadhaar will also be authenticated through e-KYC only.
Aadhaar based e-KYC
Customers can complete their e-KYC by simply providing their Aadhaar details. Apart from this, banks can also ask for 2 passport-size photographs. The bank will not ask you for more information than this. All your information will reach them through Aadhaar and in this way your e-KYC will be completed sitting at home.
