There is very important news for State Bank of India customers. The bank said it was mandatory for account holders to do KYIC. If they do not do this, there may be problems with financial transactions in the next few days. In such a situation, if you do not want to go to the bank for fear of corona, you can even sit at home with your KYC.
Suraj, a resident of Bihar, tagged SBI on Twitter and asked to help his father’s KYC update, he did not want to go to the bank. In response to this tweet, the bank said that by signing up with a registered email, the scanned application and KYC records could be emailed to the bank’s branch. But if you want to change your number or address, you should go to the nearest branch for this.
HDFC Bank warns customers that these services will remain closed for 18 hours
We understand your concerns. However, periodic renewal of KYC is a regulatory requirement. You can send through your regd. Email, properly signed, scanned copy of your application and KYC documents to the Home Branch. If any amendment is required ie change of address or (1/2)
– State Bank of India (@TOOfficialSBI) August 21, 2021
Banks usually ask low-risk customers to renew KYC every ten years. At the same time, consumers with moderate risk should renew KYC every eight years. High-risk customers should renew KYC every two years. This class is determined based on value and turnover.
Documents required for KYC
If the account holder is a minor and the age is less than 10 years, the ID proof of the account administrator is applicable. If a minor manages his account, the identification or home address verification process is similar to any other common case.
If you are an NRI and have an SBI account, you can provide a copy of your passport or residency visa. Residence visa must be verified by a foreign officer, notary, Indian embassy, concerned bank officer.
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