Periodic KYC updation is important
When customers don’t have to do re-KYC
RBI has advised the banks to provide the facility of such self-declaration to individual customers through various non-face-to-face channels such as registered email, registered mobile number, ATMs, digital channels (such as online banking/internet banking, mobile application), letters, etc., without need for a visit to the bank brancIn case, there is no change in any KYC information, customers can do a re-KYC through self-declaration.
When do you need to submit fresh KYC?
Re-KYC: Know the conditions
1) Banks can ask customers to submit fresh KYC documents where documents available in bank records do not conform to the present list of officially valid documents such as passport, driving license, proof of possession of an Aadhaar number, Voter’s Identity Card, job card issued by NREGA and letter issued by the National Population Register.
2) If the validity of the KYC documents submitted earlier has expired, you have to submit fresh KYC details.