SBI account: You have time till February 28 and if you don't do this, your account in State Bank of India will get non-operational. For any bank, maintaining a record of information about its customers is of great importance. It helps the bank better serve its customers and also prevent frauds and other financial irregularities. In recent years, banks have been more vigilant in keeping records updated and they call for many rounds of KYC (Know Your Customer). Account-holders are expected to make updates, if required, in their personal details with the bank. If this is not done, banks may be compelled to deactivate the account, much to the loss of the account holder.
What documents do we need for KYC? Read this carefully
According to SBI website, You need to submit a valid government id card.
SBI is accepting these to be valid id proofs:
- Voter ID
- Passport
- Driving license
- MNREGA CARD
- Identity Card issued by India Post
- Telephone
- Pension pay order
- Electricity Bill
- Bank Passbook with photo
- Ration Card
- Sale deed/ Lease agreement
- Aadhaar Card
- PAN Card
Change in rules by the RBI:
Reserve Bank of India has now allowed banks to carry out KYC via a video-based process. This process is PAN or Aadhaar card linked process. Bank officials will finalise the KYC based on questions pertaining to Aadhaar or PAN card.
For complete information, visit State Bank of India and Reserve Bank of India's official websites.
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