SBI Customers Alert! Your SBI account may get blocked after 28th February; bank says do THIS
SBI Customers Alert! Do you hold a savings account with State Bank of India? Then this news is important to you. The State Bank of India (SBI), India's largest lender, has issued an urgent public notice to its account holders in regard to their incomplete KYC. Bank has asked all such SBI account holders to complete their KYC and avoid inconvenience in the future in their banking procedures.
In recent years, banks have been more vigilant in keeping records updated and they call for many rounds of KYC (Know Your Customer).
Additionally, SBI has also stated in the public notice that the customers who fail to complete one's KYC (Know Your Customer) or submit their documents before 28.02.2020 will have their bank accounts with SBI freezed.
The SBI is also sending text messages and e-mails to such SBI accountholders whose KYC is incomplete. Hence, if you are SBI account holder and have received such a mail or text message on your mobile phone, you are advised not to ignore this SBI communication as you have still around a week in your hand.
How to update SBI KYC?
Customers have to visit the SBI branch near them and provide a copy of any of the address and identity (ID) proof that is accepted for the KYC update. The SBI net banking users can do their KYC online also.
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
According to the guidelines issued by the RBI, thus the bank has to update their KYC after a certain amount of time and the notice is to tell the customers that their KYC is due.
According to the RBI norms, if the KYC is not updated, the offending banks may receive a huge penalty.
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.
