RBI Draft: Easier KYC Updates & Account Access

  Published 1 year ago

The RBI has proposed revisions to KYC norms, mandating banks to offer updation at all branches and via video KYC. This aims to simplify reactivating dormant accounts and claiming unclaimed deposits, seeking public feedback until June 6, 2025.

  • KYC updation at all bank branches is required.
  • Video KYC is offered as an alternative option.
  • Focus on reactivating inactive accounts.

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