This Is How You Can Update SBI KYC Easily

State Bank of India has issued an important public notice asking the customers to complete their KYC to avoid future inconveniences in the banking procedures. 

Additionally, SBI has also stated that the customers who don’t do KYC
(Know Your Customer) or submit their documents before 28.02.2020 will have their bank accounts with SBI freezed.

The bank has also sent a message alert to the customers whose KYC is due.

Why did SBI take such a drastic measure?

In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, as amended from time to time by the Government of India as notified by the Government of India, Regulated Entities (REs) are required to follow certain customer identification procedures while undertaking a transaction either by establishing an account-based relationship or otherwise and monitor their transactions, as stated on the Reserve Bank of India (RBI) website.  

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.

Fear Not! Doing KYC is not as difficult as it sounds.

RBI has revised its KYC guidelines and made National Population Register (NPR) letters a valid document.

Go to your nearest SBI branch if you have received SBI’s notice and provide a copy of any one of the following address proof and identity proof documents (either permanent or current) for the KYC procedure.

KYC for Individuals

Passport
Voter’s Identity Card
Driving Licence
Aadhar Card/Letter
NREGA card
PAN card
Letter of NPR
Recent photographs
Mobile Phones

13 Comments

  1. Is KYC update in Only having account SBI branch or any nearest SBI branch..?

    ReplyDelete
  2. But our staff asked to transfer the account to their branch instead of updating the KYC

    ReplyDelete
  3. and the home branch not transferred the account

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  4. DO I HAVE TO SUBMIT KYC FOR MY SBI CREDIT CARD ?

    ReplyDelete
  5. Now I am posted at Ranchi . I will send the document in post which was verified by bank. Kindly do the needful

    ReplyDelete
  6. I could not do my kyc. What to do if account is freezing

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  7. Why the bank is not providing facility to update kyc through netbanking?

    ReplyDelete
  8. Can I update my sbi acc. Any nearest sbi branch

    ReplyDelete
  9. How to apply online in kyc sbi

    ReplyDelete
  10. There was a call from the bank to go to the bank to update kyc, but now kyc will not be updated.

    ReplyDelete

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