New KYC Process Can Be Done Remotely Via Video: RBI
The RBI stated in a release that a self-declaration from the individual consumer is enough to finish the re-KYC procedure if there has been no change to the KYC
A new KYC procedure can be completed by visiting a bank branch or remotely via a video-based customer identification method, according to the Reserve Bank of India on Thursday. The RBI stated in a release that a self-declaration from the individual consumer is enough to finish the re-KYC procedure if there has been no change to the KYC.
Additionally, consumers can provide a revised or updated address through any of these channels if there is only a minor address change. The bank will then verify the amended address within two months. The central bank said that banks have been urged to give consumers the option of making such self-declarations through a variety of non-face-to-face channels.
Some consumers have also expressed dissatisfaction over the fact that digital re-KYC is not executed through bank websites and mobile applications, despite frequent online submissions of supporting documentation. According to the most recent notification from the RBI, individual bank customers are encouraged to learn more about the options their bank offers them for completing re-KYC, such as submitting a self-declaration.
Customers can complete re-KYC using registered email addresses, registered mobile numbers, ATMs, digital channels (such online banking/internet banking, mobile applications), letters, etc., according to the RBI, without having to go to a bank branch.