A recent notification issued by the State Bank of India (SBI) stating that it says those bank accounts will be frozen on not taking up necessary action in relation to updating your account’s Know Your Customer (KYC) details at the earliest before May 31. State Bank of India (SBI) has directed SBI bank account holders to update their KYC details before May 31 as bank accounts will be frozen and banking services will not be provided to such bank account holders who have not updated their State Bank of India (SBI) bank accounts with KYC details.
This particular latest update regarding the State Bank of India is for crores of customers having a bank account with SBI. People whose accounts are already updated with the Know Your Customer (KYC) details are well and good. But those people whose accounts are not yet updated will have to do the needful at the earliest possible to avoid any kind of last-minute confusion at the banks or crowd at the bank branches etc.
How to save themselves from the action of the bank?
To update the same, customers have to take their Know Your Customer (KYC) document (it can be any of the major documents issued by the government authorities as a proof of identity like it can be Passport, Voter’s Identity Card, Driving License, Aadhaar card, NREGA card or PAN card) and go to the home branch or the nearest bank branch office. Non-resident Indians (NRIs) can submit passport or residence visa copies to complete KYC norms.
What is the last date to submit the document?
However, the SBI has extended the last date till May 31 as per the recent notification. Only those people need to update their bank’s Know Your Customer (KYC) details whose update is either pending or have been notified by the bank to get the same done. Due to the Corona crisis and the ongoing pandemic situation, some people may not wish to go to the nearest home branch or other branches to get the KYC details updated and for some, it is not possible to visit too. So such people can update their account’s Know Your Customer (KYC) details online also.
How to update the Know Your Customer (KYC) details?
Here is how you can update your Know Your Customer (KYC) details online just sitting at home: State Bank of India (SBI) account holders can send their documents to the branch’s email address using your registered email address. The procedure is that you have to scan and email your Know Your Customer (KYC) documents to the branch email address only if it’s either pending or you have been notified by the bank authorities.
One main important point to keep in mind is that when you are sending your Know Your Customer (KYC) documents, make sure you send them through your registered email address with the State Bank of India (SBI) to avoid confusion to the bank authorities and also make sure all the documents are properly and neatly scanned and also do not forget to mention your name, bank account number and other crucial information clearly.
You are required to submit any of the mentioned documents: Passport, Voter’s Identity Card, Driving License, Aadhaar card, NREGA card, or PAN card.
What should minors do? Do they have any options?
In case of account holders being below 10 years of age, the ID proof of the person who is and will be operating the account to be sent to the bank. In case of minors operating their account themselves can send any of the mentioned documents for Know Your Customer (KYC) document verification.
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