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Fresh KYC process can be done through video
January 06, 2023
“Fresh KYC process can be done by visiting a bank branch, or remotely through a Video based Customer Identification Process (V-CIP) (wherever the same has been enabled by the banks), as provided in Section 18 of the Master Direction on KYC,” the RBI said in a statement.
In addition the RBI has advised banks to provide non-face-to-face channels to self-declare a KYC in case there is no change in the information.
“If there is no change in KYC information, a self-declaration to that effect from the individual customer is sufficient to complete the re-KYC process,” read the statement.
In the fresh guidelines, the regulator said customers can use registered email IDs, registered mobile numbers, ATMs, digital channels (such as online banking/internet banking, mobile application), letters, etc. to do re-KYC, without visiting a branch.
In addition, if customers only need to update their address, they can furnish a revised/updated address through digital channels after which the bank will undertake verification within two months.
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