You must periodically update your KYC information if you have a bank account. To do this, one must visit a bank branch. Many times, persons in this scenario need help to update their KYC. You won't experience any issues upgrading KYC anymore. The Reserve Bank of India offered the people a present on New Year's Day.
Customers are relieved thanks to an update from the Reserve Bank of India (RBI) for Fresh KYC. Customers can complete the Video-Based Customer Identification (V-CIP) process at home to obtain a new KYC. All banks have received guidance for this from the RBI. According to the RBI, Re-KYC can only be completed through self-declaration if there has been no change in KYC.
The nation's banks have received instructions from the Central Bank (RBI) regarding this facility. According to advice from RBI, customers should have the opportunity to self-declare through non-face-to-face channels. According to the RBI, if clients have already turned in legitimate documentation and still need to change their address, they don't need to go to their bank office to update their Know Your Customer (KYC) information.
RBI was getting complaints.
Even after submitting the documents online, RBI received complaints from the banks that the digital re-KYC process needed to be completed through the banks' websites and mobile apps. According to RBI, users can finish the re-KYC process via their registered email address, mobile number, online banking or internet banking, ATM, mobile app, or letter. In this case, visiting a bank branch is not necessary. However, if just changing the address needs to be done, the bank must finish the verification process within two months and accept the address proof through these means.
KYC can be updated in this way.
According to the RBI, the customer can make video calls at banks that offer this facility. In addition, a new KYC procedure now allows customers to complete it via video call. For additional information on the options available for changing KYC details, RBI has advised customers to get in touch with their bank.
According to the RBI, a new KYC procedure should only be started if the documents in bank records do not match the current list of "officially valid documents." If the earlier-submitted document has expired, a new KYC is also needed.