If you have an account with any branch of State Bank of India and you have not yet completed your KYC, then get it done soon. You have only a few days left or your account may be closed. SBI has fixed the last date (28 February 2020) to complete the KYC.
State Bank of India has sent an SMS to its customers asking them to complete their KYC by 28 February 2020, otherwise you will not be able to do any transaction with your account. Explain that Reserve Bank of India has made KYC mandatory for all bank accounts. The bank has said that please contact your SBI branch with the latest KYC documents. Failure to complete KYC can result in your account being frozen. Documents required for KYC: According to the SBI website, the customer has to provide his / her identity card for KYC.
Any of these can be an identity card …
Voter ID
Passport
Aadhaar Card /
Driving License
Card NREGA Card
Pension Payment Order
Identity Card issued by Post Offices Identity Card issued by
such public authority institutions which keep a record of identity card issued by them.
In case of students, if they are staying with their relative, then their identity card and address certificate along with the declaration of that relative.
Certificate of address
Telephone bill (not more than 3 months old)
Electricity bill (not more than 6 months old)
Letter
bank account statement issued by a recognized government authority (not more than 3 months old)
Ration card, Identity card issued by trusted employers, Income tax / Estate tax assessment order
Credit card statement (not more than 3 months old)
Registered leave & license agreement / Cell deed / Copies of the lease agreement
issued to the student by the hostel warden of the university / institution, signed by the Registrar, Principal / Dean – Student Welfare
What is KYC?
KYC means “Know Your Customer”. KYC is an identification process conducted by the Reserve Bank of India, with the help of which banks and other financial institutions get to know their customers better. Banks and financial companies fill the form for this and also take some proof of identity with it.
KYC can be done sitting at home,
if you do not want to go to the branch, then the Reserve Bank of India (RBI) has provided the facility of KYC for you at home. The Aadhaar-based Video Customer Identification Process (V-CIP) has been approved as per the recent changes made in the KYC rules by the RBI. Now banks, NBFCs and other lending institutions will be able to use the video based identification process for KYC.
This is how video will be KYC
Under this new system, officials of financial institutions present in remote areas will be able to identify the customer through PAN or Aadhaar card and some questions. The option of video call will be available only on the domain of the concerned bank or institution.