29 COMMENTS

  1. Recently I received a letter to update my KYC from SBI. Currently I am residing in a different city. Can I send the KYC form and documents by courier or I need to visit the home branch itself?

    • You may visit a local Branch and sign the papers in the bank official presence. I don’t think there’s any requirement of visiting the Home Branch

    • It would be better that both the holders should be KYC compiled. Otherwise, it depends on the bankers that they may freeze/ close the account.

    • We are not completely sure, but there could be two ways- She could visit the local branch of the Bank. Most of the banks have their branches over there. Else, you may try and email the bank and ask for the solution. Banks may accept the proofs over e-mail too.

  2. Sir these are the stupidest rules being made by RBI and adopted by banks. A typical KYC is name, address, PAN card no, name of father and mother and birth date. NONE OF THIS USUALLY CHANGES EXCEPT ADDRESS POSSIBLY. RBI is harassing citizens by asking for this data again and again and people are exposing their private and personal data by adopting digital modes in a COUNTRY WHERE THERE IS NO LAW PROTECTING THEM ON DIGITAL PLATFORMS. Blocking DEBIT IS ALSO ILLEGAL. CONSIDER A CASE WHERE A PERSON IS POSTED OUT OF TOWN OR IS IN HOSPITAL AND DYING AND DOES NOT HAVE MANY MEMBERS WHO CAN GO AND WORSHIP THE BANK MANAGER IN AN EMERGENCY IF THE KYC HAS TIMED OUT AND BANK BLOCKS UR MONEY JUST WHEN U NEED IT THE MOST. BANKS MUST SHOW OLD KYC while verifying and older KYC which is still valid must not CAUSE ACCOUNT BLOCKING FOR GODS SAKE. ONLY STUPID RBI OFFICERS CAN MAKE SUCH RULES WITHOUT APPLICATION OF MIND. In such a case valid cheques bounce and customer is penalized for no fault of their own and banks do this just to earn money. INDIA NEEDS TO STOP POLICY MAKERS WHO MAKE SUCH POLICIES WITHOUT ANY APPLICATION OF MIND OR WITHOUT REAL WORLD EXPERIENCE IN UTTER ILLITERACY.

  3. India must refuse to give KYC a thousand times. What is the bank doing with the extra copies received. They will sell it to some newspaper wala and compromise ur privacy and security and u wont know a thing abt it. IS RBI , GOVT or BANK ASSURING U THAT ALL COPIES U SUBMIT OVER THE YEARS ARE RECORDED AND STORED BY THEM ? THEY WILL RUN OUT OF STORAGE SPACE IF THEY DO…SO GUESS WHAT IS HAPPENING ? SHOULD U GIVE KYC DOCS AGAIN AND AGAIN OR SHOULD COMMON SENSE PREVAIL ?

    BANKS MUST BE IN A POSN TO VERIFY UR SUBMITTED KYC AGAINST UR CARDS THAT IS ALL. U SHUD NOT NEED TO KEEP RESUBMITTING UR PERSONAL PVT DATA AGAIN AND AGAIN AND LEAST OF IT ONLINE TILL COUNTRY MAKES A LAW PROTECTING UR DIGITAL ASSETS AND MOBILE AND DIGITAL TRANSACTIONS AND IMPLEMENTS IT.

    COUNTRIES WHICH USE DIGITAL HAVE LAWS . INDIA IS THE ONLY COUNTRY WHICH DOES NOT. SO BE CAREFUL

    Feedback provided in public interest

  4. i don’t submit KYP but i wantto submit it but my question is if kyc is not submitted on bank then my every transation bank decdected some amount is it by rules or not

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