How To Update SBI eKYC Online?
All banks have made it mandatory to update KYC documents regularly. Read how to update your SBI KYC online.
State Bank of India has frozen several customers' bank accounts due to non-compliance with know-your-customer (KYC) standards. SBI customers have raised this issue on Twitter while tagging the official SBI Twitter handle. But why is this happening?
On December 30, 2021, the Reserve Bank of India issued a formal notification where it asked customers to get their KYC information updated by March 31, 2022, at the latest (extended deadline). Similarly, as per reports, in the month of July, the SBI suspended the accounts of its many customers. To the tweets that complained about this same issue, SBI responded, ‘Customers are required to update their KYC on a regular basis in accordance with the RBI mandate. As a result, consumers whose KYC updates are overdue receive notifications via several means, including SMS. According to this announcement, customers can either visit any of our branches to update their KYC information or send a copy of their KYC documents by registered mail to the branch's email address (if the KYC details are unchanged).’
Now, if you’re also struggling with the same issue and want to update your SBI KYC, then we have a complete guide on how to do it online. Read on!
What Is KYC?
Let’s just first begin with what KYC is and why it is important to get it done.
KYC or Know Your Customers is an important procedure that helps banks or similar authorities identify their customers. The major objective of the KYC guidelines is to help banks prevent from being used, by criminal elements for money laundering activities.
How To Update SBI KYC Online?
In order to update the SBI KYC online, you need to have the following documents with you:
. Identity Proof or Address Proof
. Voter’s Identity Card
. Driving License
. Aadhar Letter/Card
. NREGA Card
. PAN Card
If it is a minor account, and the child is under 10 years of age, identifying paperwork for the person administering the account must be submitted. Moreover, when a minor manages their account independently, the same KYC procedure would be utilised for identifying and validating the person's address.
For NRI accounts, the account holder requires passport and residence visa copies, duly attested by foreign offices, notary public, the Indian embassy, and officers of correspondent banks whose signatures are verifiable through an authorised branch of the bank.
How To Update eKYC in SBI?
Customers are required to update their KYC information by emailing a copy of their address proof and identity proof to their bank branch’s official email ID. While doing the same, you need to use your registered email ID.
In an official tweet, SBI mentioned, ‘You may scan and email your KYC documents on the branch email address only if KYC update is due in your account and the branch has notified you for the same. Please note to send the email from the email ID you have registered with your bank account’.
In conclusion, to keep your SBI account running, follow the above-mentioned online process and get your account clear of the KYC guidelines.