State Bank of India -SBI has given its customers the facility to submit a variety of documents for Know Your Customer (KYC). So that the KYC process can be completed. Know Your Custer (KYC) is a process where banks obtain information about the identity of their customers. So that the bank’s service is not misused. KYC process is used when you open an account with a bank. The bank needs to update KYC details of its customers from time to time. Banks need to submit and verify basic details of customers to complete KYC process.
How to update KYC
Customers of the bank will have to visit the nearest branch of State Bank of India for KYC updates. Necessary documents have to be submitted. Customers have to provide their identity (ID) proof and address proof.
The country’s largest bank SBI has prepared a list of documents for individual, minor, NRI and small account holders. If you have a personal account, you can use any passport, voter ID, driving license, PAN card, Aadhaar card.
Minor
If the account holder is a minor and is less than 10 years of age, then their ID will be proof, who are operating the account. If the minor is operating the account himself, in that case the process of verification of the person’s identity or home address will be similar to the other common case.
For NRI
If you are an NRI and have an account with the State Bank of India, you can give your passport or residence visa copies. Residency visa should be validated by foreign officers, notaries, Indian Embassy, officers of the concerned bank.
According to RBI regulations, banks will have to update their KYC after a certain time. Customers whose KYC is not updated. The bank has to give notice that its KYC is not updated.
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