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Bank Account Reactive: According to the guidelines of Reserve Bank of India, if a person does not update his KYC within the stipulated time limit, then his account can be suspended.
If the KYC of your account is not updated then you cannot do transactions with your bank and you cannot also get refund in this bank account. Actually, the KYC process is done differently for each category of customer. For example, for high risk customers it is mandatory to do KYC once in 10 years for 2 years and for medium risk customers it is mandatory to do the same for 20 years customers.
According to Geeta the Reserve Bank said
The circular issued by the Reserve Bank of India on June 4, 2023, updated for June 29, 2019, states that, if a customer does not submit his PAN or form, his account will be suspended. However, before closing the account, banks will have to give this information through SMS and also through email.
Make your account reactive like this
If your account has been suspended then you can activate your account in these three ways.
To activate the account, first you have to complete the KYC process.
You have to complete the entire process by visiting the bank account branch along with the free KYC form along with KYC documents.
Apart from this, you can also complete your KYC through video call.
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