Bank of Baroda gave important information to lakhs of customers, do this work immediately
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Bank account holders alert! Know Your Customer ie KYC is a process through which banks or financial institutions verify the identity of their customers.
This potentially helps prevent any form of financial crime or money laundering. The Reserve Bank of India (RBI) has made it mandatory for all banks to complete KYC of each and every customer of theirs. Government sector Bank of Baroda has now given special information about this to its lakhs of customers.
The bank has given this information to the customers through tweet. The bank has told the customers that if there is any change in the documents with the help of which the customer had completed the KYC process at the time of opening the account, inform the bank about it. Such customers are required to inform the Bank within 30 days of updating the documents so that the Bank can incorporate the updated documents in its records.
What did the bank write in the tweet?
Bank of Baroda wrote in this tweet, ‘KYC documents submitted at the time of account opening as per RBI guidelines. If there is any change in them, then the information has to be given to the bank within 30 days of the updation so that the bank can keep its records. I can update it.
The bank also said that for more information about this, customers can contact the nearest branch of Bank of Baroda. Learn further how you can update your KYC documents if you are a customer of this bank.
Re-submission of KYC Documents Process
Bank of Baroda customers can choose any one of the two methods for Re-KYC. The first way is to visit the home branch and submit the Re-KYC document form and KYC document with your signature.
Further, the customer can submit KYC details through e-mail/post/courier along with self-declaration. This will be valid only on change of address in KYC document. In case there is no change in any document and the customer needs to re-KYC, the customer can e-mail the same along with a self-declaration to [email protected]. In this, it will be mandatory for them to send a scan copy of their KYC documents.
What are the documents required for KYC?
Passport, Driving License with photograph, Proof of having Aadhaar Number, Voter ID Card issued by Election Commission, Job Card issued by NREGA duly signed by a State Government official or Letter issued by National Census Register Bank for Customer’s personal account containing name and The address can be used as a KYC document.
No hassle of repeated KYC process through CKYC
Through KYC, the bank saves the data of its customers in digital format. Earlier, customers had to get KYC done multiple times for different purposes. But now this process is completed through Central KYC i.e. CKYC. With this, customers do not have to update KYC again and again for various operations like opening an account, taking insurance or opening a demat account.
(pc rights of employees)
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