According to the new guidelines of RBI, those bank account holders who have already submitted their valid documents and there is no change in their address, they will now have to do their Know Your Customer (KYC) i.e. “Know your customer”. There is no need to visit the bank branch to get the details updated.

What did RBI say according to the new rule, RBI says that if there is no change in KYC information, account holders can submit self-declaration letter through one of their email ID, registered mobile number, ATM or other digital medium.

RBI issued guidelines on Thursday Let us tell you that the Reserve Bank of India has issued these guidelines on Friday i.e. January 6. It said that if there is no change in the KYC information, then the customer’s self-declaration letter is enough to complete the KYC process again.

Appeal to the banks in its guidelines RBI asked the banks in their guidelines to allow their customers to self-declare through registered email ID, number, ATM, etc. so that they do not need to go to the bank branch.

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