State Bank of India is Asking its Customers to Complete KYC
The State Bank of India (SBI) is sending SMS to its customers for the last one month. The bank is asking its customers to complete KYC.
State Bank of India (SBI), the country’s largest government bank, is constantly sending its subscribers. The bank is urging customers to complete the KYC (Know Your Customer). If a customer does not, they will not be able to transact from their account. Let us know that RBI (Reserve Bank of India) has made KYC necessary for all bank accounts.
The bank is sending its customers to this SMS- According to RBI guidelines, KYC documents in your account need to be updated. Please contact your SBI branch with latest KYC documents and contact. In the event of failure of KYC, future transactions in your account can be banned.
If you define KYC ie simple Hindi, then you will say that the complete information about the customer Making KYC is essential for all. In a way, KYC strengthens the relationship between the bank and the customer. Without KYC investment, it is not possible to open a bank account without it.
In case of opening a bank account, investing in mutual funds, taking bank lockers, or removing PF amount of old company, then such financial transaction is asked about KYC. Through KYC it is ensured that no banking is misusing the services.