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RBI confirms centralized KYC for all bank accounts coming soon

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RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice.

The Reserve Bank of India governor, Shaktikanta Das, and Executive Director, Saurabh Sinha assured that customers need not visit bank branches to complete their re-KYC. They also assured that a central KYC process will soon be launched that will let the customers do their KYC with the only bank and need not repeat the KYC process for different banks.

“Individuals can complete their re-KYC online as well. It is not necessary that customers need to visit the branch of the banks to do so,” said Das during the press conference after the monetary policy announcement.

RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice.



https://www.zeebiz.com/personal-finance/banking...



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// RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice. //

Idiotic bank people are still ignoring this as of now! People should be made more aware of this.
Mobile Guru Mobile Guru
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drupal wrote:

Some banks use account freezing trick as a business

True that. Some banks like SBI, ICICI didn't freeze accounts (like some neo banks did) but threatened/forced users (w/ pathetic excuses like higher number of transactions regardless of their value) to either convert savings account to current (higher MAB) or face consequences
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guest_999 wrote:
Tell this to certain bank branches officials who say they can't even open acc without aadhaar. smile

True.

Last week my friend went to open new account in BoB . They lady clearly shouted that we only open using Aadhar. I was listening all this [email protected] and simply said ma'am if you could provide in writing or show RBI circular for the same.

Later on she changed the topic and started saying other documents se fraudulent hona ka chance rehta hai and what not.

We were stuck to open account without Aadhar. Then she finally agreed and completed the process. For documents, my friend submitted Pan and driving licence. And things were sorted finally.

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Pro Community Angel Pro Community Angel
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// RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice. //

Idiotic bank people are still ignoring this as of now! People should be made more aware of this.
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deb3l wrote:
// RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice. //

Idiotic bank people are still ignoring this as of now! People should be made more aware of this.
Tell this to certain bank branches officials who say they can't even open acc without aadhaar. smile
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deb3l wrote:
// RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice. //

Idiotic bank people are still ignoring this as of now! People should be made more aware of this.

After you argue with those intelligent bank officials, the scene may turn somewhat similar..👇.! 

895768773gzuo

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Much needed clarification, the legality of account freezing by banks (without reasonable suspicion and orders from FIU/Investigation agency) should follow next without further delay

Benevolent Benevolent
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getready wrote:

Much needed clarification, the legality of account freezing by banks (without reasonable suspicion and orders from FIU/Investigation agency) should follow next without further delay

Some banks use account freezing trick as a business

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drupal wrote:

Some banks use account freezing trick as a business

True that. Some banks like SBI, ICICI didn't freeze accounts (like some neo banks did) but threatened/forced users (w/ pathetic excuses like higher number of transactions regardless of their value) to either convert savings account to current (higher MAB) or face consequences
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dosa wrote:

After you argue with those intelligent bank officials, the scene may turn somewhat similar..👇.! 

895768773gzuo

It's more like the fight against unnecessary oppression, that too for keeping your money in theirs pockets. People should fight it ALWAYS, no matter what [email protected] they accuse you of!

Legit kyc checks and updates are okay (in longgg periods) not the blind ones where they demand it for ALL no matter what kind of txn takes place in your account.
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guest_999 wrote:
Tell this to certain bank branches officials who say they can't even open acc without aadhaar. smile
Yes, I agree some are idiots to the core. No use engaging with them at all. I finsihed off relationships with them and their branches and got welcomed in others where they go by REAL rules/ norms and not these blind ones. Hope more people adopt these practices for all of their banking issues to go through the official order once before submitting the asked documents. They will definitely come back to their senses. Somewhat we people are to be blamed for this also.
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good move , similar step sud also for the credit card , with that indian CIBIL NESL coming into picture.. enough of of stupid internal policy as reason for rejection

Deal Subedar Deal Subedar
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After TRAI's Sim port looks like RBI also helping upcoming Reliance/Adani bank😂

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This was Amendment of MD KYC Norms few years back.
Many of you must have already received your unique 14 digit CKYC number.
Nothing new in the news. Improper Implementation is the issue stuck_out_tongue
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deb3l wrote:
It's more like the fight against unnecessary oppression, that too for keeping your money in theirs pockets. People should fight it ALWAYS, no matter what [email protected] they accuse you of!

Legit kyc checks and updates are okay (in longgg periods) not the blind ones where they demand it for ALL no matter what kind of txn takes place in your account.
had to face this reKYC for doing those 1 rupee send money transfer bank people said u are doing more transactions and that has triggered this Re KYC 
Generous Generous
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A welcome move!! Few months back STOP was placed on my account by Lunch Time Bank aka SBI because of KYC overdue.

Generous Generous
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deb3l wrote:
// RBI clarified that if the details of one's KYC remain the same as before, then just sending an e-mail to the banks or even informing the bank via text message from the registered mobile number should suffice. //

Idiotic bank people are still ignoring this as of now! People should be made more aware of this.

Oh crappy SBI did freeze my account.

Deal Subedar Deal Subedar
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guest_999 wrote:
Tell this to certain bank branches officials who say they can't even open acc without aadhaar. smile

True.

Last week my friend went to open new account in BoB . They lady clearly shouted that we only open using Aadhar. I was listening all this [email protected] and simply said ma'am if you could provide in writing or show RBI circular for the same.

Later on she changed the topic and started saying other documents se fraudulent hona ka chance rehta hai and what not.

We were stuck to open account without Aadhar. Then she finally agreed and completed the process. For documents, my friend submitted Pan and driving licence. And things were sorted finally.

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desiman wrote:
had to face this reKYC for doing those 1 rupee send money transfer bank people said u are doing more transactions and that has triggered this Re KYC 
You should have said them to write to Amazon for forcing* us to carry out such txns!

And besides, it's my money.. it should be none of their business how I'm gonna spend it, as long as am doing under their mentioned criteria/ conditions (they have many such already) and still crying for this as if I'll run away with my own money.. lol joy
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drupal wrote:

Some banks use account freezing trick as a business

ICICI tops the list 

Deal Cadet Deal Cadet
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demerius2020 wrote:

good move , similar step sud also for the credit card , with that indian CIBIL NESL coming into picture.. enough of of stupid internal policy as reason for rejection

By the way NESL doesn't provide any Score 

Talk-Of-The-Town Talk-Of-The-Town
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M.MAHI wrote:

True.

Last week my friend went to open new account in BoB . They lady clearly shouted that we only open using Aadhar. I was listening all this [email protected] and simply said ma'am if you could provide in writing or show RBI circular for the same.

Later on she changed the topic and started saying other documents se fraudulent hona ka chance rehta hai and what not.

We were stuck to open account without Aadhar. Then she finally agreed and completed the process. For documents, my friend submitted Pan and driving licence. And things were sorted finally.

This people are rascals . They purposely do this to give unnecessary tension to people and harass them. it is a feel good factor for them .
Generous Generous
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@Loaferg @M.MAHI That's why privatization of these banks is required to improve accountability and competence.Once I was facing an issue with auto debit transaction,SBI branch manager was clueless about NACH mandate.He was like "Wo kya hota hai beta? " What the hell is that ?  flushed smile   
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Gulag-Survivor wrote:
@Loaferg @M.MAHI That's why privatization of these banks is required to improve accountability and competence.Once I was facing an issue with auto debit transaction,SBI branch manager was clueless about NACH mandate.He was like "Wo kya hota hai beta? " What the hell is that ?  flushed smile   
Sorry to say brother  you are  wrong  of thinking them to be clueless  .  This  idiots know everything  in fact they  are regular in touch and get themselves  updated atleast whats in banking sector .
The thing is they don't  want to do it and work as per  ther wish . Feel Good Factor matter. Sir  sir   please  please  kindly please , they like to hear it again and again  . Param anand milta hain  unhe
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I have been using my CKYC no. generated by RBL bank for all credit card/bank account etc

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I really hope SBI starts doing this. Visiting the home branch for everything is just archaic. My YONO OTP is always sent to a number i had used 14 years ago when MNP was not dreamt by indians. Even though my KYC is complete and number updated since 2011, on which i get all txn OTPs I am not able to log in to YONO. I am told to go to home branch in a different state and do a re KYC. 

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Loaferg wrote:
This people are rascals . They purposely do this to give unnecessary tension to people and harass them. it is a feel good factor for them .
-they were recruited in the era of license raj, and now it is less but still there that natiionalised bank staff tend to boast of themselves as being "GOVT OFFICER" and hence the attitude ,shouting and all, they dont give 2 piece of sit if u take their product or unsatisfied with your services , they have their pension and salary coming from time to tim, with promotion , whiel the banks can go to he!!

-Private bank though display less of attitude but they compensate that with 420 tactics when it come to money , they often provide half truth to complettely wrong info just to meet their 'target' 

-the best bet wud be international bank /MNC, but with time they too get 'indian-ised', their policy is of international standard but the job of implementing is of local indian staff so u know what mess(Look at the case of amazon in the begining and now)
Deal Major Deal Major
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deb3l wrote:
You should have said them to write to Amazon for forcing* us to carry out such txns!

And besides, it's my money.. it should be none of their business how I'm gonna spend it, as long as am doing under their mentioned criteria/ conditions (they have many such already) and still crying for this as if I'll run away with my own money.. lol joy
i told them u are behaving as if i have robbed crores and run off from the country

those who actually ran off with crores are enjoying life and we are doing these rekyc for doing one rupee transaction 
Deal Newbie Deal Newbie
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anyone knows how can I get 14 digit cKYC no. generated from my SBI account ?

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