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STOP placed in sbi accounts

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Benevolent
kukdookoo
STOP placed in sbi accounts

sbi is sending many users messages like this here

Dear customer, STOP has been placed on your account xxxx for the reason kyc updation overdue. sbi

customer care says to go to home branch to update kyc which might not be possible for everyone. is there a rbi ruling that kyc documents are valid for xx years and after same period again kyc has to be done? @getready @bohemian

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Generous Generous
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yes periodic updation of kyc is required by bank. If there is no change in kyc just send aadhar signed photocopy to branch email Id and request them to update KYC.

https://sbi.co.in/web/home/locator/...ch

Mobile Guru Mobile Guru
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With a view to easing difficulties faced by common persons while opening bank accounts and during periodic updating, guidelines on ‘know your customer’ (KYC) will be further simplified with immediate effect so that banks:

  • do not insist on physical presence of the customer at the time of periodic updating; do not seek fresh proof of identity and address at the time of periodic updating in case of no change in status for 'low risk' customers; allow self-certification; accept a certified copy of the document by mail/post, etc; and
  • do not seek fresh documents if an existing KYC compliant customer of a bank desires to open another account in the bank.

Reserve Bank of India - Know Your Customer Norms

Benevolent Benevolent
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So self attested photocopy can be mailed to them? What is the validity of kyc norms? Accounts as old as 2 years to 10 years have been STOPPED
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Deal Cadet Deal Cadet
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get home branch email id and share kyc documents with them in the email 

Critic Critic
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Many psu bank branches don't have a publicly accessible email ID.
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Deal Cadet Deal Cadet
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Since the pandemic they are accepting kyc documents via an email to home branch. But my suggestion would be to visit branch in order to make sure it is updated.
Deal Subedar Deal Subedar
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Submit scanned copy of  self attested voter id and pan via branch email , they will update it 

Also rec the same sms , few months back 

Deal Cadet Deal Cadet
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How long did it take to get transactions rights back on?

My kyc has been successful as per sms but I still dont have transaction rights yet!

Generous Generous
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When you need money of dormant accounts and you create them if that many doesn't exist.

Cool Cool
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They did the same to my account last month. I had sent the self attested KYC docs via post. They updated KYC & reactivated it the same day on which they received my docs.
Deal Subedar Deal Subedar
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When you’re opening an account then everything is online and when you wanna update something then you have to go to the branch. Waah. Hdfc is doing that as well. They are asking for physical docs by post to their headquarters.

Critic Critic
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It has to do with rbi guidelines & risk profile of the acc as determined by bank system.
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