Re-KYC is a process with which, banks and financial institutions can remain updated with a customer’s latest personal details and contact information, ensuring that the information a client provides at the time of account opening or opting for a service is not outdated, according to the HDFC Bank website, as reported by the Economic Times.

Financial institutions are mandated to adopt KYC so that they are not misused for illicit activities such as money laundering and terror financing.

Most financial actions need the submission of KYC data. KYC, or “Know your customer” is a handy tool that helps an organisation confirm a customer’s identity.

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Many banks have online facilities for customers to update their KYC details. Here is how you can update your KYC details online for these top banks, according to the article.

Also Read | Why the Indian consumer is wary of eKYC

SBI

Step 1: Login to SBI online banking.

Step 2: Under the My Accounts & Profile section, click on Update KYC.

Step 3: Select your SBI account and click Next.

Step 4: Upload your supporting documents on the next page.

HDFC

Step 1: You will receive a notification from the bank to update your KYC information. Once you do, fill out the re-KYC form.

Step 2: Next, you need to self-attest documents that function as identity and residence proof.

Step 3: Once you complete your bit of the KYC procedure, it takes around ten days for the process to be completed in its entirety.

Also Read | KYC is a public good that is crying for an overhaul

ICICI

Step 1: Log in to the ICICI Bank net banking portal.

Step 2: If your KYC update is still pending, a message will show on your screen. Tick the authorization box and select the ‘Update Through Document Upload’ option from the notice.

Step 3: Edit any details to be updated and upload the PAN card.

Step 4: Check the ‘I want to update my address’ box and enter your new address. Next, upload the address proof document (even if the address has not been updated) and photograph, check the authorization box, and click ‘Continue’.

Step 5: Select the authorisation and click ‘Confirm’.

Step 6: Tick the KYC declaration and click ‘Confirm’.

Step 7: Click ‘Continue’ to complete the procedure.

Canara Bank

Step 1: Login using credentials.

Step 2: Click on other services and click on Re-KYC.

Step 3: Upload the required documents.

Yes Bank

Step 1: Login to the Yes service portal.

Step 2: There will be a Re-kYC pop- up or Select RE-KYC Service Request.

Step 3: Choose the appropriate option.

Step 4: Complete through Aadhaar E-KYC authentication and Submit.

Also Read | SEBI relaxes KYC norms to simplify risk management framework. Check details

Acceptable ID proof documents

  • Valid passport
  • PAN Card
  • E-Aadhaar letter as issued by the Government of India
  • Driving License
  • Voter ID
  • Job Card as issued by NREGA and duly signed by an authorised official
  • Letter issued by a Gazette officer, with a duly attested photograph. However, this is acceptable only for opening low-risk Basic Savings Bank Deposit Account (BSBDA)

Address proof documents

  • Valid passport
  • PAN Card
  • E-Aadhaar letter as issued by the Government of India
  • Driving License
  • Voter ID
  • Job Card as issued by NREGA and duly signed by an authorised official
  • Letter issued by a Gazette officer, with a duly attested photograph. However, this is acceptable only for opening low-risk Basic Savings Bank Deposit Account (BSBDA)
  • Identity Card as issued by Central/State Government, Public sector undertaking, any Scheduled Commercial Bank, or any Public Financial Institution.

Also Read | 6 booked for taking loans of 26.68L using forged documents


Disclaimer: This report is auto-generated from other news portal services. Realtimeindia holds no responsibility for its content.