SBI bank account holders alert! Don't ignore this message, you may not be able to carry on your transactions

The SBI is sending messages to every customer to complete their KYC following a direction from the Reserve Bank of India (RBI).

Notably, the KYC comprises all information related to a customer. Image source: Reuters

SBI customers alert: Of late, if you have received any message from the State Bank of India, don't ignore it, otherwise, you won't be able to carry on transactions. The country's largest lender is sending messages these days asking its customers to update their KYC (Know Your Customer) as it has been mandatory for every bank account. The State Bank of India (SBI) is sending messages to every customer to complete their KYC following a direction from the Reserve Bank of India (RBI).

You just need to visit the nearby branch of the SBI to update your KYC to enjoy the transaction facilities smoothly. Notably, the KYC comprises all information related to a customer. This strengthens the relation between the bank and the customers. Without completing your KYC, you won't be able to open your account. The KYC is also sought when you want to invest in a mutual fund, seek a bank locker or want to withdraw your PF amount. The purpose behind the KYC is to ensure that nobody takes undue advantage of the banking services.

The following documents are needed by an individual to update his/her KYC:

TRENDING NOW

1. Passport
2. Voter's Identity Card
3. Driving Licence
4. Aadhaar Letter/Card
5. NREGA Card
6. PAN Card
7. NREGA Card
8. The certificate issued by UGC/AICTE having a photograph
9. Govt/Army Id card

Further, any one document towards proof of identity and proof of address-either permanent or current.

For Address proof

1. Telephone bill (Not older than 3 months)
2. Bank account detail (Not older than 3 months)
3. Certificate by government official
4. Electricity bill (Not older than 6 months)
5. Ration card
6. Income/Property tax valuation order
7. Credit card statement (Not older than 3 months)
8. Registered lease/license agreement/sale deed/lease agreement copies
9. Letter to students by University/hostel warden of that institution and it should be certified by registrar/dean
10. Student if living with their relatives then the latter's affidavit, his Id card and residential proof

For Minors

If minor is less than 10 years of age, ID proof of the person who will operate the account to be submitted.

In cases where minor can operate the account independently, KYC procedure for identification/address verification as in the case of any other individuals would apply.

TAGS:

State Bank of India KYC