Periodic Updation of KYC (ReKYC)
As per RBI guidelines on KYC norms, Banks need to periodically update KYC documents in the records of their account holders.
Therefore, in addition to the KYC carried out at the time of account opening, the account holders are required to undergo Re-KYC and submit the requisite documents at periodic interval, to avoid any restriction being placed in the account as per guidelines.
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