In a major relief to the State Bank of India customers during the pandemic, the bank has asked them to update Know Your Customer (KYC) details until May 31 from the comfort and safety of their homes through mail or postal service to avoid partial freezing of the account.
The decision has been taken amid the lockdown-type measures implemented by several states to contain the spread of Covid-19 infections. Also Read: Government Names T Rabi Sankar As Next Deputy Governor Of RBI
In a communication to the chief general manager of all its 17 local head offices dated April 30, the SBI said it has been advised to accept KYC updated requests through mail or post without the physical presence of the customer in the branch due to a surge in infections.
In view of Covid-19 restrictions or lockdown in several states, branches can carry KYC update on the basis of documents received from customers through the post. Other banks are also expected to follow suit.
In its official Twitter post, the bank said,"Important announcement for our customers in view of the lockdowns in place in various states."
It added, "In view of difficulties faced by customers due to local lockdown induced by the second wave of COVID-19, State Bank of India (SBI) has decided to permit acceptance of documents for KYC update through mail or post. Customers will not be required to visit the branch for the purpose of KYC update. Please ensure that partial freezing of CIFs due to KYC update is not done up to May 31, 2021," SBI tweeted.
In no case the customer should be asked to personally visit the branch for KYC update, it said. "Please ensure that partial freezing of CIFs due to KYC update is not done up to May 31, 2021," the bank noted.
Here are documents acceptable for KYC update
Individuals documents as proof of identity/address include Passport, Voter's Identity Card, Driving Licence, Aadhaar Letter/Card, NREGA Card, PAN Card