Punjab National Bank has tweeted that, as per RBI guidelines, all customers should contact the home branch to update their KYC before 31.08.2022. Non-updation may result in ban on your account transactions.
New Delhi. Public sector Punjab National Bank is appealing to its customers to update KYC. The bank has said in a tweet that all customers should get KYC done by 31 August 2022. For the last several months, the bank has been alerting its customers to get KYC (know your customer) done. By doing KYC, the bank account of the customers will be active and they will be able to do many things like fund transfer easily.
Tweet information
Punjab National Bank tweeted from its Twitter handle and said, “As per RBI guidelines, KYC updation is mandatory for all customers. In case your account remains pending for KYC updation by 31.03.2022, you are requested to contact your parent branch for updating your KYC before 31.08.2022. Non-updation may result in ban on your account transactions.
What is KYC?
The full form of KYC is Know Your Customer. KYC is a document giving information about a customer. On this, customers write all the necessary information about themselves. In the field of banking, every 6 months or 1 year, the bank asks its customers to fill the KYC form. In this KYC form, you have to fill your name, bank account number, PAN card number, Aadhar card number, mobile number and complete address. In this way the bank gets all the information of the customer.
How to do KYC?
KYC is very easy to do. First of all, you go to the branch of the bank in which you have your bank account. Go there and take the KYC form from the concerned desk and submit it after filling that form and attaching all the necessary documents in it. Your KYC gets updated within 3 days of submission of KYC form.
Why is KYC important?
KYC is extremely important for both the customer and the financial institution. While the banking institution gets all the updated information of the customer through KYC, the customer gets the security that no other person can transact money from his account. Because whenever banking happens, its information will be received immediately by the customer through online/message.
How to settle this work sitting at home
You can complete your KYC from home without going to the bank. For this, you can e-mail your document bank. Apart from this, KYC can also be completed by asking for OTP on mobile through Aadhaar. Many banks also provide KYC facility through net banking. If your bank is also providing this facility and you do net banking, then you can easily complete KYC sitting at home.
