According to RBI’s Master Direction on Know Your Customer, periodic KYC updates are mandatory. If your address, name, or personal documents have changed, you must update your KYC details with your bank without delay.
Why Update KYC?
Regulatory Compliance: RBI requires banks to keep customer information current for regulatory purposes.
Access to Banking Services: Updated KYC ensures uninterrupted access to all banking services.
Prevention of Account Freezing: Banks may freeze accounts with outdated KYC information.
Documents Required for KYC Update:
- Proof of Address (Utility bill, Aadhaar, etc.)
- Proof of Identity (Updated ID, Passport)
- Recent photograph (if address changed)
How to Update KYC Online:
- Visit your bank’s mobile app or website
- Click on “Update KYC” or “My Profile”
- Upload recent documents
- Verify via OTP or biometric
- Submit and wait for confirmation
You can also visit your bank branch to update KYC in person. For official RBI guidelines, refer to their Master Direction on Know Your Customer Compliance.