Why Re-KYC is required?

Re-KYC is a process wherein banks and financial institutions can remain abreast with a customer's latest personal details and contact information. This ensures that the information a client provides at the time of account opening or opting for a service is not outdated.

Reserve Bank of India guidelines dictate that re-KYC should be conducted regularly. Banks are advised to conduct re-KYC based on a risk based approach.

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