By Admin 
Reserve Bank of India: Reserve Bank of India (RBI) has proposed to change the rules of ‘Know its customer (KYC)’ on Friday & nbsp; Its purpose is to stop money laundering. This will make it easier for millions of bank customers and beneficiaries of government schemes to update KYC. The Reserve Bank has made the process of updating KYC updates from time to time in its draft Sakurlar, so that the challenges faced in updating KYC from time to time can be resolved. & Nbsp;
Many cases of KYC update pending
In its draft Sakurlar released on Friday, the Central Bank said that many cases of updating KYC from time to time have been seen pending. These include accounts opened for Direct Benefit Transfer (DBT), Electronic Benefit Transfer (EBT). Customers are also having trouble in accounts opened under Pradhan Mantri Jan Dhan Yojana. & nbsp; KYC is having trouble getting updates. The Reserve Bank is receiving complaints about the challenges faced by customers in updating KYC from time to time. & Nbsp;
Now this mandatory for banks
The Reserve Bank has directed all bank customers to update KYC from time to time. Now it has become mandatory for banks to give advance information to its customers at least three times about KYC updates from time to time. All partners on this proposal of the central bank can give their suggestions by June 6. & nbsp;
RBI says that banks should provide the facility to compulsorily update KYC in all their branches or for KYC for without claim money. Apart from this, if the bank has the facility of video conjumer identification process (V-CIP), then provide this facility to them at the behest of the account holder. The Reserve Bank has also said that the help of an authorized business correspondent to activate inactive bank accounts can also be taken.
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