The State Bank of India (SBI) account holders can now update their Know Your Customer (KYC) documents online amid the COVID-19 pandemic. Due to the resurgence in COVID-19 cases, along with lockdown in many states, the bank had said in a tweet earlier that KYC will be updated on the basis of documents received from customers through post or registered email. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Similarly, customers are not required to make a personal visit to the branch for the KYC updation. KYC documents are mandatory for all account holders.

See Zee Business Live TV Streaming Below:

The country's public-sector bank tweeted, "In view of the resurgence of COVID-19 cases along with various lockdowns in place in many states, it has been decided that KYC updation shall be carried out on the basis of documents received from customers through post or registered email." It also said, "Customers will not be required to personally visit the branch for the purpose of KYC updation. Partial freezing of CIFs due for KYC updation will not be done till 31 May 2021." 

These are the documents that are accepted as proof of identity/address for updating KYC in SBI. Anyone document towards proof of identity and proof of address (permanent or current).

1) Passport 

2) Voter's Identity Card 

3) Driving License 

4) Aadhaar Card 

5) NREGA Card 

6) PAN Card 

Any one document towards proof of identity and proof of address (either permanent or current) 

For Minors’ Account 

If minor is less than 10 years of age, ID proof of the person who will operate the account to be submitted. 

In cases where minor can operate the account independently, KYC procedure for identification/address verification as in the case of any other individuals would apply. 

For NRIs Account 

Passport and Residence Visa Copies, attested by 

1) Foreign offices 

2) Notary Public 

3) Indian Embassy 

4) Officers of correspondent banks whose signatures are verifiable through an authorised (A/B category Forex handling branch) branch of the Bank 

For Small Accounts 

Small account means a savings account where the aggregate of all credits in a financial year does not exceed Rs 1 lakh; the aggregate of all withdrawals and transfers in a month does not exceed Rs 10,000; and the balance at any point of time does not exceed Rs 50,000.  

Submission of self-attested photograph and affixation of signature or thump impression before the officer of the Bank who is authorised to approve opening of accounts who will certify under his signature that the person opening the account has affixed his signature or thumb impression, as the case may be, in his presence.