RBI Issues New Guidelines for KYC Updation

Last updated: 13 June 2025

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This document from the Reserve Bank of India outlines revised instructions for the periodic updation of Know Your Customer (KYC) information. It addresses a large pendency in KYC updation, particularly for accounts related to government schemes and PMJDY. The guidelines aim to ease the process for customers by allowing Business Correspondents (BCs) to facilitate KYC updation and introducing simplified methods like Aadhaar OTP and Video-CIP. Banks are also advised to organise special campaigns, especially in rural and semi-urban areas, to expedite this process.

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KYC Updation Made Easier: RBI Allows Banks to Use Business Correspondents #pdf

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Submitted by Shree · Posted 13 June 2025 online