Business

If your account is closed due to KYC, follow the process.

Nowadays everyone has one or more bank accounts. In such a situation, it becomes very difficult to maintain all this. RBI also brings new updates for bank accounts from time to time. Recently RBI again issued an instruction. According to which, if you have a bank but you have not completed KYC then your account can be suspended. Due to KYC update, you may have to face problems ranging from account suspension to refund and transaction. In such a situation, let us tell you what you should do if your bank account gets suspended.
KYC is different
The KYC process is different for each category of customer. High risk customers are required to do KYC once every two years, medium risk customers once every 8 years and low risk customers once every 10 years.
What did RBI say
The Reserve Bank of India has updated the circular issued on May 29, 2019, to May 4, 2023, and said that if a customer fails to provide his PAN or Form 16, his account will be suspended. However, banks have to inform you through SMS and email before closing the account.
Reactivate bank account like this
If the KYC process is not completed then your account may be closed. However, you can make it reactive. According to RBI, the process of account reactivation is the same across all banks. Let us know how you can activate your account. If your account is closed then you can activate it in three ways. You will have to complete the KYC process in one of three ways.
According to Bank of Baroda, you can complete the process by visiting your bank account branch with the KYC documents and Re-KYC form.
Apart from this, this work can also be done through video call.
Additionally, you can complete the KYC process by filling the form at the bank with the address.

हिंदी की ताजा खबरें पढने के लिए यहाँ क्लिक करें|

Related Articles

Back to top button
हिंदी की ताजा खबर पढने के लिए यहाँ क्लिक करें|
Bhumi Pednekar’s desi avatar seen Rakul Preet Singh’s bold avatar set the internet on fire Latest Photoshoot of Rachel David Check out the latest photos of Shriya Saran for Hello Mag India awards Rakul Preet Singh Sizzles in Purple Saree Sizzling Photoshoot of Raai Laxmi Glamorous Stills of Huma Qureshi Nora Fatehi Flaunts her Sexy Figure in Transparent Gown Vacation Photos of Chetna Pande Enjoying in her own Style Latest Photoshoot of Samyuktha Menon in White Saree