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    Warning! SBI freezes accounts for non compliance with KYC norms; Here is how to do it

    Do SBI KYC now to avoid your account from being banned. Know the documents required and other details here.

    Are you a State Bank of India (SBI) account holder? If yes, have you completed the Know Your Customer (KYC) norms? If not, you need to do it now. The bank has frozen several accounts of SBI customers for non-compliance with KYC norms, according to a report by livemint.com. A SBI bank holder informed about the same via a tweet. “My account money transfer is banned and it shows message “KYC non compliance” Atleast call or mail to complete the KYC, but here SBI directly stopped transaction…. I am NRI… please guide how to complete KYC…,” he tweeted tagging SBI.

    Replying to his tweet, SBI said that KYC is an ongoing exercise conducted at regular intervals and it seems that your account is due for KYC, hence the message has been forwarded to you. “We would like to inform you that KYC is an ongoing exercise conducted at regular intervals. It seems that your account is due for KYC, hence the message has been forwarded to you. Kindly visit the branch and get it done for the smooth functioning of the account,” SBI tweeted.

    Similarly , another Twitter account holder named Gaurav Agrawal, also informed that his bank account has been put on STOP because of KYC overdue. “@[email protected] my account has been put on STOP because of KYC overdue. No one asked me for KYC so why the hell my account put on STOP mode. Is everyone fool in SBI ?, ” the tweet read.

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    Replying to which SBI tweeted, “As per RBI Mandate, customers supposed get their KYC updated periodically. Hence, customers whose KYC updates are due are notified through many channels, one of them being SMS. Based on this notification one can either visit any of our Branches to update their KYC details or send a copy for their KYC Documents to their Branch email id through your registered mail id (if the KYC details are unchanged).”

    It can be known that, Know Your Customer ( KYC) is a process where banks obtain information about their customers’ identity.

    According to the information provided by SBI, here are the documents required for SBI KYC updation by individuals:

    Passport

    Voter’s Identity Card

    Driving Licence

    Aadhaar Letter/Card

    NREGA Card

    PAN Card

    Update SBI KYC details: Here is how

    Step 1:

    SBI customers need to submit a duly filled and signed prescribed format if there is no change in the KYC information provided earlier by them. It can be submitted to the branch in person, or through the registered email id or by post.

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