SBI Customers Alert! Your Account Will be Blocked after 28th February If You Don’t Do This

The State Bank of India (SBI), the largest bank of the country has issued an important notice for its customers that include farming community as well. It has asked the SBI account holders to complete their KYC (Know Your Customers) and avoid future inconveniences in the banking processes. State Bank of India has also maintained in this public notice that if a SBI customer does not complete his or her KYC by the end of this month i.e. 28th February 2020, it will have no choice but to block those SBI accounts.

For this the bank has also sent messages to the SBI account holders whose KYC is not complete.

It is important to mention that as per the provisions of Prevention of Money-Laundering Act 2002 & the Prevention of Money-Laundering (Maintenance of Records) Rules 2005, which has been amended time to time by the Government, all the banks are required to follow certain customer identification process while doing a transaction by either establishing an account-based relationship or monitor their transactions, according to the Reserve Bank of India (RBI) website.

The RBI guideline also says that all banks in India need to update their KYC by 28^th of February 2020 and send a notice to the customers telling that their KYC is due. And if they fail to do so then banks will have to face big penalties.

How to update State Bank of India KYC?

Here is how the State Bank of India customers can complete or update their KYC;

Offline Method

SBI customers who have received a message from the bank to update their KYC will have to visit the nearest SBI branch and submit a copy of any of the address & identity (ID) proof that is required for the KYC update. Below we have given list of documents which can be used for SBI KYC updates:

• Aadhaar Card

• Voter ID

• Passport

• Driving License

• PAN Card

• MNREGA Card

• NPR (National Population Register) letter

• Recent passport size photo

• Mobile number

Online Method

SBI customers who use internet banking can complete or update their KYC online. All they need to do is go to State Bank of India’s official website. Look for personal banking section at the homepage and update your KYC quickly.

Here’s direct link;

https://sbi.co.in