RBI gave big relief to the people who are unable to pay the loan, and get your KYC updated by this date!

New Delhi:- RBI Governor Shaktikanta Das has given a booster dose to fight Covid on Wednesday. He not only talked about giving funds for arranging the medicine and vaccine for Covid, but also gave the life of Restructuring 2.0 to the people who are unable to pay the loan, that is, they will now get a chance to restructure the loan again. Not only this, RBI has also made special arrangements for the customers who have missed KYC.

In this, the RBI Governor said that it is necessary for the bank or other account holders to get KYC done, but it will be relaxed a bit in view of Covid. They will get enough time for KYC updation. He also said that the Reserve Bank will promote video Kyc, so that customers can update their details sitting at home.

Here are three ways to do KYC, do KYC like this

RBI Governor Shaktikanta Das said that the KYC process is divided into 3 methods. He said that RBI has brought many more measures to increase customer convenience. These include KYC.

The first process: –  Video based KYC, in this he told that the video based customer identification process has been developed so that customers can easily update their KYC. This is the first process. In this, Proprietor Firms, Authorized Signatures and other customers will get a chance to update their KYC.

Second process:- RBI Governor said that the accounts which were opened on aadhaar e Kyc authentication will now be converted into full Kyc compliance.

Third process:- RBI Governor said that a centralized KYC registry like DIGI Locker will be identified so that the customer can submit his documents electronically. The modes of updating KYC digitally will be increased.

Get KYC updated by 31st December

RBI Governor said that financial institutions who have not been able to update their customer’s KYC, they will give them exemption till 31 December 2021.

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