From KYC, re-KYC to OTP safety, PM Modi outlines digital banking dos and don’ts

PM Modi cautioned against fraud calls and fake links use only official bank channels, never share OTPs or personal details, and update passwords regularly

• PM Modi urges citizens to complete KYC for account security
• Warns against cyber fraud, advises using only official channels
• Stresses not to share OTPs or sensitive info with anyone

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Prime Minister Narendra Modi on February 22 used his Mann Ki Baat to address the nation to stress the importance of completing Know Your Customer (KYC) formalities, saying, “You all must be aware of the process of KYC, i.e. Know Your Customer,” as he explained why banks repeatedly ask customers to update their details to protect their money and personal information.

Stay Alert And Secure Banking! While addressing the Nation through #MannKiBaat, PM @narendramodi urged citizens to promptly update their banking details to keep accounts safe. He cautioned against fraud calls and fake links use only official bank channels, never share OTPs or… pic.twitter.com/zZ7jxJCNBC

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— MyGovIndia (@mygovindia) February 22, 2026

KYC is a required verification process that financial institutions, such as banks and NBFCs, use to verify a customer's identity, address, and legitimacy during onboarding. It plays a vital role in preventing financial crimes such as money laundering, fraud, and terrorism financing. Typical KYC documents include Aadhaar, PAN, passports, and utility bills.

Highlighting the growing link between bank accounts and welfare services, PM Modi said, “We all know that nowadays, pension, subsidy, insurance, UPI, everything is linked to the bank account,” adding that timely KYC ensures accounts remain secure and functional as more financial services move to digital platforms.

He urged citizens to promptly update their banking details to keep accounts safe.

The Prime Minister also warned people against rising cyber fraud, noting, “Scammers make fraudulent calls, send SMS, links, etc. Therefore, we need to be aware of them and should not get trapped by such cheaters,” as he called for greater public awareness about online financial threats.

He advised citizens to rely only on official channels for updating their details, saying, “Do your KYC or reKYC and update it from your bank or through the official app and authorised medium,” underlining that following the correct process is key to avoiding fraud.

Modi cautioned people against sharing sensitive information, stating, “Do not share OTPs, Aadhaar numbers, or bank account details with anyone, and most importantly, change your password regularly,” while urging listeners to adopt basic digital safety practices in their daily transactions.

Linking financial discipline to the larger national goal, the Prime Minister said, “Keep in mind that completing KYC on time keeps your account secure and helps build a self-reliant India,” framing secure banking habits as a step towards strengthening the country’s digital economy.

Secure citizens build a stronger India, he concluded.