Here’s how to update KYC for PM Jan Dhan accounts completing 10 years

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The Pradhan Mantri Jan Dhan Yojana (PMJDY) has been a revolutionary financial inclusion initiative by the Indian government, helping millions of citizens open bank accounts with ease and gain access to banking services. As PMJDY accounts complete their 10-year milestone, the government has mandated a fresh Know Your Customer (KYC) update to ensure these accounts remain compliant and secure. Here’s a comprehensive guide on how to update KYC details in PMJDY accounts with leading banks like SBI, PNB, ICICI Bank, and Canara Bank.

Why is a KYC update required?

KYC (Know Your Customer) is an essential process in banking, aimed at verifying a customer's identity and preventing fraud, money laundering, and other financial crimes. After a decade of active service, a KYC refresh helps banks verify the current details of account holders and ensures records are up to date. This not only keeps accounts secure but also enables smoother services for account holders.

Key documents for KYC update

To update KYC details, you’ll need to provide valid proof of identity and address. Here are some commonly accepted documents:

Proof of identity: Aadhaar card, voter ID, PAN card, passport, driving license

Proof of address: Aadhaar card, utility bill (not older than 3 months), bank statement, voter ID, passport

Additional documents (if applicable): updated contact details like phone number or email

Check with your bank for specific document requirements, as each bank may have additional preferences or requests.

How to update KYC for PMJDY accounts in leading banks

Let’s walk through the KYC update process for PMJDY accounts at four major banks: SBI, PNB, ICICI Bank, and Canara Bank.

State Bank of India (SBI)

SBI has simplified the KYC process for its customers, including those under PMJDY. Here’s how to update your KYC details:

Visit the branch: go to the nearest SBI branch with the required KYC documents.

KYC form submission: ask for the KYC update form, fill it out, and attach your documents.

Verification: submit the form and documents to the bank representative. They will verify your documents, and you may be asked to provide a recent passport-sized photograph.

Confirmation: once verified, your KYC details will be updated, and you’ll receive a confirmation from SBI.

Note: SBI may also offer SMS alerts for KYC updates; contact your branch for details.

Punjab National Bank (PNB)

PNB has a streamlined process for updating KYC details on Jan Dhan accounts.

Branch visit: take your updated KYC documents to the nearest PNB branch.

Form and documentation: fill out the KYC update form and submit it with your ID and address proofs.

In-person verification: bank officials will verify the submitted documents. A recent photo may also be required.

Acknowledgment: upon successful verification, your updated details will be recorded, and the bank will notify you of the completion.

Pro tip: PNB sometimes offers online document submission options via its mobile app or net banking; check with your branch for availability.

ICICI Bank

ICICI Bank allows Jan Dhan account holders to update KYC through a simple process.

Visit the branch: go to the nearest ICICI Bank branch with the required documents.

KYC form: fill out the KYC form and attach your proof of identity and address.

Document verification: bank officials will review your documents for authenticity. You may also need to provide a recent photo.

Update confirmation: ICICI Bank will notify you once the details are updated, often through SMS or email.

Digital option: ICICI Bank sometimes allows KYC document uploads via its iMobile app for certain accounts. Check with customer support for eligibility.

Canara Bank

For Canara Bank customers, updating KYC for PMJDY accounts is straightforward.

Branch submission: visit the nearest Canara Bank branch with your KYC documents.

KYC form completion: fill out the necessary KYC form provided at the branch, and attach your updated ID and address proofs.

Verification process: bank officials will verify the documents and may require a recent photograph.

Completion notification: once the verification is complete, Canara Bank will update your KYC details and notify you.

Additional tip: Canara Bank may have dedicated windows for KYC updates during business hours, helping you complete the process quicker.

Important tips for a smooth KYC update

Carry originals and photocopies: bring original documents for verification, along with photocopies for submission.

Check with your bank first: confirm document requirements with your bank branch to avoid delays.

Avoid peak hours: visiting the bank during non-peak hours can help you avoid long wait times.

Keep contact information updated: make sure to update your mobile number and email ID if they have changed, as banks often use them for important notifications.

What happens if you don’t update KYC?

Failing to update KYC for your PMJDY account may lead to account restrictions, including limited transactions or, in some cases, temporary freezing. Regular KYC updates are crucial for maintaining an active, fully functional account.

Updating your KYC for PMJDY accounts is a straightforward process, but it’s essential to stay proactive. This ensures your account remains secure and continues to offer you the full benefits of the Jan Dhan Yojana. With each of these banks providing simple steps for KYC updates, staying compliant is easy and worthwhile.