Moneycontrol PRO
Open App
Upcoming Event: Finterest EduTech Technical Analysis Programme in Oct, book your seats.
you are here: HomeNewsIndia

Covid: RBI extends relaxation on periodic updation of KYC till March

The RBI has now asked banks not to impose restrictions on such accounts, where KYC updation is due, till March 31, 2022.

December 30, 2021 / 02:14 PM IST
Representative image

Representative image

The Reserve Bank of India (RBI) on 30 December extended the relaxations given to banks on bank accounts where periodic updation of Know Your Customer (KYC) norms is due. The relaxation has been extended till March, 31, 2022 in view of the Covid situation.

The RBI has now asked banks not to impose restrictions on such accounts, where KYC updation is due, till March 31, 2022.

In May too, the RBI had advised banks not to impose restrictions on operations of customer accounts where periodic updation of KYC is due keeping in view of the current Covid restrictions in the country.

This relaxation was then given till December 31.

The RBI has now extended this relaxation till March 31. “In view of the prevalent uncertainty due to new variant of Covid-19, the relaxation provided in the aforementioned circular is hereby extended till March 31, 2022,” the RBI said.

Close
Covid cases are on the rise again on account of the new Omicron variant. According to the government data, India has so far reported 961 cases of the Omicron variant.
Moneycontrol News
first published: Dec 30, 2021 01:57 pm
Sections
ISO 27001 - BSI Assurance Mark