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What is re-KYC?
Nov 01, 09:11

Know Your Customer (KYC) details are documents, contact information that is collected at the time of opening a bank account. Re-KYC refers to the measure taken by banks to ensure that these documents collected at the time of opening the bank account are up to date. Based on guidelines laid out by the RBI, banks may ask for re-KYC at specific intervals from a customer to keep the records updated. For example, if any of your personal or contact information has changed, that will be updated through the re-KYC process. The primary goal of this process is to potentially catch and eliminate illegal activities, fraud across any banking platform.

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