When does KYC apply?

1 year ago
Banking

KYC will be carried out for the following but is not limited to:
 Opening a new account.(deposit/ borrowal )
 Opening a subsequent account where documents as per current KYC standards not submitted
while opening the initial account.
 Opening a locker facility where these documents are not available with the bank for all locker
facility holders.
 When the bank feels it is necessary to obtain additional information from existing customers
based on the conduct of the account.
 After periodic intervals based on instructions received from RBI.
 When there are changes to signatories, mandate holders, beneficial owners, etc.

0
Rusma Khadka
Rusma Khadka
May 23, 2023
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