Banks need to periodically update customer identification documents in their records of account holders to adhere to the KYC norms issued by the Reserve Bank of India (RBI). This can be triggered by a drastic change in the customer's profile or nature of transactions in the account and depends upon the risk profile of the account holder.
In this regard, in addition to the KYC carried out at the time of account opening, the account holders may be required to undergo re-KYC and submit re ..
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