In the second wave of the Corona epidemic, the country’s largest state-run bank, State Bank of India, has allowed KYC documents to be submitted through the mail in view of the problems facing customers due to local lockdown. SBI on 30 April advised the Chief General Managers of all its 17 local head offices to once again accept KYC document requests through post or mail without direct presence of the customer at the branch as cases of corona infection increased in communication. Granted.
The same is now expected to be done by other public sector banks. KYC updates to high-risk customers at least once in two years, medium-risk customers to 8 years and low-risk customers once every 10 years. In many states, KYC can be updated by sending mail to branches in the wake of local restrictions or lockdowns.
It was also asked to ensure that customer accounts are not partially closed till May 31 due to non-updating of KYC. These instructions are applicable with immediate effect. The bank has tweeted a toll-free number to all its customers at the time of this problem. According to SBI, branches do not need to come in this difficult time. Most of your work will be done with this toll-free number. The toll-free number of the bank is 1800 112 211 and 1800 425 3800.