Know Your Customer (KYC) is an important mode of data collection by financial institutions including banks.
When we open an account with a bank, or invest in a bank account or another financial institution, they collect our information – this is called Know Your Customer.
This usually includes submitting our personal details, biometrics in some cases and providing documents like Aadhar, PAN and the like.
Apart from providing our KYC details while opening an account or doing an investment, banks also require you to update the KYC information periodically.
In this direction, SBI has provided a deadline for its customers to update KYC if it is already pending.
Know the complete details about this announcement, and find out how you can perform KYC updation for your SBI account in today’s video!
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