KYC update last date: KYC details can be updated by Dec 31;

KYC update last date: KYC details can be updated by Dec 31; select limited KYC a/cs can be made fully compliant: RBI


Synopsis
RBI also announced that limited KYC accounts opened on the basis of Aadhaar e-KYC authentication in non-face-to-face mode can be converted to fully KYC-compliant accounts.
RBI eases KYC compliance, no punitive actions till Dec 2021; extends video KYC to new customers
Those who have to update their KYC details of their bank accounts can breathe a little easy. The Reserve Bank of India (RBI) announced today that banks should not take punitive action against those customer accounts where periodic KYC updating is due/pending. RBI has given time until December 31, 2021 for customers to update their KYC details.
This announcement was part of the RBI governor, Shakthikantha Das' unscheduled speech on May 5, 2021 to announce measures to tackle the ongoing second wave of the novel coronavirus pandemic.

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