RBI new rules for customer with multiple bank account in Single mobile number
However, nowadays, opening a bank account is definitely necessary for KYC. Because when a person opens a bank account, KYC must be conducted to ensure that the information provided by him is correct.
Reserve Bank of India (RBI) is implementing strict measures for banks to keep people’s money safe. As a result, many people tend to store their money in banks. Against this backdrop, RBI, in collaboration with banks, is implementing new rules to bring about changes in the security of accounts.
Nowadays everyone has a bank account. Everyone from small children to adults has at least one bank account. Because nowadays no work is done without a bank account. However, there is no rule that a bank account should be mandatory, but to get government guarantees, you must have a bank account. Moreover, many people are taking multiple types of bank accounts because of the possibility of opening more accounts with the same number.
Some take bank accounts for employment, while others take bank accounts for home loans and car loans. But nowadays many people have more than one bank account. In this background, RBI has brought new rules for those who have more than one bank account. However, nowadays it is mandatory to register a bank account with Aadhaar card and mobile number.
At the same time, even those with more accounts are registering the same mobile number everywhere. However, RBI has clarified that this is no longer the case, but when you open a new bank account, you will have to complete a Know Your Customer (KYC) form. For this, RBI has also changed the norms and standards of KYC.
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Under this order, customers having more than one bank account and linked to the same number can update to do KYC. In case of joint accounts, another mobile number needs to be updated in the KYC form. However, nowadays, opening a bank account is definitely necessary for KYC. Because when a person opens a bank account, KYC must be conducted to ensure that the information provided by him is correct. That is why banks are telling customers that new account takers should undergo KYC.
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