fbpx
  Previous   Next
HomeBusinessRBI Extends KYC Updation Till March 31, 2022

RBI Extends KYC Updation Till March 31, 2022

The Reserve Bank of India (RBI) on 30 December extended the relaxations given to banks on bank accounts where periodic updation of Know Your Customer (KYC) norms is due. The relaxation has been extended till March 31, 2022, in view of the Covid situation.

The RBI has now asked banks not to impose restrictions on such accounts, where KYC updation is due, till March 31, 2022.

In May too, the RBI had advised banks not to impose restrictions on operations of customer accounts where periodic updation of KYC is due keeping in view of the current Covid restrictions in the country.

This relaxation was then given till December 31.

The RBI has now extended this relaxation till March 31. “In view of the prevalent uncertainty due to new variant of Covid-19, the relaxation provided in the aforementioned circular is hereby extended till March 31, 2022,” the RBI said.

Covid cases are on the rise again on account of the new Omicron variant. According to the government data, India has so far reported 961 cases of the Omicron variant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News

Assam CM’s Dig At Rahul Gandhi Says Rahul Gandhi Looks Like Saddam Hussain

Assam chief minister Himanta Biswa Sarma in his latest dig at Rahul Gandhi said that the Congress leader's looks have changed and he looks...

Nearly 75% Twitter Employees Layoffs In A Month, Will Elon Musk’s New Policy Be Able To Assure The Employees

After cutting nearly 75% workforce of Twitter in less than a month since the takeover, Elon Musk is now reported to have kept the...

Condition of Hospitals In Bihar Is Worst: Supreme Court

The Supreme Court on Monday (21 Nov) came down heavily on the Government of Bihar for allowing persons without the necessary qualifications to discharge...

RELATED NEWS

Keep Your Money Safe, Jeff Bezos Warns Economic Recession

Amazon founder Jeff Bezos recently warned consumers and businesses that they should consider postponing large purchases during the holiday season as an economic recession...

G20 Presidency Is A Proud Occasion For Every Indian: PM Modi

Indonesia President Joko Widodo handed over the G20 Presidency to India at the closing ceremony of the 17th intergovernmental summit in Bali on Wednesday....

Unmanned Trains Will Run Soon In India

Bharat Electronics Ltd (BEL) has signed an agreement with Delhi Metro Rail Corporation Ltd (DMRC) to jointly develop an indigenous communication-based train control system...