look news india
Nowadays most people have more than one bank account. Whenever a new bank account is opened the bank asks the customer to fill the KYC form. In such a situation, if you have more than one bank account and all are linked to one mobile number, then be careful. RBI can make big changes regarding this.
Who will be affected more?
According to media reports, no matter which bank it is, this rule will have more impact on joint accounts and multiple account holders having the same number. For this, account holders will have to enter another number in the KYC form. Similarly, those having joint accounts will also have to provide an alternative number.
A committee led by Finance Secretary TV Somanathan is working to standardize and ensure interoperable KYC norms across the financial sector. Fitness companies have been accused of ignoring KYC rules. RBI has taken action against Paytm Payments Bank for non-compliance with regulatory and KYC rules.
Some people may have more verification
According to a report, a bank official said the focus is on multi-level secondary identifiers such as PAN, Aadhaar and unique mobile numbers for joint accounts. In the coming days, there may be more verification of people having more than one bank account and banks may demand more documents from such people for KYC (Bank KYC Update).
