Summary of this article
RBI sets September 30 deadline for all customers to update KYC
Gram Panchayat camps set up to help rural users complete re-KYC
Outdated KYC may lead to account restrictions or temporary freezing
To ensure uninterrupted access to banking services, the Reserve Bank of India (RBI) has asked all bank account holders to update their Know Your Customer (KYC) details by September 30, 2025. The message is part of the RBI's public awareness campaign, "RBI Kehta Hai," which aims to make financial rules and rights easier to understand for the common mass, and this initiative to use Gram Panchayat Camps to complete re-KYC is a part of the RBI's nationwide campaign for saturation of financial inclusion (FI) schemes.
Why KYC is Crucial
RBI has asked all banks to periodically (in every 2-3 years) request customers to revise their KYC details in order to comply with regulations that prevent fraud and secure the banking system. If a customer fails to update their information, banks may put a cap or temporarily freeze their accounts.
This is particularly relevant for people who might have changed their address, name, or contact details after they initially activated their accounts. If the information is not current or incomplete, it may cause issues at the time of transactions or when receiving benefits from the government.
Customers Can Visit Local Panchayat Camps
To facilitate the process, RBI has requested customers, particularly in semi-urban and rural areas, to go to special KYC camps organised at Gram Panchayat offices. Customers who are unable to attend these camps may go to their local bank branch to update.
In most villages, local authorities and banks are collaborating to arrange camps in a way that individuals do not have to go very far from their homes. This is supposed to reduce delays and benefit senior citizens or those without a digital presence.
Documents You May Need
Updating KYC need not be cumbersome. Here's what consumers need to prepare:
Any identity card issued by the government, such as Aadhaar card, Voter ID, PAN card, or MGNREGA work card
Proof of address (if it has changed)
A self-declaration if there are no changes in personal details
Banks will also send messages to customers requesting particular documents or information. It's best to respond to these messages and not neglect them, but make sure that you verify the source of the text message.
Don't Fall For Rumours
RBI also reminds customers to exercise caution regarding spam messages or social media notifications stating new regulations regarding KYC or other banking facilities. Always check such information from authentic sources such as the RBI website or your bank's customer care.
If you have received a message by your bank requesting a KYC update, don't procrastinate. Go to the closest KYC camp at your Gram Panchayat or proceed to your bank branch along with documents. Updating your KYC by September 30, 2025, will enable you to use your account without any hassle.
