RBI asks banks to give due notices to customers for periodic KYC update
In a circular, the RBI said it has observed a large pendency in periodic updation of KYC, including in the accounts opened for credit of Direct Benefit Transfer (DBT)/ Electronic Benefit Transfer (EBT) under government schemes to facilitate credit of DBTs and/or scholarship amount (DBT/EBT/scholarship beneficiaries) and accounts opened under PMJDY.