RBI: If you have more than one bank account (Bank News) and you have linked those bank accounts to the same phone number, then this news is going to be very useful for you. Account holders having the same phone number in more than one bank account may have to go through new changes in the coming days. Actually, the Reserve Bank of India can bring changes in this system in collaboration with banks. Which will affect account holders having more than one bank account.
More than one bank account holder will be affected.
Whenever you go to open a bank account, you are made to fill the KYC form. You will have to register your mobile number in it. If you have more than one bank account and have entered the same number in KYC, then you may soon have to face new changes. Actually, RBI is preparing to take strict steps regarding the security of bank accounts. RBI, in collaboration with banks, can make changes regarding the security of bank accounts. To keep the security of bank accounts tight, RBI can tighten KYC rules in collaboration with banks. For this, an additional layer can be imposed for verification of bank account holders.
RBI (Reserve Bank of India) is preparing to add an additional layer to bank account verification to make bank accounts more secure. For this, KYC standards can be made stricter. RBI (Reserve Bank of India News) can take action on negligence regarding KYC. For this, a committee headed by Finance Secretary TV Somanathan is working to ensure interoperable KYC rules in the financial sector.
RBI may add additional layers to the verification layers to identify bank accounts and account holders. The Bank can update KYC in the accounts of account holders who have more than one bank account linked to one phone number. KYC of bank accounts can be updated for those who have more than one bank account opened with different documents.
What will be the change
Bank account holders who have more than one bank account linked to the same number will be affected. They may have to enter another number in their KYC form (kaise karwayen KYC). Those who have a joint account will also have to update their second number in the KYC form. This means that in the coming days, account holders having more than one account may have to undergo more verification.
More documents may be demanded from them for KYC. Let us tell you that due to ignoring KYC rules, RBI had recently taken action against Paytm Payment Bank. RBI (Reserve Bank of India) does not want any irregularities in the KYC related matters of banks, hence it is in the mood to be more strict.
