KYC Alert: If your account is in public sector Bank of Baroda, then this news is very important for you. Actually, Bank of Baroda (BoB) has issued an alert to its customers regarding Central KYC (C-KYC).
The bank said, the customers who have been contacted for C-KYC should immediately go to the branch and submit their KYC documents. BoB has given this information by tweeting.
Submit KYC documents by March 24
Bank of Baroda (BoB) said in a tweet, notice to customers. Customers who have received notices/SMS/calls for CKYC from the bank are requested to visit their branch immediately and submit the KYC documents to their branch by 24th March. Please ignore if you have already submitted.
C-KYC has replaced KYC. Now there is no need to complete the KYC process again and again to open a bank account, buy life insurance, invest in mutual funds. The records of C-KYC are stored in digital form with CERSAI. With this, institutions will not get a chance to duplicate your data. Also, the institutions will also be able to know whether you have fulfilled the KYC norms or not.
C-KYC has replaced KYC. Now there is no need to complete the KYC process again and again to open a bank account, buy life insurance, invest in mutual funds. The records of C-KYC are stored in digital form with CERSAI. With this, institutions will not get a chance to duplicate your data. Also, the institutions will also be able to know whether you have fulfilled the KYC norms or not.
