The Reserve Bank has reprimanded the banks which are freezing the accounts for not having KYC. Actually, the banks are freezing the accounts of those people who receive Direct Benefit Transfer (DBT) funds from the government in their accounts for not having KYC. This includes subsidy, pension, money from a special scheme etc. Apart from … Continue reading Bank KYC Update: RBI reprimands banks for freezing accounts due to lack of KYC. check Details