The reserve bank of India announced that while seeing the problems faced by the customers while filling up the KYC form to open the saings account, the apex bank has decided to make it easier.
It has stated that now banks will not ask the customers to be phyiscally present over there or will not ask the customers for the fresh identity proof in case of the no change in status for the low risk customers. Though it is compulsory for the bank to complete the KYC for the all the customers.
Since the customers are facing difficulty so the RBI has asked the banks to reduce the responsibity on the customers part and make it simpler for them. Banks should complete the procedure with the minimum efforts on the customers part.