What is re-KYC?
Re-KYC refers to the measure taken by banks to ensure that a customer’s details like documents, contact information, etc. collected at the time of bank account opening are up to date. This is done at regular intervals as per RBI guidelines.
This is how Canara Bank customers can do their re-KYC through SMS and email
Through SMS
Send REKYC<space>Customer ID to 56161.
Send SMS as REKYC 1234567 to 56161 from your
“Registered Mobile Number".
Through Mail
Send REKYC<space>Customer ID as SUBJECT to
rekyc@canarabank.com from your Registered Mail ID.
What does the re-KYC process look like?
-The customer needs to fill out a re-KYC form with their personal information.
-The customer needs to self-attest copies of acceptable identity and residential proof that will be submitted along with the re-KYC form.
-Submission of documents and KYC form can be done physically by visiting the bank branch or by scanning the documents and uploading the same on the Net banking portal.
- Once the documents and form are submitted, the bank will complete the re-KYC process.
-In case of joint account holders, the re-KYC declaration form is required to be submitted for each individual account holder.
Meanwhile, state-owned Canara Bank last week reported an 89 per cent increase in its net profit to ₹2,525 crore for the quarter ended September on the back of robust growth in net interest income and decline in bad loans.
The lender had posted a net profit of ₹1,333 crore in the same period of the previous fiscal.
