No need of KYC from 'all' members of SHGs: RBI

Reserve Bank of India (RBI) today said there is no need of know your customer (KYC) verification of all the members of self help groups (SHGs).

KYC of the office bearers would be enough for opening savings bank account.

In case of same account is used for credit linkage and is operational there would be no need of KYC again, RBI said in a circular to the banks.