RBI extends deadline for periodic KYC update to March 31, 2022

The Reserve Bank of India (RBI) on Thursday extended the last date for KYC updation for bank accounts by three months to March 31 next year.  

In a notification on its website, the central bank said it was extending the deadline in view of the “prevalent uncertainty due to new variant of Covid-19”. 

The central bank had relaxed the rules first in May last year due to the pandemic and had said banking services should not be restricted just because the KYC documents have not been updated by the customer.