Reserve Bank of India announced the banks to make account opening easy by accepting self attested copies of documents. Know Your Customer (KYC) rules which has been changed is about to be implemented.
Self attested copies which are received through post mails or emails should also be accepted, said RBI. For people who already have an existing bank account need not submit KYC documents to the bank and RBI has asked banks not to ask these documents again.
Banks should not keep calling the customers for queries regarding document verification in case of minor doubts. Also the necessary documents are enough and all KYC documents need not be presented.
In case if the customers, whom not present KYC documents within the provided timeline, the accounts will be partially frozen. At this point of time, account credit will be enabled while debit will be disabled. Also the banks can allow customers to close the account if required.