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Video KYC, any-branch update now allowed for dormant bank accounts
The Statesman Siliguri
|June 14, 2025
In a significant move to enhance access and simplify procedures for reactivating dormant bank accounts and claiming unclaimed deposits, the Reserve Bank of India (RBI) has issued a new circular easing Know Your Customer (KYC) norms.
As per the circular, customers can now update their KYC details at any bank branch, including non-home branches, for the purpose of activating inoperative accounts and accessing unclaimed deposits. In a customer-friendly shift, the RBI has also allowed the use of Video-based Customer Identification Process (V-CIP) for such updates.
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