What does SBI-KYC complaint mean?QuickySolutions

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What does SBI-KYC complaint mean?

Dear Aspirants;

KYC is nothing but KNOW YOUR CUSTOMER.

Reserve Bank of India has created this KYV rule, which means that all nationalized banks such follow KYC norms, before lending any loans to their customer to avoid financial offense, Problems, money laundering etc.

As per this norm a customer has to submit an address proof to the banks (ID Proof may be Ration Card, Voters ID, letter from MP MLA or Gazetted Officer etc

With regards
THEMASK

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