If you have a Jan Dhan account then pay attention, the bank is sending this important message, if you ignore it the account will be closed.

News India Live, Digital Desk: If you also have an account in any bank under Pradhan Mantri Jan Dhan Yojana, then this news is very important for you. The government and banks together have started a big campaign across the country, under which crores of Jan Dhan accounts will be closed. Re-KYC Is being done.

SMS are also being sent to customers by banks for this. If you also neglect this important task, you will not be able to withdraw money from your account and your account may also be temporarily frozen. So let us understand in simple language what is KYC and why is it so important to get it done.

What is KYC and why is it important?

Full meaning of KYC ‘Know Your Customer’ (Know your customer). This is a process through which the bank ensures that the account holder’s information is correct and updated. According to the rules of Reserve Bank of India (RBI), it is necessary to get this done every few years.

This is also important for the government and banks because:

• Fake accounts will be closed: This will identify crores of accounts which are either fake or no longer in use.
• Money will reach the right place: Money from government schemes, such as Kisan Samman Nidhi or subsidies, comes directly into these accounts. KYC will ensure that the money is reaching the right beneficiary only.
• Fraud will stop: Updated KYC helps in preventing fraud in the banking system.

How to get your KYC updated? This is the whole process

This is a very easy process, for which you do not need to worry much.

1. Find out if KYC is required or not:

• In most cases, the bank itself will send you an SMS or email informing you that your KYC is due.
• If no message has come and you have doubts, you can find out by going to your bank branch.

2. Keep important documents ready:

• All you need is your identity and address proof. The easiest ones for this are:
  • Aadhar card
  • PAN card
• Along with these, the bank may also ask you for a recent passport size photograph.

3. Visit your bank branch:

• Take the photocopies and original copies of these documents to the bank branch where you have your Jan Dhan account.
• There you will be given a small KYC form to fill.
• Fill the form and submit it along with photocopies of the documents. The bank employee will return the original copy after seeing it.
• That’s it, your KYC will be updated. No money is required for this work.

What will happen if KYC is not done?

If you do not update your KYC despite sending messages from the bank, the bank may impose some restrictions on your account:

• You may not be able to withdraw money from your account.
• Money from government schemes may stop coming into your account.
• If KYC is not done for a long time, the bank may temporarily ‘freeze’ or deactivate your account.

This is a small but very important process. Therefore, if you have also received the message of KYC from the bank, then do not delay. Go to your bank today and get this work done, so that you do not have to face any kind of problem in future.