Reserve Bank of India (RBI) on December 30 extend relaxation given to the bank in a bank account where periodic updates from your customer’s norm (KYC) are due. Relaxation has been extended until March, 31, 2022 considering the covid situation.
RBI has now asked the bank not to impose restrictions on the account, where KYC renewal is due, until March 31, 2022.
In May Also, RBI suggested a bank not forcing restrictions on customer account operations where KYC periodic updates are scheduled to view the current covid limit in this country.
This relaxation is then given until December 31.
RBI has now extended this relaxation until March 31. “Given the uncertainty that is common because of the new Covid-19 variant, relaxation given in the circle mentioned above with this extended until March 31, 2022,” RBI said.
Covid cases are increasing again because of the new Omicron variant. According to government data, India has so far reported 961 cases of omicron variants.
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