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Banks have geared up for KYC process
Updated : Oct 8, 2016
Hyderabad: At various ATMs across the country, messages were being received by the customers of all banks that their debit cards were blocked and that they need to go to the nearest branches of their banks to update their personal information and to get their cards reactivated. M.S Kumar, the secretary of the association of all India Bank Employees said, “The Reserve Bank of India has issued guide lines on KYC to curb misuses by cyber fraudsters and criminals”, adding that, all banks across the country had geared up for Know Your Customer process and bankers were sending SMS to the registered customers’ mobile number and blocking their cards for not responding on the matter.