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What If I Do Not Provide The Kyc Documents At The Time Of Periodic Updation? |
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Answer» If you do not provide your KYC documents at the time of periodic updation, bank has the option to CLOSE your account. Before closing the account, the bank may, however, impose ‘partial freezing’ (i.e. initially allowing all credits and DISALLOWING all debits while giving an option to you to close the account and take your money back). LATER, even credits also WOULD not be allowed. The ‘partial freezing’ however, would be exercised by the bank after giving you DUE notice. If you do not provide your KYC documents at the time of periodic updation, bank has the option to close your account. Before closing the account, the bank may, however, impose ‘partial freezing’ (i.e. initially allowing all credits and disallowing all debits while giving an option to you to close the account and take your money back). Later, even credits also would not be allowed. The ‘partial freezing’ however, would be exercised by the bank after giving you due notice. |
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