The Business Bytes
TBB BUREAU
MUMBAI, AUGUST 22, 2023
Bank of Baroda on Tuesday announced the launch of Video Re-KYC for eligible individual resident customers. Available in English and Hindi, this is an alternative and more convenient method for customers to complete the periodic updation of KYC (Know Your Customer) digitally. Customers, whose Re-KYC is due, can complete their Video KYC in a few minutes without having to visit the branch.
To avail the Video KYC facility, customers must be resident individuals, above 18 years of age and must have their Aadhaar number and original PAN Card. In the first stage, customers have to visit the Bank of Baroda website and complete the online Re-KYC application by submitting some basic information online. Once the online application is submitted, the Video KYC call with the bank executive will be conducted. For the Video call, customers will require an original PAN Card, a blank white sheet of paper and a blue/black pen.
Video Re-KYC calls will be undertaken during business hours i.e. between 10 AM and 6 PM on all working days.
On successful completion of the video session, the customer’s details will be updated in the Bank’s records and a confirmation text message will be sent to the customer.
Periodic updation of KYC (Re-KYC) is a mandatory requirement of the Reserve Bank of India (RBI) and customers need to immediately update their KYC documents with the bank when KYC update is due. The rollout of the Video Re-KYC facility makes the Re-KYC process much simpler, more convenient and elevates the entire customer experience. Customers of the Bank whose Re-KYC update is pending can now make the most of this facility and complete the process with ease.
Bank of Baroda introduced Video KYC in the year 2021 to open full-fledged digital savings accounts. The Bank has now extended Video KYC for Re-KYC facility for the convenience of its customers.
