Periodic KYC Update Deadline Extended till March 31 by RBI

Periodic KYC Update Deadline

The Reserve Bank of India (RBI) has extended the deadline for Know Your Customer (KYC) updated deadline until March 31, 2022. Along with the extension of the deadline, the apex bank of India has advised the banks and other regulated entities to not take any action against their customer who has not updated their KYC.

This decision was taken because of the uncertainties of Omicron, the new variant of COVID-19. The deadline was earlier set at the end of May 2021, which was extended because of the second wave of the coronavirus till December 31st.