SBI to charge customer for maintaining KYC deficient accounts

State Bank of India (SBI) to Charge Customer for maintaining KYC deficient (Non-KYC Complaint) accounts.

Mumbai headquartered country’s largest lender State Bank of India (SBI)SBI-Logo to charge it’s customer for maintaining non-KYC (Know Your Customer) Complaint accounts with the bank. As per the latest service charge published on it’s website effective from 30th December, 2013, the bank said after giving two/ three notices to the concerned customer to comply with KYC norms the bank bank will charge Rs 100 + ST per annum till account remains KYC deficient. This exclude the inoperative accounts and also exclude small accounts opened with relaxed KYC norms as per the RBI guidelines.

The bank has already started informing concerned customers via SMS and other available media.

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