The Reserve Bank of India (RBI) has instructed banks to take immediate action to reduce the number of inactive or frozen accounts. The problem arises from inactivity or pending KYC updates, causing customers to face difficulties when trying to reactivate their accounts. To resolve this issue, RBI has directed banks to facilitate easy KYC updates through online, mobile banking, and video customer identification methods. Banks must also streamline the process of activating accounts, including HDFC Bank,-IDFC FIRST Bank, SBI, and PNB. To reactivate an account, customers can follow these steps:
* HDFC Bank: Visit a branch, fill out an application with signature, and provide self-attested identification and address proof. Initiate a transaction to reactivate the account.
* PNB: Visit the base branch with a request letter and updated KYC documents, and provide an Aadhaar number for authentication. Deposit Rs 100 to reactivate the account.
* SBI: Visit any branch with recent KYC documentation, submit a request to activate the account, and provide the requested documentation. The account will be activated and the customer will be notified via SMS or email.
All account activation requests submitted at branches will be processed within three working days after receipt of the completed application.