The State Bank of India (SBI) has announced new rules that will come into effect on October 31, 2025, affecting its numerous customers. The primary objective of these rules is to enhance account security and prevent banking fraud. To avoid any inconvenience, customers must update their Know Your Customer (KYC) information and ensure their accounts are active. Inactive accounts or those with incomplete information may be blocked or deactivated if not updated on time.
The new rules include a requirement for customers to update their KYC documents, such as passports, Aadhaar, and PAN cards, to prevent account closure. Additionally, SBI has imposed daily ATM cash withdrawal limits, effective October 31, 2025. Classic and Maestro debit cardholders will have a limit of ₹20,000, while Gold and Platinum cardholders will have limits of ₹50,000 and ₹100,000, respectively.
To comply with these new rules, customers must take the following steps before October 31:
1. Update their SBI account KYC documents to ensure they are current and verified.
2. Make regular transactions to prevent their account from becoming inactive.
3. Complete the necessary process for cash loans or overdraft facilities by contacting the bank.
4. Adjust their withdrawal behavior according to the new ATM cash withdrawal limits.
5. File their free Income Tax Return (ITR) using SBI’s YONO app or Tax2win app.
It is essential for customers to be cautious of suspicious messages or calls that may ask for personal details or threaten to block their account, as these can be scams. Customers should contact their bank’s official branch or customer care to understand and comply with the terms and conditions. By taking these steps, customers can ensure a seamless banking experience and avoid any potential issues with their accounts. The new rules aim to increase security and prevent banking fraud, and customers must take the necessary steps to comply with these regulations.