Due to the lack of KYC (Know Your Customer), customers often have to make multiple visits to the bank. If KYC documents are not submitted, the bank freezes or suspends the account, causing numerous difficulties for customers. When individuals have multiple bank accounts, only a few accounts are operational, while others become inactive. To reactivate such accounts, customers are required to update KYC documents and deposit a specified amount.However, the main issue is that when opening a bank account, the bank collects all necessary documents from customers, such as Aadhaar Card and PAN Card, which are government-issued documents. So, how many times do customers need to submit documents under the KYC process? Customers are already burdened by service charges for maintaining minimum balance and other services. For instance, if there is only ₹100 in my account and it doesn’t meet the bank's minimum balance requirement, the bank imposes penalties several times the amount.There are delays in updating KYC information on the bank’s part. Due to a shortage of staff in many banks, the KYC process often remains pending. When will ordinary bank customers escape this vicious cycle?
