RBI Governor Sanjay Malhotra has issued a strong message to banks, urging them to streamline their ‘know your customer’ (KYC) processes and addressing the ongoing inconvenience faced by customers asked to repeatedly submit the same documents. Speaking at the annual RBI Ombudsmen conference, Malhotra emphasized the importance of utilizing a centralized database for KYC documentation access, highlighting that repeated requests constitute an unnecessary burden on customers.
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