State Bank of India (SBI) customers take note! The public sector lender has frozen many bank accounts of customers for non-compliance with KYC (Know Your Customer) norms. Several customers of the bank have taken to Twitter complaining about the same and tagged the official handle of SBI.
The bank has frozen the accounts for not updating their KYC details by July 1, as part of the SBI’s ongoing KYC drive. Due to this, many customers are not being able to execute any transaction with their SBI accounts. One SBI Customer Ajit Wale tweeted, “@TheOfficialSBI My account money transfer is banned and it shows message "KYC non-compliance" Atleast call or mail to complete the KYC, but here SBI directly stopped transaction...I am NRI... please guide how to complete KYC...”