IDBI Bank allows video-based customer identification

IDBI Bank on Wednesday announced video-based customer identification process, in line with the RBI’s decision to allow banks to accept the method due to the coronavirus posed challenges to the economy. In an unscheduled announcement, RBI Governor Shaktikanta Das directed banks and other regulated financial entities not to impose any punitive restriction against customers for failure to update KYC till December end, in view of the second wave of coronavirus cases.IDBI Bank on Wednesday announced video-based customer identification process, in line with the RBI’s decision to allow banks to accept the method due to the coronavirus posed challenges to the economy. In an unscheduled announcement, RBI Governor Shaktikanta Das directed banks and other regulated financial entities not to impose any punitive restriction against customers for failure to update KYC till December end, in view of the second wave of coronavirus cases.