https://www.taxtmi.com/article/detailed?id=9986 Confusion and inconsistent implementation of KYC, Re-KYC and CKYC by banks has produced routine customer harassment. KYC is a customer-level verification and need not be repeated for each account; periodic updating follows risk-based timeframes. Inoperative/dormant classification is a risk-control measure and should not inconvenience customers: banks must permit operations after due diligence (signature/identity checks) and should accept CKYC/KIN where available rather than insist on duplicate documents. en-us Tue, 07 Sep 2021 10:32:32 +0530 Tue, 07 Sep 2021 10:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9986 Confusion and inconsistent implementation of KYC, Re-KYC and CKYC by banks has produced routine customer harassment. KYC is a customer-level verification and need not be repeated for each account; periodic updating follows risk-based timeframes. Inoperative/dormant classification is a risk-control measure and should not inconvenience customers: banks must permit operations after due diligence (signature/identity checks) and should accept CKYC/KIN where available rather than insist on duplicate documents. Articles Other Topics Tue, 07 Sep 2021 10:32:32 +0530 https://www.taxtmi.com/article/detailed?id=9986