I’ve a Niyo global credit card by SBM bank and am overseas now. I’ve recently got a mail from SBM bank to do my Re-Kyc with a 3 days valid link. And they ask me to do it within a month before the banking services gets interrupted.
What shall I do? Upon click on the link in the mail, and after providing location access it says Kyc should be done within the territory of India.
My question is, will my CC be affected if I don’t do the Re-KYC? If yes, how and what are the other options?
Hey @John_Wick !
Yes, you need to be in India to complete the re-KYC process.
The Reserve Bank of India (RBI) mandates regular re-KYC for all bank and financial institution customers including the SBM Bank.
Banks have developed online re-KYC solutions to meet this requirement. However, these solutions rely on geolocation technology to verify your location. Therefore, they are only available to customers physically present in India.
If you are currently outside of India, you will need to wait until you return to the country to complete your re-KYC process.
Also, it should not affect your SCC. You can continue using your credit card for payments, and for bill repayments, convenient options like Cred or Mobikwik are available to you.