PM Modi Stresses KYC, Re-KYC in Man Ki Baat: Secure Your Bank Account Now!

• PM Modi highlighted the importance of KYC, Re-KYC, and regular password changes for financial security in 'Man Ki Baat'.
• KYC (Know Your Customer) is a process for financial institutions to verify customer identity and address, crucial for opening accounts or investments.
• Re-KYC involves updating personal information periodically, necessary due to changes in address, mobile number, or expiring documents.
• Required documents for KYC typically include Aadhaar, PAN, Voter ID; Aadhaar alone is often sufficient now.
• Re-KYC frequency varies by account risk: high-risk every 2 years, medium every 8 years, low every 10 years, or anytime information changes.