"To study the process and significance of periodic Re-KYC in financial institutions, ensuring updated customer information, continued regulatory compliance, and risk management."
Concept Understanding Study what Re-KYC means and why it is required periodically by financial institutions.
Regulatory Guidelines Review Analyze RBI and SEBI guidelines related to Re-KYC frequency, methods, and compliance requirements.
Process Mapping Map out the Re-KYC process followed in banks, NBFCs, or mutual fund institutions.
Types of Re-KYC Understand different modes: physical Re-KYC, online Re-KYC, and video-based Re-KYC.
Data Collection Gather data through interviews with bank staff or customers regarding their experience with Re-KYC.
Customer Communication Study Analyze how institutions inform and guide customers regarding Re-KYC requirements.
Challenges & Pain Points Identify common issues faced during Re-KYC (e.g., delays, customer unawareness, digital divide).
Technology & Automation Review Explore how technology is being used to simplify and automate the Re-KYC process.
Recommendations for Improvement Suggest ways to enhance customer experience and reduce operational burden during Re-KYC.
Final Report & Presentation Compile all findings, case studies, and suggestions into a comprehensive report and prepare a presentation for evaluation.
