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Account Credit Freeze for Incomplete KYC
30-Dec-2024 (In Recovery Law)
Hello, my account's credit has been frozen due to incomplete KYC. I did receive multiple reminders from the bank to update KYC, however, after the credits were frozen, I was not intimated by the bank of the same. I had to find this out when a payment from my office was rejected. The nearest bank branch then notified me that the reversal will take 48 hours after I submitted my documents to them. RBI guidelines mention 'partial freeze' and debit freeze, but not credit freeze.
if this is the case you kindly proceed to make a complaint to the banking ombudsman with all relevant information and supporting documents. in case, the authority doesn't allow, go in appeal.
first kindly check the rules before hand regarding the same
Helpful?
Adv. Deepanshu Garg
Delhi | 100+ Answers
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