RBI extends deadline for periodic KYC update till March 31

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Mumbai: The Reserve Bank of India (RBI) has extended the last date for periodic KYC update till March 31, amid Omicron uncertainties and has advised banks and other regulated entities not to take restrictive action against customers till the fiscal end.

Earlier in May, the RBI had extended the last date for updation of KYC by regulated entities till December-end because of the second wave of the coronavirus pandemic.

“In view of the prevalent uncertainty due to new variant of COVID-19, the relaxation provided in the … circular (relating to Periodic Updation of KYC Restrictions on Account Operations for Non-compliance issued in May) is hereby extended till March 31, 2022,” the RBI said on Thursday.

In May, the RBI had advised the regulated entities not to impose punitive restriction on operations of accounts of customers for their failure to comply with the KYC updation norms till December-end.

Gold declines Rs 98; silver tumbles Rs 699

New Delhi, Dec 30 (PTI) Gold prices declined by Rs 98 to Rs 46,688 per 10 gram in the national capital on Thursday in line with weak global cues, according to HDFC Securities.

In the previous trade, the precious metal settled at Rs 46,786 per 10 gram.

Silver also tumbled Rs 699 to Rs 60,024 per kg from Rs 60,723 per kg in the previous trade.

In the international market, gold was trading lower at USD 1,799 per ounce and silver was flat at USD 22.60 per ounce.

“Gold prices traded lower with spot gold at COMEX trading at USD 1,799 per ounce on Thursday. Gold prices witnessed selling on risk-on sentiment with rise in US bond yields and a stronger dollar,” HDFC Securities, Senior Analyst (Commodities), Tapan Patel said. (Agencies)

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