In a customer-friendly shift, the RBI has also allowed the use of Video-based Customer Identification Process (V-CIP) for such updates.
The extension comes as the Mumbai-based bank has launched the search for a new CEO and is engaging with global recruitment firms.
They also emphasised the need for the central bank to strengthen its supervisory mechanisms to detect such frauds early and effectively.
Public sector banks became the first to act on the RBI’s policy signal by promptly cutting their Repo Linked Lending Rates (RLLR).
The rate cut is part of the RBI’s strategy to stimulate economic growth by making borrowing more affordable for both consumers and businesses.
Indian stock exchanges are shut Thursday for Eid, with normal trading activities resuming Friday.
As the global economy continues to navigate uncertain waters, India finds itself at a crucial juncture, with its central bank steering the ship through turbulent seas.
The decision was taken at the Monetary Policy Committee (MPC) meeting of the apex bank.
Reserve Bank of India Governor Shaktikanta Das on Friday proposed to enable UPI for cash deposit facility.
Reserve Bank of India (RBI) Governor Shaktikanta Das at the Monetary Policy Committee (MPC) meeting on Friday announced the policy rate unchanged at 6.5 per cent.
