Prime Minister Narendra Modi, while addressing the nation on February 22, in his Mann Ki Baat, stressed the importance of completing Know Your Customer (KYC) formalities. He said that you all must be aware of the process of KYC i.e. Know Your Customer, and he explained why banks repeatedly ask customers to update their details to keep their money and personal information safe.
KYC is a mandatory verification process used by financial institutions like banks and NBFCs to verify a customer’s identity, address and legitimacy during onboarding. It plays an important role in preventing financial crimes like money laundering, fraud and terrorism financing. Common KYC documents include Aadhaar, PAN, passport and utility bill.
Why is KYC important?
Emphasizing on the growing link between bank account and welfare services, PM Modi said that we all know that nowadays, pension, subsidy, insurance, UPI, everything is linked to the bank account, and said that with timely KYC, your account remains safe and works without any interruption. The reason for this is that most of the financial services are coming on digital platforms. He appealed to people to update their banking details immediately to keep their accounts safe.
Stay Alert And Secure Banking!
While addressing the Nation through #MannKiBaat,PM @narendramodi urged citizens to promptly update their banking details to keep accounts safe.
He cautioned against fraud calls and fake links use only official bank channels, never share OTPs or pic.twitter.com/zZ7jxJCNBC
— MyGovIndia (@mygovindia) February 22, 2026
Warning regarding cyber fraud
The Prime Minister also warned people against increasing cyber frauds, saying that scammers make fraudulent calls, send SMS, links etc. Therefore, we need to be careful of them and not fall prey to such fraudsters, he said, appealing for greater awareness among people about online financial threats. He advised people to rely only on official channels to update their details, and said to do their KYC or reKYC and update it from their bank or through official apps and authorized means. He said that to avoid fraud it is important to follow the correct process.
important tips from diya
Modi warned people against sharing sensitive information, saying do not share OTP, Aadhaar number or bank account details with anyone, and most importantly, keep changing your password regularly. He also appealed to the common people to adopt basic digital safety methods in their daily transactions. Linking financial discipline to the larger national goal, the Prime Minister said that keep in mind that completing KYC on time keeps your account safe and helps in creating a self-reliant India. He described safe banking habits as a step towards strengthening the digital economy of the country. He finally said that safe citizens make a strong India.