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I opened a zero balance bank account with Canara Bank when I was a student, so my passbook reflects my occupation as "student." However, I have been employed for the past five years. Do I need to update my occupation in the passbook? If I don't update it, would that violate any laws?
Sir, while it is not legally required to update your occupation in the bank passbook so it's a good idea to do so for accurate records. Banks often request updated information during KYC checks to follow regulations. If you don’t update it, there likely won’t be legal consequences, but it could cause issues with future bank services. It’s best to update your details when possible. For further legal assistance contact us on our helpline number.