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1 address proof is enough to open bank ac
Posted on: 29/Aug/2014 9:34:20 AM
Reserve Bank of India has relaxed ‘know your customer’ (KYC) norms to open new bank accounts. RBI said there would be no need for applicants to submit separate documents for address and identity proof to open a savings account. The central bank has directed banks to accept a single document, like a driving licence, which contains the applicant’s photograph and address to open an account.
“Officially valid documents for KYC include passport, driving licence, voter ID card, PAN card, Aadhaar letter issued by UIDAI and job card issued by MNREGA and signed by a state government official,” RBI said. It also announced several other relaxations.
To make the process of opening an account easier, banks will treat information containing personal details like name, address, age, gender and photographs made available by UIDAI as a result of e-KYC process as officially valid documents.
Applicants will not need to submit separate proof for current address. Customers will also not need to submit separate KYC proof for transfer of a bank account from one branch to another.
Banks will open small accounts for people without officially valid documents.A person can open a small account with a self-attested photograph and signature or thumb print in the presence of a bank official.These accounts will be valid for 12 months, within which the customer can submit officially valid documents to open a regular savings account.
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