Banking News

What are the valid address proof documents for KYC?

The Government of India has provided additional relaxation for the purpose of address in addition to the relaxation in proof of identity under simplified measures of PML rules. Accordingly RBI has notified that the following additional documents are deemed to be Officially Valid Documents (OVD) for proof of address.

  1. Utility bill which is not more than two months old of any service provider (electricity, telephone, postpaid mobile phone, piped gas, water bill).
  2. Property or Municipal Tax receipt;
  3. Bank account or Post Office savings bank account statement;
  4. Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
  5. Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, and public sector undertakings, scheduled commercial banks, financial institutions and listed companies. Similarly, leave and license agreements with such employers allotting official accommodation;
  6. Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India.

The additional documents mentioned above shall be deemed to be OVDs under ‘simplified measure’ for the ‘low risk’ customers for the limited purpose of proof of address where customers are unable to produce any OVD for the same.

All Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All authorised persons including those who are agents of Money Transfer Service Scheme are advised to revise your KYC policy in the light of the above instructions and ensure strict adherence to the same.

Related articles:

  1. What are CFT and FATF in banking?
  2. What are the RBI norms for periodical updating of KYC?

  3. What are core components of KYC/AML guidelines?

  4. KYC documents for current accounts of all varieties

  5. How to open bank accounts under e-KYC process?

  6. What are the valid address proof documents for KYC?

  7. What is relaxed KYC norm for proprietary concerns?

  8. KYC/AML guidelines for opening bank account made simple

  9. What is Central KYC Records Registry (CKYCR)?



No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *


Latest Tweets

error: Content is protected !!