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All-India Toll Free number1800 22 22 44 All-India Toll Free number for PMJDY Scheme1800 22 22 43
Dedicated Number for NRI+918025302510
KYC
Know Your Customer
FeaturesFAQs
 

Who is a customer of the Bank?
For the purpose of KYC Policy, a “Customer" is defined as:

  • A person or entity that maintains an account and/ or has a business relationship with the Bank;
  • One on whose behalf the account is maintained (i.e. the beneficial owner);
  • Beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered Accountants, Solicitors, etc. as permitted under the law, and
  • Any person or entity connected with a financial transaction, which can pose significant reputation or other risks to the Bank, say, a wire transfer or issue of a high value demand draft as a single transaction.

The Bank before establishing any banking relationship will carry out due diligence as required under "Know Your Customer" (KYC) guidelines issued by the Reserve Bank of India (RBI) and or such other norms or procedures adopted by the Bank.

What is Due Diligence?
The due diligence process that the Bank follows, includes obtaining your recent photographs, verifying your identity, verifying your address, and other information on your occupation or business and source of funds. As part of the due diligence process the Bank may also require an introduction from a person acceptable to the Bank if they so deem necessary.

Proof of identity

List of documents to be obtained from different types of customers
Type of customers Documents to be obtained
Individuals
For Identification
  1. Passport
  2. PAN card
  3. Voter’s identity Card
  4. Driving License with photograph
  5. Identity card/ letter from employer with photo attested (subject to the satisfaction of branch official authorized to open account)
  6. Letter from a recognized public authority verifying the identity (subject to the satisfaction of branch official authorized to open account).
For Address
(Post Box Number will not be accepted)
  1. Passport
  2. Voter’s Identity Card
  3. Driving Licence
  4. Telephone bill
  5. bank account statement
  6. letter from any recognized public authority
  7. Electricity bill
  8. Ration Card
  9. Letter from employer, subject to the satisfaction of the branch official authorized to open account).

(any one document, which provides identification and address to the satisfaction of the branch, will suffice. Where the current address given by the customer differs from the address given in the document, the branch may establish the address to its satisfaction).

Joint Individuals

As mentioned above for individuals for each of the joint individuals.

Non Resident Indians-Individuals

Copies of Passport and Residence Visa, a valid document indicating foreign residential address and passport size photographs of the applicant. The applicant is to be duly introduced by Banker/ Notary Public/ Indian Embassy/ Local customer who has been subjected to full KYC Procedure.

Proprietary concern
For Identity of the concern,its activities, address.

Prescribed Proprietary Declaration Letterand any two of the following:Shop and Establishment

  1. Registration Certificate (in case of a registered concern)
  2. Certificate/ licence issued by Municipal Authorities under Shop & Establishment Act or any other similar documents indicating the activities of the concern.
  3. Sales and Income Tax Returns
  4. CST/VAT Certificate
  5. Certificate/ Registration document issued by Sale tax/ Service Tax/ Professional Tax authorities.
  6. License issued by Institute of Chartered Accountants of India,
  7. Institute of Cost Accountants of India,
  8. Institute of Company Secretaries of India,
  9. Indian Medical Council,
  10. Food and Drug Control Authorities, etc.
  • Any of the documents for identity of the proprietor (as given above for individuals) and his addresses, Telephone/Utility Bill in the name of the concern if any.
  • Recent passport size Photographs of the proprietor.
Hindu Undivided family
For Identity of the HUF, its activities, address and authority for opening and operation of its account(s)
For identity of the Karta and major co-parceners of the HUF who are authorized to operate the account(s) and their addresses.

Prescribed Joint Hindu Family Letter signed by all the major Co-parceners. Declaration form from the Karta.

  1. Any of the documents for identity of each of the Karta and each of the major coparceners (as given above for individuals) and their addresses
  2. Recent Passport size Photographs of all such persons.
Partnership Firms
For Identity of the Firm, its activities, address and authority delegated for opening and operation of its account(s).
For identity of the partners who are authorized to operate the accounts(s) and their addresses
  1. Registration Certificate, if registered
  2. Partnership Declaration
  3. Telephone/ Utility Bill in the name of the firm
  • Any of the documents for identity of each of the authorized partners (as given above for individuals) and their addresses
  • Recent passport size Photographs of all the partners.
Companies/ Corporations
For identity of the Company/Corporation,its activities,address and authority delegated for opening and operation of its account(s).
For identity of the directors/ officials of the company/ corporation who are authorized to operate the account and their addresses.
  1. Certification of Incorporation
  2. Memorandum and Articles of Association
  3. Current list of directors with their bio-data
  4. Telephone/ Utility Bill in the name of the company/corporation
  5. Resolution of the Board of Directors or Power of Attorney issued for opening of the account and delegating powers to operate the account(s) of the company/corporation
  • Any of the documents for identity of each the directors/ authorized officials (as given above for individuals) and their addresses
  • Recent passport size Photographs of directors/authorized officials.
Trusts
For Identity of the Trust, its activities, address and authority delegated for opening and operation of its account(s).
For identity of the trustees who are authorized to operated the accounts of the Trust and their addresses.
  1. Certificate of Registration,
  2. Trust Deed/ Settlers Declaration
  3. Telephone/Utility Bill in the name of the Trust
  4. List of Trustees and their bio-data (v) Resolution of the Managing committee of the Trust for opening of the account and delegating powers to operate the accounts of the Trust. Any of the documents for identity of each settler/ founder/ trustee/ manager/ director/ power of attorney holder/ beneficiary (as given above for individuals) and their addresses Recent passport size Photographs of all such persons.
Societies, Associations NGOs, Clubs, and other organizations

For Identity of the organization, its activities, address and authority delegated for opening and operation of its account(s).

For identity of the Managing Committee Members who are authorized to operate the accounts of the organization and their addresses.

  1. Certificate of Registration, if registered,
  2. Bye laws
  3. Telephone/Utility Bill in the name of the organization
  4. List of Managing Committee Members and their bio-data
  5. Resolution of the Managing Committee of the Organization for opening of the account and delegating powers to operate the accounts of the organization.
  • Any of the documents for identity of each the authorized Managing committee Members (as given above for individuals) and their addresses
  • Recent passport size Photographs of all such members.
Local Bodies/Government Departments etc.
For Identity of the applicant, its activities, address and authority delegated for opening and operation of its account(s).

Notification/Resolution/Letter of Permission for opening and delegation of authority to operate the account

Where a customer is permitted to act on behalf of another person/entity in conformity with the established law and practice of banking as there could be occasions when an account is operated by a mandate holder or where an account is opened by an intermediary in fiduciary capacity, in such cases KYC checks shall be performed on the beneficial owners or mandate holder also, as the case may be.

In case of opening of account in the name of minor, KYC procedure on guardian shall be performed. Minor, on becoming major, shall be allowed to operate the account on completing KYC procedure.

Relaxation of KYC in Small Deposit (No Frills) Accounts:

Small Deposit Accounts

Customers who intend to maintain balances not exceeding Rs. 50,000/- (Rupees Fifty Thousand only) in all their accounts taken together and the total credit summation in all the accounts taken together is not expected to exceed Rs.1,00,000/- (Rupees One Lac only) in a year and are not in position to submit the above mentioned documents are provided relaxation.

Relaxation in KYC norms

  • No Frills accounts can be opened by taking introduction from another account holder who has been subjected to full KYC procedure. The introducer’s account with the bank should be KYC compliant, at least six months old and should show satisfactory transactions. Photograph of the customer who proposes to open the account and also his address needs to be certified by the introducer.
  • Any other evidence as to the identity and address of the customer to the satisfaction of the bank.

However, if at any point of time, the balances in the accounts of such customers with the Bank (taken together) and the total credit summation exceed the above threshold, no further transactions will be permitted until full KYC procedures are completed.

 

 
 
I am a contractor and maintain Current Account with your Branch since the Branch was opened.
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