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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 issued by Election Commission of India
  4. Driving License with photograph
  5. Job Card issued by NREGA duly signed by an officer of the state Govt.
  6. UIDAI Card (Adhar Card)

  7. For Low risk customers only
  8. ID card with applicants photograph issued by Central/State Government Depts, Statutory/Regulatory Authorities, Public sector Undertakings, Scheduled commercial Banks and Public Finance Institutions.
  9. Other Photo ID issued by a Gazetted officer with duly attested photograph of the person.
For Address
(Post Box Number will not be accepted)
  1. Passport
  2. Voter’s Identity Card
  3. Driving Licence
  4. Job card issued by NREGA duly signed by an officer of the State Govt.
  5. Aadhar Card/Letter issued by Unique Identification Authority of India(UIDAI) containing details of name, address and Aadhar number or any document as notified by the Central Government in consultation with the Regulator.
  6.  In case the proof of address furnished by the customer is not the local address or address where the customer is currently residing the bank may take a declaration of local address to which all the correspondence will be made by the bank with the customer. No proof is require to be submitted for such address for correspondence/local address
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.
  11. Importer/Exporter code (IEC) issued by the Office of The DGFT.
  • 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/LLP
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. Partnership Deed.
  4. Designated Partner Identification Number (only for LLP)
  5. An officially valid document in respect of the person holding an attorney to transact on its behalf.
  • Any of the documents for identity of each of the authorized partners (As applicable 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. A resolution from the Board of Directors and power of Attorney granted to its managers, officers or employees to transact on its behalf.
  5. An officially valid document in respect of managers, officers or employees holding an attorney to transact on its behalf.
  6. Copy of licence issued by Central Govt. (only for Sec.25 companies)
  • Recent passport size Photographs of directors/authorized officials.
Trusts and Foundations
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
  3. Settlers Declaration
  4. List of Trustees.
  5. Resolution of the managing committee of the trust for opening and operating of the account.
  6. An Officially valid Document in respect of the person holding a power of Attorney to transact on its behalf.
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. List of Managing Committee Members and their bio-data
  4. 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

Unincorporated Association or Body of Individuals (Association/Societies/clubs)
  1. Certificate of Registration (If registered)
  2. List of Managing Committee Members
  3. Bye laws of the Society.
  4. Resolution of the Managing Body of such association or body of individuals.
  5. Power of Attorney granted to him to transact on its behalf.
    An officially valid document in respect of the person holding a power of attorney to transact on its behalf.
  6. Such information as may be required by the Bank to collectively establish the legal existence of such an association or body of individuals.
  7. Resolution of the managing committee of the association for opening and operating the account.

"Officially valid documents" means i) The Passport ii) The Driving Licence iii) The permanent account number (PAN) card iv) The voter identity card issued by Election Commission of India v) Job card issued by NREGA duly signed by an officer of the State Government vi)The letter issued by the Unique Identification Authority of India containing details of name, address and vii) Aadhar number or any document as notified by the Central Government in consultation with the regulator. It is important that the proof of the address also follows from the above documents only.

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.

Simplified measures’ shall be applied in the case of ‘Low risk’ customers taking into consideration the type of customer, business relationship, nature and value of transactions based on the overall money laundering and terrorist financing risks involved. In respect of low risk category of customers, where simplified measures are applied, it would be sufficient to obtain any of the following documents for the purpose of proof of identity and proof of address.

i)   Identity card with applicant’s Photograph issued by Central/State Government Departments, statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;

ii) Letter issued by a gazetted officer, with a duly attested photograph of the person

Relaxation of KYC in Small Savings Bank Deposit Accounts:

Those persons who do not have any of the officially valid documents can open small accounts with banks. A small account can be opened on the basis of a self attested photograph and putting her/his signature or thumb print in the presence of an official of the bank. Such accounts have limitations regarding the aggregate credits (not more than Rs.1.00 lac in a year), aggregate withdrawals (not more than Rs.10000/- in a month) and balance in the account (not more than Rs.50000/- at any point in time). These small accounts would be valid normally for a period of 12 months. Thereafter, such accounts would be allowed to continue for a further period of 12 months. If the account holder provides a document showing that he/she has applied for any of the officially valid document, within twelve months of opening the small account.

 

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