RBI KYC guide lines

rbi

KYC

Know Your Customer

Proofs

Address and Identity Proof

Documents

six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card, Aadhaar Card issued by UIDAI and NREGA Job Card

Small Account

Does not exceed 50000

  • Total Credit less than 10000 in an year
  • total withdrawal and transfers in a month should not exceed Rs.10,000
  • Foreign remittances cannot be credited to such accounts.
  • banks are required to classify their customers into ‘low’, ‘medium’ and ‘high’ risk categories
  • PAN number needs to be quoted for transactions such as account opening, transactions above Rs.50,000
  • KYC exercise is necessary for Credit/ Smart Cards and also in respect of add-on/ supplementary cards

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