Question

Which of the following documents is/are considered as officially valid document to satisfy KYC norms for opening a bank account?
A. Passport
B. PAN
C. Aadhar number issued by Unique Identification Authority of India

• A. Only (A)
• B. Only (B)
• C. Only (A) and (B)
• D. All (A), (B) and (C)

Answer 1

The correct option is D All (A), (B) and (C)

Know Your Customer (KYC) is a requirement to be followed by various financial institutions in order to verify the identity and other details of their customer. Following documents are considered as officially valid to satisfy KYC norms for opening a bank account for individuals:
For identity purpose:
(i) Passport (ii) PAN card (iii) Voter's identity card (iv) Driving licence (v) Identity card (subject to the bank's satisfaction) (vi) Letter from a recognised public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank.
Verification of permanent address:
(i) Telephone bill (ii) Bank account statement (iii) Letter from any recognised public authority (iv) Electricity bill (v) Ration card (vi) Letter from employer (subject to satisfaction of the bank).
Any one document for each identity and address proof is required for the completion of KYC.