Know Your Customer – KYC enables banks to know / understand their customers and their

financial dealings to be able to serve them better and prudently manage the risks of Money
Laundering and Financing of Terrorism.
To establish the identity of the client. This means identifying the customer and verifying his/her
identity by using reliable, independent source/ documents/ data or information.
For individuals, Bank will obtain identification data to verify the identity of the customer,
his/her address/location and also his/her recent photograph. This will be done for the joint
holders and mandate holders, as well.
For non-individuals, Bank will obtain identification data to
 verify the legal status of the legal person/entity
 verify identity of the authorized signatories and
 verify identity of the Beneficial owners/controllers of the account
 To ensure that sufficient information is obtained on the nature of employment/business
that the customer does/expects to undertake and the purpose of the account
The compliance of KYC norms will be carried out at the following stages:
 Opening of a new account.
 Opening of a subsequent account where documents as per current KYC standards have not
been submitted while opening the initial account.
 Opening of a Locker Account where these documents are not available with the bank for all
the Locker facility holders.
 When the bank feels it necessary to obtain additional information from existing customers
based on the conduct of the account.
 When there are changes of signatories, mandate holders, beneficial owners etc.
 At the time of review of Account.
The compliance of KYC norms will also be carried out in respect of non-account holders
approaching the bank for high value one-off transactions
List of Valid Documents
 Passport
 PAN Card
 Voters Identity Card
 Driving License
 Photo Credit Card
 Identity Card (subject to Bank’s satisfaction)
 Letter from a recognized public authority or public servant verifying the identity and residence
of the customer (subject to the Bank’s satisfaction.)
 IEC (Importer/Exporter Code) issued to the proprietary concern by the office of DGFT
 Proof of address
 Telephone Bill
 Bank Account Statement
 Electricity Bill
 Passport
 Driving –License
 Latest Utility Bill
 Credit Card Statement
 Employer’s/Public authority’s Letter with address (subject to Bank’s satisfaction)
 Date of birth certificate in case of minor account opened individually or jointly with
other Individual
Accounts of companies
Name of the company
Principal place of business
Correspondence Address and Contact address
 Certificate of incorporation and Memorandum & Article of Association
 Resolution of the Board of Directors to open an account and identification of
authorized persons to operate the account
 Power of Attorney granted to transact business on its behalf
 Copy of PAN numbers
 Copy of telephone bill.

Accounts of Partnership Firms

Legal Name
Address
Name and all partners and their addresses
Contact Numbers of the firm and partners

 Registration Certificate, if registered

 Partnership Deed
 Power of Attorney granted to a partner or an employee of the firm to transact business on its
behalf
 Telephone bill of firm/partners
Accounts of trusts and foundations
Name of trustees, settlors and beneficiaries

 Certificate of registration , if registered

 Power of Attorney granted to transact business on its behalf
 Any officially valid document for identification and proof of address
 Resolution of the managing body of the foundation / association
 Telephone Bill