Know Your Customer (KYC) Relaxation

Measures taken for simplification:

• Single document for proof of identity and proof of address
• No separate proof of address is required for current address customers can submit only one roof of address (either current or permanent) while opening a bank account or while undergoing periodic updation.
• No separate KYC documentation is required while transferring accounts from one branch to another of the same bank

Small 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.