‘Aadhaar only an identity proof, not address proof’

.....There has been confusion among banks over accepting Aadhaar as the sole “know-your-customer” (KYC) proof. The Reserve Bank of India (RBI), in a notification, had also insisted that the banks satisfy themselves that the address contained in Aadhaar is correct. “As per RBI guidelines, Aadhaar is enough for meeting know-your-customer requirements for no-frill accounts. But for large accounts, an address proof is also required along with Aadhaar,” Mittal told reporters after a meeting between finance minister P.Chidambaram and the chief ministers of six northern states.......

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