Thursday, August 14, 2014

Ease KYC norms

........... I have been asked to call on the bank branch with original of proof of identity and address and a copy of a recent passport size photograph for the bank’s record, failing which the bank will be compelled to close my account. No new set of documents is demanded for 20 years in case of driving licence and for 10 years in case of a passport My bank has asked for a new set of documents within 6 months. RBI should specify a period, say 10 years, for updating of KYC information.

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