The Reserve Bank of India vides its Notification No RBI/2013-14/634 DBOD.AML.BC. No. 119/14.01.001/2013-14 dtd 9th June 2014 has further simplified the KYC norms for opening/maintenance of bank accounts.
As per this circular, the simplified requirement is as follows :-
1) Any one Address Proof (either Permenant or Present) is required to be submitted. When there is a change in the submitted address, a new document for supporting the same shall be submitted within 6 months.
2) In case the address proof furnished by account holder is not a local address, an additional declaration shall be given by the account holder for the genuinity of such address. The address may be verified by bank through the prescribed procedure.
The relevant notification in this regard is reproduced below :-
[gview file=”http://bssridhar.com/blog/wp-content/uploads/2014/06/CA090614FCN.pdf”]
Source :-www.rbi.org.in