Format for KYC

(For any further details please refer to the Bank’s Policy & Procedural Guidelines on Know Your Customer, Anti Money Laundering and Combating of Financing of Terrorism available on the portal of the bank...)

No

KYC related value statement

(i).

FOR CUSTOMERS THAT ARE NATURAL PERSONS

A

Address/ location detail (any one of the items listed in Item ‘a’ of Annexure B)

B

Proof of identity obtained as per Bank’s norms (any one of the items listed in Item ‘b’ of Annexure B)

C

Recent photograph obtained. Customer identification data including photographs are updated once in 5 years for low risk customers and once in 2 years for high/ medium risk customers

D

Accounts of Minors:

  • If a minor is less than 10 years of age, ID proof of the person who will operate the account has been obtained.
  • In cases where minor can operate the account independently, KYC procedure for identification/ address verification of the minor has been completed

(ii)

FOR CUSTOMERS OTHER THAN NATURAL PERSONS

A

Trust/Nominee Or Fiduciary Accounts

  • Pan card of the Trust
  • A copy of the Resolution,
  • Trust deed,
  • A copy of registration certificate,
  • Power of Attorney granted to transact business on its behalf (wherever applicable),
  • Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Attorney.
  • Identity of intermediaries and the persons on whose behalf they are acting, has been verified
  • Details of the nature of the trust or other arrangements in place, identity of the trustees and the settlers of trust (including any person settling assets into the trust), grantors, protectors, beneficiaries and signatories.
  • Beneficiaries are identified when they are defined
  • In the case of a ‘foundation’, founder managers/directors and the beneficiaries, are verified, if defined

B

Accounts Of Companies And Firms

  • Pan card of the Company
  • Memorandum and Articles of Association
  • Certificate of Incorporation,
  • Certificate of commencement of business (wherever applicable),
  • A copy of the resolution of the Board of Directors for opening of the Account, and
  • Identification of those who have authority to operate the account (Directors, partners, trustees, shareholders or as significant owners (> 20%))
  • Details of registration of companies are verified through company master data from Ministry of Corporate Affairs, Govt. of India website www.mca.gov.in (MCA –21) wherever available, in addition to verification of copies of KYC documents from the originals thereof.

 

 

C

Societies/Associations/Clubs :

  • Resolution for opening of the account
  • A copy of Bye-laws
  • Copy of Certificate of Registration in the case of Registered Clubs Societies and Associations.
  • Proof of Identification of the office bearers who are opening and operating the account.

D

Partnership Firms :

  • Partnership deed
  • Partnership letter
  • Introduction from a person known to the Bank
  • Registration Certificate (in case of registered firms)
  • Any officially valid document identifying the partners and the persons having Power Of Attorney and their addresses
  • Telephone bill, in the name of firms/partners

E

Hindu Undivided Family (HUF):
• Declaration from the Karta.
• Proof of Identification of Karta.
• Prescribed Joint Hindu Family Letter signed by all the adult coparceners.

F

Proprietorship Firms

  • Pan card of the proprietor.
  • Any two from Gumastadhara cert./SSI registration/ CST-Sales Tax-VAT-Service Tax registration/IT Return

G

Executors, administrators and liquidators

  • Probate or letter of administration or authority under the Companies Act dated….(for inspection, entry in miscellaneous documents register and return). A copy of the same is retained.
  • In case of more than one executors/administrators/liquidators are appointed, letter of authority signed by all of them regulating the conduct of the account, must be obtained.
  • Executors/administrators/liquidators can not normally delegate their powers to third aprty.

2

  • No account is opened in anonymous or fictitious/ benami name(s)/ entity(ies). (proof of identity, duly verified by an authorized official of the Bank at the time of opening the account to be tallied with the name of the account holder)

3

  • Undelivered envelopes of thanks letters/ other correspondence are followed-up closely at branch level and proper noting is to be made in the formalities register at the branches. Copies of letters are to be kept on record.

4

All accounts opened after 01.04.2006 are KYC compliant

5

KYC compliance formalities have been completed for all existing accounts opened before 31.03.2006. In branches where it is not yet completed, there is proper reporting about the status of KYC compliance to the controllers

6

Accounts where KYC compliance has not been possible due to non-furnishing of information and/ or non-cooperation by the customer are closed after giving notice to the customer.