What is KYC Bank Accounts? Documents list with Full Foam Meaning.

Recently we are more hear the word KYC bank accounts: After demonetization in India, why kyc is important? KYC Bank accounts are became more valuable for any banking company. Also, Govt. already take action for connect your bank account with aadhar card. And now they are plan to link pan car with your adhar card for more transparency in banking systems. Learn more about linking of pancard with aadhar here!  But, How many of us actually know the Full foam of KYC? or kyc documents full form? So, There are many things related to this term KYC Bank Accounts and Meaning of KYC. We are see step by step information about kyc documents with kyc full form and kyc meaning in Hindi.

List of Documents for KYC Bank Accounts:

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Let’s get as much as possible detail about KYC India.

Why kyc is Important?

There are certain reasons for this term KYC. Know your customer (KYC) policy is an important step developed globally to prevent identity theft, financial fraud, money laundering and terrorist financing.

The objective of KYC is to enable banks to know and understand their customers better and help them manage their risks prudently.

This KYC system work efficiently based on KYC Documents righteous use.

KYC Full Form or KYC Means:

In simple word, if you explain KYC full form: KYC means “Know Your Customer”. It is a process by which banks obtain information about the identity and address of the customers.

This process helps to ensure that banks’ services are not misused. The KYC procedure is to be completed by the banks while opening accounts.

What is KYC meaning in Hindi?

सरल शब्दों में, यदि आप केवाईसी पूर्ण रूप की व्याख्या: केवाईसी का अर्थ है “अपने ग्राहक को जानिए ‘। यह एक प्रक्रिया है जिसके द्वारा बैंकों पहचान और ग्राहकों के पते के बारे में जानकारी प्राप्त करने के लिए है।

इस प्रक्रिया को सुनिश्चित करना है कि बैंकों की सेवाओं का दुरुपयोग नहीं कर रहे हैं मदद करता है। केवाईसी प्रक्रिया है, जबकि खाते खोलने के लिए बैंकों द्वारा पूरा किया जाना है।

Saral shabdon mein, yadi aap kevaeesee poorn roop kee vyaakhya: kevaeesee ka arth hai “apane graahak ko jaanie . yah ek prakriya hai jisake dvaara bainkon pahachaan aur graahakon ke pate ke baare mein jaanakaaree praapt karane ke lie hai.

Is prakriya ko sunishchit karana hai ki bainkon kee sevaon ka durupayog nahin kar rahe hain madad karata hai. kevaeesee prakriya hai, jabaki khaate kholane ke lie bainkon dvaara poora kiya jaana hai.

What are the KYC Documents List?

KYC norms says, if you are only open kyc bank account after submitting particular documents related to your identity. This are call kyc documents list. So, Bellow are the List of KYC Documents.

S.No. KYC Documents for Salaried or Individuals.

1. Identity and Residence proof of all applicants:

Copy of Valid Passport.

Voter’s ID.

Valid Driving license.

Ration Card (For Ration card without photo, a separate bank signature verification is essential.)

Employer’s issued Photo ID + Letter Or Documents 4 and 5.

2. Age proof of all applicants:

  • Copy of Valid Passport.
  • Valid Driving licence.
  • PAN Card.
  • Birth certificate.
  • School leaving certificate.
  • Voters ID Card.

3. Residence proof of all applicants:

Copy of Latest Telephone bill.

Latest Electricity bill.

Valid Registered Rental Agreement.

Pan Intimation Letter.

Medical Insurance Policy.

Latest bank statements received by customer by post (Not of co-operative bank and approved by L&C)

Voter’s ID

Driving License.

Ration Card- same condition as Identity proof.

Valid Passport.

Credit card statements.

RV report.

Employer’s issued Photo ID + Letter.

4. Signature Verification proof of applicant:

Copy of Valid Passport, Valid Driving Licence, Copy of Pan Card Or IPC
cheque of > INR 10,000/-

Additional KYC Documents for NRI/ Mariner.

5. Notarized GPOA.

6. Copy of CDC and Mariner Declaration (for Mariner.)

7. Indian Passport, Overseas Employment card issued by the government in country of employment (for NRIs only.)

8. Foreign passport/ National ID card/ Overseas Driver’s License/ Social security card. ( For PIO)

Additional KYC Documents for Pvt. Ltd. Companies.

5. Office address proof – Copy of latest Utility bill / Valid Registered Rental or Lease Agreement along with Utility Bill in the name of Landlord / Current A/c statement for last 6 months.

6.

  • Shop and Establishment Certificate.
  • Sales Tax Registration Certificate.
  • Factory Registration Certificate.
  • SEBI Registration Certificate.
  • Form 18 & ROC Receipt.

7. Copy of MoA/AoA and True Copy of Certificate of Incorporation, Form 32 or Annual return copy with ROC.

8. KYC documents ( No. 3, 4, 5) of all shareholders with more than 20% individual share in Company.

Additional KYC Documents for Partnership firms.

5. Office address proof – Copy of latest Utility bill / Valid Registered Rental or Lease Agreement along with Utility Bill in the name of Landlord / Current A/c statement for last 6 months.

6. Shop and Establishment Certificate / Sales Tax Registration Certificate / Factory Registration Certificate / SEBI.

Registration Certificate / Utility Bill in name of firm or landlord with a lease agreement (only to be used as a 2nd address proof or operating address proof for non face to face or as a Operating address proof in face to face.)

7. KYC documents ( No. 3 or 4, 5) of all partners with more than 20% individual share in Firm.

Additional KYC Documents for Proprietorship Firm.

5. Office address proof – Copy of latest Utility bill / Valid Registered Rental or Lease Agreement alongwith Utility Bill in the name of Landlord / Current A/c statement for last 6 months.

6. Shop and Establishment Certificate / Sales Tax Registration Certificate / Factory Registration Certificate / SEBI Registration Certificate.

Ref: 1,

Know more about Indian Banking Systems.

So, Friends these are the basic kyc documents for saving or current kyc bank accounts opening in any banks. But, there are some different kyc norms for kyc requirements for trusts and kyc documents for sole proprietorship.