Anti Money Laundring and Kyc Master Circular PDF

आईडीबीआई बैंक/ 2017-18/01 / बीओएसऩीडी/ बीओएसऩीडी/01 1 अप्रैऱ 2017
वर्टि करों/ववबागों/ जेएनआईफीएप के प्रबायी

ऺेत्रीम प्रभख
ु तथा शाखा प्रभख
ु
आईडीफीआई फैंक लर.
वप्रम भहोदम/ भहोदमा
अऩने ग्राहक को जाननए (केवाईसी) तथा

धनशोधन ननवारक (एएमएऱ) उऩायों ऩर मास्टर ऩररऩत्र
ववश्व बय के फैंक बावी ग्राहक के साथ रयश्ते की शरु

ु आत कयते सभम तथा इस रयश्ते की सॊऩण
ू ि
अवधध के दौयान सॊबाववत, ननमाभक, प्रनतष्ठा, ऩरयचारन, ववधधक औय ववत्तीम जोखखभ के प्रनत सयु ऺा
सनु नश्श्चत कयने के लरए उऩमक्
ु त ननमॊत्रण के भहत्व को तेजी से ऩहचान यहे हैं. इस अत्मधधक भहत्वऩण
ू ि
ऺेत्र भें दे श औय ववदे श दोनों भें फैंकों के लरए अॊतयािष्रीम ऩद्धनत का अनऩ
ु ारन अननवामि फनाने वारे
ववलबन्न अॊतयािष्रीम तथा दे शी ववननमाभकों के कायण इसे औय अधधक भहत्व लभरा है . इसके अनतरयक्त,
ू ों को सहमोग प्रदान कयने के कायण, धन
अवाॊनित गनतववधधमों औय असाभाश्जक व्मश्क्तमों के सभह
शोधन, सभच
ू े ववश्व के लरए एक गॊबीय सभस्मा फन गमा है, महाॊ तक कक मह अथिव्मवस्थाओॊ की
श्स्थयता के लरए बी मह एक खतया है .
बायतीम रयज़वि फैंक (आयफीआई) धन शोधन ननवायक (एएभएर) भानकों औय आतॊकवाद के
ववत्तऩोषण (सीएपटी) का साभना कयने के लरए ववत्तीम कायि वाई कामिफर (एपएटीएप) द्वाया की गई
सॊस्तनु तमों के सॊदबि भें केवाईसी र्दशाननदे शों भें ननयॊ तय सॊशोधन कयता यहा है . इन सॊस्तनु तमों तथा रॊफे
ु वों के आधाय ऩय रयज़वि फैंक ने फैंकों को सधू चत ककमा है कक उनके ऩास ग्राहक स्वीकृनत,
सभम के अनब
ऩहचान, सॊर्दग्ध प्रकृनत के रेन-दे न की ननगयानी औय जोखखभ प्रफॊधन के लरए एक व्माऩक प्रकिमा होनी
चार्हए. केवाईसी – एएभएर र्दशाननदे शों का भख्
ु म रक्ष्म फैंकों का आऩयाधधक तत्वों द्वाया जानफझ
ू कय
मा अनजाने भें, धनशोधन किमाकराऩों के लरए उऩमोग होने से फचाना है .
मह भास्टय ऩरयऩत्र, केवाईसी औय एएभएर के सॊफध
ॊ भें अबी तक जायी ऩररशशष्ट XI भें
उश्लरखखत ववलबन्न ऩरयऩत्रों भें ननर्दि ष्ट अनद
ु े शों का सभेकन है . ऩररशशष्ट XI भें सच
ू ीफद्ध ऩरयऩत्रों भें जायी
अनद
ु े श तथा अन्म ऩरयऩत्र जो इस ऩरयलशष्ट भें सश्मभलरत नहीॊ हैं, आगे बी रागू यहें गे.
साॊववधधक प्राधधकयणों / बायत सयकाय / आयफीआई / अन्म ववननमाभकों द्वाया सभम-सभम ऩय
जायी अनद
ु े श इस भास्टय ऩरयऩत्र भें ननर्दिष्ट अनद
ु े शों से बी कहीॊ अधधक भहत्वऩण
ू ि यहें गे.
कृऩमा इस ऩरयऩत्र की ववषमवस्तु से सबी स्टाप सदस्मों को अनऩ
ु ारन हे तु अवगत कयाएॊ.
IDBI BANK/2017-18/1/BOSPD/BOSPD/1 April 1, 2017
To
In charges of Verticals / Departments
Regional and Branch Heads/ JNIBF
IDBI Bank Ltd.
Dear Sir / Madam
Master circular on Know Your Customer (KYC) and

Anti-Money Laundering (AML) Measures
Banks around the world are increasingly recognizing the importance of

appropriate controls while entering into a relationship with a prospective client /
customer and during the course of the entire relationship to ensure protection against
possible regulatory, reputation, operational, legal and financial risks. This has assumed
more importance in the light of various International and domestic regulations which
make it compulsory for the banks to comply with international practices in this highly
important area. Besides this, Money Laundering, by supporting undesirable activities
and group of people, has also become a serious problem worldwide, even threatening
the stability of economies.
Reserve Bank of India (RBI) has been regularly revisiting KYC guidelines in the
context of the recommendations made by the Financial Action Task Force (FATF) on
Anti Money Laundering (AML) standards and on Combating Financing of Terrorism
(CFT). Based on these recommendations and the experience, RBI has advised banks to
have a comprehensive procedure for customer acceptance, identification, monitoring
transactions of a suspicious nature and risk management. The main objective of the
KYC – AML guidelines is to prevent banks from being used, intentionally or
unintentionally, by criminal elements for money laundering activities.
This Master Circular is a compilation of the instructions contained in various

circulars issued till date as given in the Appendix XI to the extent they deal with KYC
and AML. The instructions issued in the circulars listed in Appendix XI and other circulars
not specifically included in this circular would continue to prevail.
Master Circular on Know Your Customer (KYC) and Anti Money Laundering (AML)
Instructions issued by Statutory Authorities / Government of India / RBI / other

Regulators from time to time shall have pre-eminence over the instructions contained in
this Master Circular.
The contents of the Circular may be brought to the notice of all the staff
members for strict compliance.
Table of Contents
Chapter Para Page
Particulars
No No No
I Introduction 1
II Know Your Customer (KYC) 2
1. Customer Acceptance Policy (CAP) 2
2. Customer Identification Procedure (CIP) 4
2.1-2.8 Details about Customer Identification 4-7
2.9 Checklist for ISA documents 7-8
2.10 KYC Awareness Poster and Booklet 8
2.11 Documentation for Individual Accounts 8
2.12 Documentation for Staff Accounts 10
2.13 Documentation for Minor Account (operated by Guardian) 10
2.14 Documentation for Minor Account (Self Operated) 11
2.15 Documentation for Minor Becoming Major 11
2.16 Documentation for Illiterate Accounts 12
2.17 Documentation for Senior Citizen Account 12
2.18 Documentation for Accounts of Visually Impaired Persons 13
2.19 Documentation for Corporate Payroll Account 13
Documentation for Persons with autism, cerebral palsy, mental
2.20 14
retardation and multiple disabilities
2.21 Documentation for NRI Accounts opened through Branches 14
Documentation for accounts opened through insta online (Internet)
2.22 16
and documents sent through mail
Documentation for Acceptance of Self Attested documents for
2.23 16
opening account from overseas locations
Documentation for foreign nationals who come to the country for
2.24 17
studies
Documentation for foreign nationals who come to the country for
2.25 18
Employment
2.26 Documentation for HUF Accounts 19
II
Documentation for TASC (Trust, Associations, Societies and Clubs)

19
2.27.1 Registered Trusts
19
2.27 2.27.2 Unregistered Trust
20
2.27.3 Registered Association, Societies and Clubs
20
2.27.4 Unregistered Association, Societies and Clubs
2.28 Documentation for Self Help Groups (SHGs) 21
2.29 Documentation for Sole Proprietorship Accounts 21
2.30 Documentation for Partnership Accounts 24
2.31 Documentation for Private Limited and Public Limited Companies 26
2.32 Documentation for One Person Company 29
2.33 Documentation for Unincorporated Joint Ventures (UJV) Accounts 30
2.34 Documentation for Limited Liability Partnership (LLP) Accounts 32
Basic Savings Bank Deposit Account (BSBDA)
2.35 2.35.1 BSBDA - Full KYC Account 33
2.35.2 BSBDA - Small Account 33
2.36 Walk in customers 36
2.37 Documentation for Gift Cards (Prepaid Cards) and Travel Cards 36
2.38 Documentation for Banks‟ Accounts 36
2.39 Documentation for Government Accounts 37
2.40 Documentation for Mandate and POA Holders 38
2.41 Online Aadhaar Authentication Software e-KYC 38
2.42 Deviations /Approvals 39
2.43 Important Checks while opening accounts 40
2.44 FATCA and CRS 50

Account Portability (transfer of liability accounts from one branch to
2.45 52
another)
2.46 Processing of Miscellaneous Requests of Branches 53
3. Transaction Monitoring 58
4. Risk Management 61
5. Regular Updation of Customer Identification Data (CID) 62
III Obligations under prevention of Money Laundering Act (PMLA) 2002
1. Maintenance of Records of Transactions 65
2. Information to be preserved 67
3. Maintenance and preservation of records 67
4. Reporting to Financial Intelligence Unit – India 68
IV Suspension & Reactivation of Suspended Customer Ids 69
V Conclusion 70
III
List of Annexure
Page
Annexure No Particulars
No
I Customer Profile Format (Individuals) 71
II Customer Profile Format (Non Individuals) 72
III Self-Declaration by Senior Citizen 73
IV Accounts of Visually impaired Persons – Draft Undertaking 74
V Customer Declaration for Translation of Documents that are in Foreign Language 75
VI Branch Official Visit Report for Field Verification of Indian Address of NRI Client 76
VII Specimen of Resolution for Trust Accounts 77

VIII Branch Official Visit Report (BOVR) 78
Specimen of Resolution for Opening of Accounts of Clubs, Schools, Societies,
IX 79
Associations, Committees
X Specimen of Resolution for Opening Accounts of Self Help Group (SHG) 80
XI Specimen of Board Resolution for Opening of Accounts of Limited Companies 81
Questionnaire for Know Your Customer / Anti Money Laundering / Combating
XII 82
Financing of terrorism for Cooperative Banks
XIII Format of Letter to Cooperative Banks 85
XIV Mandate Letter 86
XV Format for Self Declaration for Local / Correspondence Address 87
XVI Vernacular Letter 88
Specimen of Declaration to be given by the close relative with whom the prospective
XVII 89
customer is staying
XVIII Declaration of Beneficial owner/s 90
XIX Declaration of Beneficial Owner(s) by the Branch 91
XX Account Opening Memorandum 92
XXI Miscellaneous Request Form 93
XXII Customer Information Updation Form for KYC 94
XXIII Specimen of Notice to be given to the Customers 95
List of Appendix
Page
Appendix No Particulars
No
I Beneficial Owner 96
II Risk Categorization of Customers 97
III List of Members of Financial Access Task Force (FATF) 99
IV Frequently Asked Questions-Basic Savings Bank Deposit Accounts Issued by RBI 100
V Process flow to be followed for e-KYC 105
VI Acceptance of e-Aadhaar for opening Account 106
Illustrative List of Questions that can be asked during tele-verification of prospective
VII 107
customer
VIII Indicative Alert Indicators while dealing with Prospective Customer(s) 108
IX Guide for Individual Accounts filling the respective FATCA/CRS Annexures 110
X Guide for Entity (non- individual) accounts filling the respective FATCA/CRS Annexures 113
XI List of Circulars consolidated in Master Circular 116
IV
CHAPTER - I
Introduction
A. Bank has put in place a Board approved policy on KYC norms and AML measures.
The policy is based on the guidelines issued by RBI. The policy is applicable across all
branches /business segments of the Bank, and is to be read in conjunction with
related operational guidelines issued by the Bank from time to time. The contents of
the policy shall always be read in tandem / stand auto-corrected with the changes
/ modifications as advised by RBI and Bank from time to time. The policy is hosted
on Intranet under the link Departments >> Branch Operations Support and Policy
Department>> Policies & Procedures >> Policy on KYC and AML. This master circular
is an attempt to present the guidelines and instructions contained in the policy in a
simpler and tabular form for easy understanding of branches.
B. The objectives of KYC & AML are –
1. To enable the Bank to know / understand its customers and their financial
dealings better and manage risk prudently.
2. To prevent the Bank from being used, intentionally or unintentionally, by
criminal elements for money laundering or terrorist financing activities;
3. To protect the Bank‟s reputation;
4. To prevent Bank‟s channels /products/services from being used as a channel
for money laundering;
5. To protect the Bank, its employees and customers from the menace of
money laundering or terrorist financing activities;
6. To adhere to KYC policies and procedures as advised by RBI;
7. To take appropriate action once suspicious activity is detected and report to
designated authorities in accordance with applicable laws / laid down
procedures and regulatory guidelines;
1
CHAPTER - II
Know Your Customer (KYC)
A. For the purpose of KYC, a „Customer‟ is defined as :
1. A person who is engaged in a financial transaction or activity with a reporting

entity and includes a person on whose behalf the person who is engaged in
the transaction or activity, is acting.
2. A „Beneficial Owner‟ (Appendix I) provides the description of how to
identify the BO)
3. Beneficiaries of transactions conducted by professional intermediaries, such
as Stock Brokers, Chartered Accountants, Solicitors etc. as permitted under
the law, and
4. Any person or entity connected with a financial transaction that can pose
significant reputation or other risks to the Bank, say, a wire transfer or issue of a
high value demand draft as a single transaction.
B. Following are the key elements to the KYC guidelines, which would help in
understanding the customers properly -
1. Customer Acceptance Policy (CAP);

2. Customer Identification Procedures (CIP);
3. Monitoring of Transactions;
4. Risk Management; and
5. Regular Updation of Customer Identification Data (CID)
1. Customer Acceptance Policy (CAP)

1.1 Bank cannot enter into relationship with any customer unless he / she fulfils the
criteria as elaborated below for acceptance as a customer. Customer Acceptance
basically means having knowledge and understanding about the clients, its owners,
managers and those responsible for its governance and business activities. It also
assumes greater importance as appropriate risk categorization needs to be worked out
for each customer based on the various parameters, so that proper due diligence can
be carried out while entering into relationship and during the course of relationship. It
has to be kept in mind that the guidelines are not meant for having discriminatory
2
approach to customers and it should be ensured that the customers shall not be put to
any harassment whatsoever either by its adoption or by its practice. It is important to
bear in mind that the adoption and practice of these criteria must not result in denial of
banking services to general public, especially to those, who are financially or socially
disadvantaged. By applying a Customer Acceptance Policy which is well-balanced,
caring, practical, and yet complying with regulatory requirements, the Bank seeks to
ensure the following:
a. No account shall be opened in an anonymous or fictitious / benami name.

b. No account shall be opened if Bank is unable to apply appropriate customer due
diligence measures i.e. Bank is unable to verify the identity and / or obtain
documents required as per the risk categorization due to non-cooperation of the
customer or non-reliability of the documents / Information furnished to the Bank.
Existing accounts where Bank is unable to apply appropriate customer due
diligence measures as above shall be closed (refer Para 5.6).
c. Before opening a new account, necessary checks shall be conducted so as to
ensure that the identity of the customer /entities/persons associated with the
entities does not match with any person with known criminal background or with
banned entities such as individual terrorists or terrorist organizations etc.
d. While carrying out due diligence it shall be ensured that there is no harassment to
the customer. Only relevant information shall be obtained from the customer for
the purpose of risk categorization at the time of account opening.
e. Risk perception of different types of customers taking into account the
background of the customer, nature of business activity, location of customer /
activity and profile of his / her clients, country of origin, sources of funds, mode of
payments, volume of turnover, social and financial status etc., needs to be
decided based on the information provided by the customer at the time of
account opening. Branches shall obtain the relevant information at the time of
opening of account about the customer to create a Customer Profile available in
Account Opening Form as per the format given in Annexure I meant for individual
and in Annexure II meant for non-individuals and categorize the customer into the
relevant risk category as given below:
3
Low Risk – Level 1

Medium Risk – Level 2
High Risk – Level 3
f. Along with the risk category, branches should also specify in the AOF / Customer
Profile Sheet, the Alpha Numeric Code as listed in Appendix II so that the same
can be captured in Finacle at the time of account opening. RPUs / RAOs should
capture in Finacle the Alpha Numeric Code of risk categorization of any customer
as furnished by the Branches / Verticals while opening the Customer ID.
g. The customer profile is a mandatory requirement and should accompany the

Account Opening Form (AOF). The Customer profile is a confidential document
and shall not be divulged to anyone outside the Bank.
h. The CAP exercise should also include acceptance of Beneficial Owner(BO), Power
of Attorney Holder (PAH), Mandate Holder (MH) etc., relating to the proposed
account and their details should be captured in Core Banking Software (CBS).
I. For all new customers, Branch Head shall verify the KYC and ensure that accounts
are monitored as per the guidelines of the Bank. Indian Banks‟ Association (IBA)
working group on Risk Based Transaction Monitoring has advised to 'Risk rate the
Products and Services' offered by the bank and map the same with the Customer
Risk. Accordingly, Bank has issued guidelines on the same providing indicative list of
high/medium risk products and services as recommended by IBA working group
and a Risk Rating Model to evaluate the risk rating of products and services that do
not fall under the said list. [Ref. circular no. IDBI Bank/ 2013-14/ 265/ RBG/CO/163 on
Risk rating of Products and Services from Money Laundering (ML)/ Terrorist Financing
(TF) angle dated August 01, 2013].
2. Customer Identification Procedure (CIP)
2.1 Traditionally banks have been identifying their customers through a system of
introduction. With the advent of technology and with the increasing movement of
banking population across geography there is a compulsion to migrate to a paper
based identification of clients while the traditional system of introduction still holds
good. Although Customer Acceptance criteria gives knowledge and understanding
4
about a customer, his / her identity has to be verified by using reliable, independent
source documents, data or information. Introduction shall not be sought while opening
accounts.
2.2 Sufficient information needs to be obtained to the satisfaction of the Bank, which
is necessary to establish, the identity of new customer, whether regular or occasional,
and the purpose of the intended nature of banking relationship. Satisfaction means to
be able to satisfy the Competent Authorities that due diligence was observed based on
the risk profile of the customer in compliance with extant guidelines in place. It is
important to understand that the CIP does not start and end at the point of application.
As per the risk profile of the customer as described in Customer Acceptance Policy,
appropriate Customer Due Diligence (CDD) measure has to be undertaken to collect
and verify information and positively and conclusively establish the identity of a
customer.
2.3 The CIP exercise should also include identification of BO, PAH, MH etc., relating
to the proposed account and their details should be captured in Core Banking
Software (CBS).
2.4 CIP needs to be carried out in the following cases: -

a. Commencement of an account-based relationship with the
customer
b. Carrying out any international money transfer operations for a
person who is not an account holder of the bank.
c. When there is a doubt about the authenticity or adequacy of the
customer identification data obtained.
d. Selling third party products as agents, selling their own products,
payment of dues of credit cards/sale and reloading of
prepaid/travel cards and any other products for more than
Rs.50,000/-.
e. Carrying out transactions for a non-account based customer, that is
a walk-in-customer, where the amount involved is equal to or
5
exceeds Rs.50,000/- , whether conducted as a single transaction or

several transactions that appear to be connected.
f. When bank has reason to believe that a customer (account-based
or walk-in) is intentionally structuring a transaction into a series of
transactions below the threshold of Rs.50,000/-
2.5 For customers that are natural persons, sufficient identification data shall be
obtained to verify -
a. The identity of the customer,
b. His / her address / location
c. His / her recent photograph and
d. Document/s for verifying signature. In case no document is available for
verification of the signature, Branch Head shall obtain the signature of the
customer in his / her presence.
2.6 For customers that are legal persons or entities –
a. Legal status of the legal person / entity through proper and relevant
documents shall be verified;
b. It shall be verified that any person purporting to act on behalf of the legal
person / entity is so authorized and identify and verify the identity of that
person;
c. The ownership and control structure of the customer shall be understood so
as to determine who are the natural persons who ultimately control the legal
person.
2.7 While opening the account of the customer or during periodic updation, Bank
shall seek „mandatory‟ information required for KYC purpose and for risk categorisation,
which the customer is obliged to give. After the account is opened Bank may seek
separately, other „optional‟ details/additional information from the customer on his/her
explicit consent.
2.8 Although customer has to be identified by using reliable, independent source

documents, data or information, to have uniformity, Bank has prescribed certain
6
documentation as per the present KYC policy, which will help in finding out the
genuineness of the customers. It is essential to establish the Identity, Signatures and
Address (ISA) of the customer before the Bank decides to open an account. As per PML
Rules documents as indicated in Table A below are identified as „Officially Valid
Documents‟ to establish ISA of an Individual customer.
2.9 The table gives the documents that can be taken and a “Yes” against it
indicates the purpose for which it is to be obtained. Various important aspects /
procedures which need to be checked / followed while opening an account are
incorporated in the checklist given below the table.
Table A
Table A Acceptability as Proof for
S.No. Document Acceptable as Proof for Identity Signature Mailing
Address
(I) (S) (A)
Signature in presence of Branch Head (Subject to production
1 No Yes No
of documents supporting Identity and Address)
2 Passport Yes Yes Yes
3 PAN card Yes Yes No
4 Driving License (laminated/non laminated) Yes No Yes
5 Election ID / Voters‟ ID card Yes No Yes
Identity card with applicants photograph issued by Central /
State Government Department, Statutory / Regulatory
Authorities, Public Sector Undertakings, Scheduled Commercial
6 Yes Yes Yes
Banks and Public Financial Institutions. Acceptable only for Low
Risk Customers (risk categorisation given in Appendix II of
Master Circular on KYC & AML)
Letter from a recognized public authority at the level of a
Gazetted Officer like District Magistrate, Divisional
7 Commissioner, BDO, Tehsildar, Judicial Magistrate etc. Yes No Yes
Acceptable only for Low Risk Customers (risk categorisation
given in Appendix II of Master Circular on KYC & AML)
8 NREGA job card Yes No Yes
Aadhaar letters / Card issued by the Unique Identification
Authority of India (UIDAI) / e-Aadhaar (refer Para 2.43.26 of
9 Master Circular on KYC & AML)/ Aadhaar authentication Yes No Yes
through e-KYC (refer Para 2.41 of Master Circular on KYC &
AML)
Utility bill which is not more than two months old of any service
provider (electricity, telephone, postpaid mobile phone, piped
10 gas, water bill). Acceptable only for Low Risk Customers (risk No No Yes
categorisation given in Appendix II of Master Circular on KYC &
AML)
Property or Municipal Tax receipt. Acceptable only for Low Risk
Customers
11 No No Yes
7
Bank account or Post Office savings bank account statement.

12 Acceptable only for Low Risk Customers (risk categorisation No No Yes
given in Appendix II of Master Circular on KYC & AML)
Pension or family pension payment orders (PPOs) issued to
retired employees by Government Departments or Public
13 No No Yes
Sector Undertakings, if they contain the address. Acceptable
only for Low Risk Customers
Letter of allotment of accommodation from employer issued
by State or Central Government departments, statutory or
regulatory bodies, public sector undertakings, scheduled
commercial banks, financial institutions and listed companies.
14 No No Yes
Similarly, leave and license agreements with such employers
allotting official accommodation. Acceptable only for Low Risk
Customers (risk categorisation given in Appendix II of Master
Circular on KYC & AML)
Documents issued by Government departments of foreign
jurisdictions and letter issued by Foreign Embassy or Mission in
15 India. Acceptable only for Low Risk Customers (risk No No Yes
categorisation given in Appendix II of Master Circular on KYC &
AML)
Declaration for communication/local Address provided one
16 documentary proof is obtained (refer Para 2.43.5 of Master No No Yes
Circular on KYC & AML)
17 Self-signed cheque No Yes No
18 Self-signed cheque No Yes No
2.10 RBI has published a poster and a booklet (click to view) for creating awareness
among common people about simplification of KYC norms for opening accounts in
Banks. As per the instructions of RBI, Branches are advised to make available the
booklet to the customers/ general public and display the poster prominently in their
premises. Display of posters and availability of booklets may be checked by RBI during
their incognito visits to the branches. Branches are advised to ensure compliance of
the RBI directions. ROM‟s are advised to check during their visits to the branches the
display of poster and availability of the booklets.
2.11 The customers shall not be required to furnish an additional OVD, if the OVD
submitted by the customer for KYC contains both proof of identity and proof of address.
2.11 Documentation for Individual Accounts

a. ISA Documents as per Table A above separately for each individual.
b. In case where permanent address of customer is different from
communication /mailing address, any document as mentioned in the Table
A for proof of permanent address.
8
c. Accounts under various Central / State Government Schemes including

scholarship for students should be opened under scheme code RSGSS only
without any restriction for „minimum balance‟ requirement or „total credit
limit‟. This particular scheme code i.e. RSGSS is exempt while identifying the
account as inoperative/ unclaimed by the system automatically.
d. In case of Old, Sick or Incapacitated Persons: If an account holder who is old,
sick or incapacitated cannot come to the Bank to open his/her account, a
thumb or toe impression or any other mark of the person shall be obtained,
however it should be identified by two independent known witnesses, one of
whom should be a bank official.
e. Accounts of Politically Exposed Persons (PEPs) resident outside India: PEPs are
individuals who are or have been entrusted with prominent public functions in
a foreign country, e.g., Heads of States or of Governments, senior politicians,
senior government/judicial/military officers, senior executives of state-owned
corporations, important political party officials, etc. Before opening a new
account, necessary checks shall be conducted so as to find out that the
identity of the customers/entities/persons associated with the entities is
matching with the Politically Exposed Person (PEP) list. The information may be
gathered from the public domain and necessary due diligence is conducted
before accepting the customer. accounts of PEPs, customers who are close
relatives of PEPs, and accounts of which a PEP is the ultimate beneficial
owner shall be opened with the approval of concerned DGM or above /
concerned Regional Head. The above norms may also be applied to the
accounts of the family members or close relatives of PEPs. In the event of an
existing customer or the beneficial owner of an existing account,
subsequently becoming a PEP, banks should obtain senior management
approval to continue the business relationship and subject the account to
the CDD measures as applicable to the customers of PEP category including
enhanced monitoring on an on-going basis. These instructions are also
applicable to accounts where a PEP is the ultimate beneficial owner.
9
2.12 Documentation for Staff Accounts
a. Proof of permanent/communication address as per Table A. Allotment Letter

issued by the Admin Dept, if the staff quarters are allotted can be considered
as address proof. Proof of communication / local address can be obtained
on declaration Basis
b. Office order of employee mentioning EIN Number
c. Employee shall sign in presence of the Branch Head.
2.13 Documentation for Minor Accounts (operated by Guardian)
a. ISA of the Guardian as per TABLE A.

b. Guardian‟s photograph and signature required on AOF.
c. Minor Declaration to be signed by the Guardian
d. Two Minors under one guardian or Minor under two guardians are not
allowed in a minor account.
e. Only natural guardians as per law are acceptable, otherwise guardian
should be a person appointed by a court of law.
f. Savings Bank Account opened by minor jointly with natural guardian /
guardian can only be operated by natural guardian /guardian as the case
may be.
g. One of the following documents should be obtained as proof of Minor‟s Date
of Birth:
 Birth Registration certificate
 Passport
 10th or 12th Mark sheet
 School Leaving certificate
 Report card showing DOB
 School ID card with Photo and DOB mentioned
 PAN Card
 Aadhaar Letter/Card
10
2.14 Documentation for Minor Accounts (self-operated by Minor)
Minors above the age of 10 years can open and operate Individual Savings
Bank account independently. The minor should be capable of understanding
the banking and should be able to sign consistently. However no overdraft
shall be allowed in the account.
a. ISA of Minor as per Table A. Where valid College / School Identity Card
showing the identity and signature of the Minor is available,
b. Photograph of Minor to be obtained.
c. Joint Account with joint mode of operation by two minors (siblings) permitted.
On majority of one of the minors the account would continue with the same
mode of operation.
d. No Nomination
e. No Power of Attorney
f. One of the following documents should be obtained as proof of Minor‟s Date
of Birth -
 Birth Registration certificate
 Passport
 10th or 12th Mark sheet
 School Leaving certificate
 Report card showing DOB
 School ID card with Photo and DOB mentioned
 PAN Card
 Aadhaar Letter/Card
2.15 Documentation for Minor becoming Major
a. Letters to Minors becoming major to be sent as per Bank‟s extant guidelines.

b. On Minor becoming Major, the account would be frozen and the freeze shall
be removed after submission of KYC documents as applicable for an
individual account as per Table A. Minor should sign the documents in
presence of Bank official.
c. Fresh account opening forms (and operational mandate and photograph)
should be obtained from the erstwhile minor, duly attested by the guardian.
Suitable changes should be made in the records.
11
2.16 Documentation for Illiterate Accounts
a. ISA as per Table A

b. Thumb impression should be affixed on all supporting documents and the
same should be signed by one witness with their names and addresses in the
presence of Branch Officials. Details and signature of witness are required on
AOF (near the thumb impression). Certificate by the SOM/Branch Head with
name, EIN no and branch stamp should also be attached to the AOF stating
that the contents of the AOF/documents which the customer has signed
have been explained to him/her. (The certificate should be signed by witness
with their name and address.)
c. While opening accounts under Financial inclusion such as RSBA2 and RSBA3,
the requirement for witness has been waived, subject to the condition that
thumb impression should be obtained in presence of the Branch Head. Even
in these cases, branch should, on a best effort basis, obtain one witness at
least.
d. Illiterate persons may be allowed to open accounts jointly with persons who
are literate or illiterate and are closely related to them (father, mother,
brother, sister, son, daughter, daughter- n-law, husband, wife) with mode of
operation as Jointly only.
e. Before opening joint accounts, branch should discuss with the clients and
know the reasons for opening such accounts. Having understood the reason
and satisfied about the same, the account may be opened.
f. No cheque book facility and ATM / Debit Card facility shall be provided to
illiterates (in single as well as joint accounts – even if the joint account holder
is a literate).
2.17 Documentation for Senior Citizen Account
b. If Date of Birth / Age is not mentioned in documents given by customer, a
copy of any one of the following documents to confirm the age/date of birth
is to be obtained (proof that the prospective account holder has completed
60 years):
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 Passport
 Driving License
 Pension Payment Order
 Government ID Card
 School Leaving Certificate
 Life Insurance Policy
 Birth Certificate
 PAN Card
 Photo ID issued by PSUs to retired persons
 Ration Card
 Voters Identity Card
 Aadhaar Card
 An Affidavit-cum-indemnity (Self declaration of date & place of birth)
before a Magistrate. Branch should resort to this option only as a last
resort after satisfying that the prospective customer does not have any
one of the documents mentioned above as age proof for a senior citizen
(format given in Annexure III).
2.18 Documentation for Accounts of Visually Impaired Persons

b. Visually impaired persons should be allowed to open account with all
banking facilities without any discrimination (cheques to be crossed at the
time of issue)
c. For cash withdrawals, the visually impaired person should personally present
himself/herself before the bank official who will facilitate filling up the cheque
/ withdrawal slips.
d. Undertaking by the account holder that the cheque book, ATM card /
International Debit Card etc. being issued at his/her own risk. Format of
undertaking as per Annexure IV.
2.19 Documentation for Corporate Payroll account
a. ISA as per Table A and

b. Introduction of the employee by the designated official (employer) in the
AOF with full details like name, designation, Employee ID under seal, or
c. A separate letter / certificate along with the photograph of the employee
duly signed by the designated official (employer) with full details like name,
designation, Employee ID under seal or
13
d. Copy of the identity card of the employee duly attested by the designated
official (employer) with full details like name, designation, Employee ID under
seal
Note: In all the above cases (b, c and d) where the employer is introducing
the employee, branch should be aware of and familiar with the competent
authority designated by the corporate / employer to issue such certificate /
letter / introduction and BH shall countersign the AOF against introduction for
having verified the above.
2.20 Documentation for Persons with autism, cerebral palsy, mental retardation,
multiple disabilities and mentally ill Person

b. Joint accounts not allowed
c. The Guardianship Certificate issued by the Local Level Committees under the
National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental
Retardation and Multiple Disabilities Act, 1999 Or
d. the Guardianship Certificate issued by District courts and District Collectors as
prescribed under The Mental Health Act, 1987 , in case of Mentally Ill Person
e. Photograph and ISA as per Table A of the Legal Guardian
2.21 Documentation for NRI Accounts Opened through branch
a. IS as per TABLE A.
b. Proof of Correspondence needs to be taken. Any document as
Correspondence Address proof as per Table A for Domestic / Overseas
address of customer. For Overseas Address Proof, any of the following listed
documents shall also be accepted:
- Overseas Utility Bills (should not be more than three months old).
- Bank Account statement or Pass Book (should not be more than three
months old)
- Person of Indian Origin (PIO) card or Overseas Citizen of India (OCI) card
containing overseas address of the customer.
c. Valid passport
14
d. Valid Resident / Employment / Student visa.

 If the visa is not stamped in the passport (as is the case with some of the
European countries), copy of the resident permit issued by immigration
authorities.
e. Work Permit / Labour Card (if Applicable)
f. Photograph of individual account holder
g. In case of Person of Indian Origin(PIO) having foreign passport, copy of PIO or
copy of Overseas Citizen of India (OCI) card issued by Government of India ,
or copy of past Indian passport of self / parent/ grandparent should be
obtained to establish the PIO status of the applicant, along with self-
declaration for PIO as given in the account opening form. In case PIO/OCI
card is not available, any other documentary proof to confirm the PIO status
of the customer should be taken such as copy of old Indian Passport or any
document which confirms if Self/Spouse/ Parents/ Grand Parents are citizen
of India.
g. Customer Declaration for Translation of Documents that are in Foreign
Language as per Annexure V.
h. The exit re-entry Visa of clients residing in Saudi Arabia can be used as proof
of Visa copy for opening of NRE accounts of this country. It should be ensured
that the “IQAMA” No. Is mentioned on the Exit / Re-entry Visa or copy of
IQAMA is provided as a supporting documents while opening NRE/NRO
accounts.
i. Additional documents for persons employed overseas with a foreign shipping
company
 Current work contract or offer letter issued by shipping company. If the
work contract or offer letter is not received, a letter should be
obtained from shipping company confirming the date of sailing.
Employment contract / letter should be on the letter head of the
agent wherein, the overseas address of the shipping company / airline
should be prominently displayed
 Last wage slip
 Continuous Discharge Certificate (CDC)
j. Additional documents for contract employees:
15
 Last work contract

 Letter from local agent confirming next date of joining the foreign
vessel (not more than six months of date of last return to India)
 Principal's overseas address or current work contract.
2.22 Documentation for accounts opened through insta online (through internet) and
documents sent by mail:
a. The first payment to be effected through his /her overseas account and if
from an account in India, it should necessarily be from the customer's NRE
account.
b. Documents as specified for Non Resident customers as above duly self
attested and duly authenticated by and attesting the photograph &
signature ( attestation seal should be affixed across the photograph and
beside the signature box respectively) by:
 Indian embassy (or)
 Overseas Notary (or)
 Existing Banker of NRI (or)
 Exchange House through whom our Bank has tie up for remittance
business. Details of exchanges houses are available on Intranet.
2.23 Documentation for Acceptance of Self Attested documents in case of account

opening from overseas locations
a. NRI / PIO client shall compulsorily furnish additional documents as listed

below along with the NRI account opening form in addition to the existing
mandatory documents required for NRI account opening as listed in Para
2.21 above:
i. Initial account opening cheque from Clients‟ existing NRE/NRO/
Resident savings bank account in India
ii. Original bank statement of the clients‟ overseas bank account with
seal of the bank with signature. (The statement should not be more
than 3 months old).
iii. Self-attested photocopy/original of any one of the latest overseas
utility bill such as Telephone, Electricity, Gas, Water, it should be
16
ensured the utility bills so obtained should not be more than three
months old.
iv. Self-attested Photocopy of any two of the following valid photo
identity documents with signature such as:
 Pan Card issued in India
 Photo Credit Card issued overseas
 Overseas Driving license
 Overseas University/College Id card
 Overseas Health Card
 Overseas Civil Id / Resident permit
b. Any other Photo Id document issued overseas by Govt. Authority of the
respective Country.
c. Special Instructions:
i. Self-attested documents shall be restricted only to the countries which
are part of Financial Action Task force (FATF) list of member countries
as listed in Appendix III.
ii. Opening of Accounts based on self-attested documents from
overseas locations is restricted to clients having existing NRE/NRO/
Resident Accounts in India. This facility will not be available to First time
banking NRI / PIO and First Time banking non face to face NRI / PIO
customers.
iii. The Branch where the client intends to open the account shall have
the additional responsibility of field verification of Indian address
provided by the client. Field verification report shall be mandatory and
should be attached along with the AOF. Specimen copy of field
verification report format is enclosed at Annexure VI. Any relaxation in
the same has to be ratified by the Regional Head only.
2.24 Documentation for Foreign Nationals who come to the country for Studies
Account Type: Non Resident Ordinary Account with Label Code FRNASTU (Any
type of operative account available at the time of opening the account
including a Zero Balance Account with ATM facilities)
i. Copy of Passport
17
ii. Proof of current address of the home country

iii. Copy of Visa with immigration endorsements– Purpose of Visit – Study.
iv. Letter of offer of admission from the educational institution.
v. Proof of living in a facility of the institute (or) A rent agreement giving local
address in India – The document may be procured within a period of 30
days of opening of the account (in such cases Landlord may not be forced
to visit the bank branch for verification of the documents, branch may
adopt alternative means for such verification).
vi. Resident Permit issued by Registrar of Foreign Nationals (Police
Department).
vii. All the documents taken should be duly verified with the originals.
viii. During the 30 days period (till the verification of Address is pending), the
account shall be operated with the condition of allowing foreign
remittances not exceeding USD 1,000 into the account and a cap of
monthly withdrawal of Rs.50,000/-.
ix. On submission of proof of current address, the account shall be treated as
normal NRO accounts and shall be operated with all terms and conditions
as contained in Manual of Instructions on Non Resident Deposit account
and other guidelines issued by NRI cell of our Bank.
x. Students with Pakistani Nationality a prior approval from RBI needs to be
obtained.
2.25 Documentation for Foreign Nationals who come to the country for Employment
Account Type: Resident Account with Label Code FRNATEMP (Any type of
operative account available at the time of opening the account)
i. Copy of Passport
ii. Copy of Visa with immigration endorsements (Compulsory) – Purpose of Visit
- Permission to work
iii. Proof of current address of the home country
iv. Proof of Address in India (Any one of the documents as mentioned in KYC
Policy)
v. Resident Permit issued by Registrar of Foreign Nationals (Police Department)
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2.26 Documentation for HUF Accounts

a. ISA of Karta as per Table A
b. Pan card of HUF or PAN Allotment letter for verification with a copy
c. HUF declaration signed by Karta
d. Details of Major coparceners along with signature and minor coparceners
along with date of birth.
2.27 Documentation for TASC (Trusts, Associations, Societies and Clubs)
2.27.1 Registered Trusts
ISA Documents
a. of authorised signatories to transact on behalf of Trust as per Table A
Other Documents
a. Registration Certificate
b. Registered Trust Deed of the Trust - All pages duly signed by the signatories (not
mandatory for Public/charitable Trust if the same is not available)
c. Photographs of trustees and authorized signatories
d. PAN card copy OR Form 60 with mailing address proof of the trust
e. Copy of By-laws, if not incorporated in Trust Deed
f. List of all Trustees, Settlers, Beneficiaries and those holding POA, Founders,
Managers, Directors and their address
g. IT exemption letter (for charitable institutions)
h. Resolution of Trustees as per Annexure VII
i. Branch Official Visit Report (BOVR) as per Annexure VIII confirming the address and
having met one of the authorized signatories.
j. NOC from existing banker in case the customer is enjoying any credit facilities.
2.27.2 Unregistered Trusts
ISA Documents
a. of authorized signatories as per Table A
Address Proof (Any ONE of the following)
a. Utility bill such as electricity, water and landline telephone bills which is not more
than two months old.
b. Existing Bank account statement of the Trust, wherein the account should be
minimum six months old. The Bank statement should reflect transactions of the last 3
months. In case the account statement is that of Co-operative Bank, then the Bank
should be “Scheduled Co-op Bank”. Initial Deposit Cheque should be obtained
from the same account. Signature of members, as Authorized Signatories in the
Cheque and in the AOF should match.
Other Documents
a. Copy of Trust Deed (if available) - All pages duly signed by the signatories.
b. Copy of By-laws – if they do not form part of Trust Deed.
c. PAN card copy OR Form 60 with mailing address proof of the Trust.
d. Photographs of trustees and authorized signatories
e. List of all Trustees, Settlers, Beneficiaries and those holding POA, Founders,
Managers, Directors and their addresses.
19
f. Resolution of Trustees.
g. Branch Official Visit Report (BOVR) confirming the address and having met one of
the authorized signatories.
h. NOC from existing banker in case the customer is enjoying any credit facilities.
i. Such information as may be required by the bank to collectively establish the legal
existence of such an association or body of individuals.
Special Instructions
a. For Unregistered Trusts, the account shall be opened as Unincorporated
Association or Body of Individuals under customer type as Unincorporated Bodies
(UNICB)
2.27.3 Registered Associations, Societies and Clubs

ISA Documents
Other Documents
a. Bye Laws (All pages duly signed by the signatories)
Registration Certificate
b. PAN card copy OR Form 60 with mailing address proof of the association/
society/club
c. Resolution of managing body as per Annexure IX
d. List of office bearers of the Association/society/club
e. Branch Official Visit Report (BOVR) as per Annexure VIII confirming the address of
and having met one of the authorized signatories.
f. NOC from existing bankers in case the customer is enjoying any credit facilities.
2.27.4 Unregistered Associations, Societies and Clubs
ISA Documents
Address Proof (Any ONE of the following)
a. Utility bill such as electricity, water and landline telephone bills which is not more
than two months old .
b. Existing Bank account statement of the Society / Association, wherein the account
should be minimum six months old. The Bank statement should reflect transactions
of the last 3 months. In case the account statement is that of Cooperative Bank,
then the Bank should be “Scheduled Co-op Bank”. Initial Deposit Cheque should
be obtained from the same account. Signature of members, as Authorized
Signatories in the Cheque and in the AOF should match.
Other Documents
a. Bye Laws (All pages duly signed by the signatories)
b. PAN card copy OR Form 60 with mailing address proof of the association/
society/club
c. Resolution of managing body
d. List of office bearers of the Association/society/club
e. Branch Official Visit Report (BOVR) confirming the address and having met one of
the authorized signatories.
20
f. NOC from existing bankers in case the customer is enjoying any credit facilities.
g. Such information as may be required by the bank to collectively establish the legal
existence of such an association or body of individuals.
For Unregistered Associations, Societies and Clubs, the account shall be opened as
Unincorporated Association or Body of Individuals under customer type as
Unincorporated Bodies (UNICB)
2.28 Documentation for Self Help Groups (SHGs)
ISA Document
a. of all authorized signatories and office bearers as per Table A
b. Photographs of all authorized signatories and office bearers
Address Proof
a. Copy of Code of Conduct - Bye Laws & Rules & Regulation of SHG, approved by
SHG members, if any
Other Documents
a. Copy of Code of Conduct - Bye Laws & Rules & Regulation of SHG, approved by
SHG members, if any
b. List of all members along with their designation
c. Resolution to be signed by all members, indicating their decision to open a savings
bank with the bank as per Annexure X
d. List of authorized signatories with their mode of operation.
e. PAN card copy, if available
f. Registration copy of the SHG (if registered – If available).
g. Copy of SHG Community Register, if available
h. Copy of Approval from respective Government Authority for formation of the SHG,
if the SHG is under Government schemes, if any
i. All the documents should be stamped under the Rubber stamp of the SHG
a. In the event of death of any member/s or admission of new member/s, same can
be done with the approval of all the existing members.
b. At least 3 members of the SHG group should be appointed as the authorized
signatories to operate the account, with operating instructions as “any two
jointly”(Minimum operating persons/authorities should be two).
2.29 Documentation for Sole Proprietorship
ISA Documents
a. of Proprietor as per Table A
Entity Proof (Any TWO of the following - in case Branch Head is satisfied that it is not
possible to furnish two such documents, Branch may accept at its discretion only
one of the following documents)
a. Registration certificate/license issued by Municipal authorities such as Shop &
Establishment certificate / Trade License.
b. CST / VAT /Sales Tax/Service Tax / Profession Tax Registration Certificate.
21
c. Letter of registration from CST / VAT /Service Tax /Professional Tax authorities.
d. Registration certificate (in the case of a registered concern)
e. IEC (Importer Exporter Code) issued by DGFT
f. License issued by the registering authority like certificate of practice issued by
Institute of Chartered Accountant of India, Institute of Cost Accountants of
India, Institute of Company Secretaries of India, Indian Medical Council, Food
and Drug Control Authorities, etc.
g. License issued by Explosives Rules.
h. Certificate of registration under any specific Statute / Act of the government.
i. Utility bills such as electricity, water and landline telephone bills in the name of
the proprietary concern (not prior to 2 months).
j. IRDA (Insurance Regulatory and Development Authority) license in the name of
the entity with address mentioned.
k. Valid Business License or certificate of registration issued by State / Central
government authority (Validity would include the grace period for renewal as
mentioned in the certificate).
l. Permission Issued by respective government authority for units in SEZ (Special
Economic Zone), STP (Software Technology Park), EOU (Export Oriented Unit),
EHTP (Electronic Hardware Technology Park), DTA (Domestic Tariff Area) and
EPZ (Export Processing Zone) in the name of the entity mentioning the address
allotted.
m. Registration certificate of recognized Provident Fund with PF commissioner.
n. Factory Registration certificate issued by any state / central government
authority.
o. RBI/SEBI Registration Certificate.
p. License to sell stock or exhibit for Sale or distribute Insecticides, under the
Insecticides Rules, issued by respective state /union government department.
q. Permission issued by village Administrative Officer / Panchayat Head / Mukhiya
/ Village Developmental officer / Block development officer or Equal Rank
officer for customers in rural / village areas and President/CEO if document
issued by Nagar Parishad / Zilla Parishad.
r. Letter/ Certificate/ NOC issued by village Administrative Officer / Panchayat
Head / Mukhiya / Village Developmental Officer / Block Development Officer
or Equal Rank officer for customers in rural / village areas and President/CEO if
document issued by Nagar Parishad / Zilla Parishad stating the details of
existence of the firm may be accepted. In such cases, (wherever permission is
not available), CPV by a bank staff shall be mandatory.
s. Registration Certificate issued by District Industries Centre for firm registered as
SSI/Micro/Medium Unit.
t. License issued under Contract Labour (Regular & Abolition) Act 1970.
u. License issued by police department under the provisions of State Police Act.
v. Latest Income Tax Return filed in name of proprietor, provided the name of firm
shall reflect on the ITR Form filed. The name generally appears on page –2. The
returns, if submitted, should be in the name of the Proprietary concern and not
in the individual‟s name.
22
w. Acknowledgment of ITR return may be accepted provided the name of the

firm is mentioned on the acknowledgment. The returns, if submitted, should be
in the name of the Proprietary concern and not in the individual‟s name.
x. Latest Sales Tax Returns filed in name of firm (CST/VAT/Service Tax/Profession
Tax) duly acknowledged. The returns, if submitted, should be in the name of
the Proprietary concern and not in the individual‟s name.
y. TAN Allotment Letter in name of firm only. The same shall not be acceptable if
issued in the name of the proprietor. Print out of online TAN registration details
shall also be accepted.
z. Latest available Income Tax / Wealth Tax Assessment order along with print out
from PAN website confirming the PAN number & name of entity.
aa. Latest property tax / Water tax bill / Utility bill or receipt in the name of the firm
issued by local government authorities or the service provider (not prior to two
months). In case of telephone bill, the bill needs to be for a landline
connection.
bb. Certificate issued by the Chartered Accountant (CA) confirming existence of
the firm.
- Branch may check up with the prospective client that the CA has been / will
be his CA for his tax related issues. This will ensure that such certificates are
obtained based on CA – Client relationship only.
- The name of the Chartered Accountant would need to be verified from the
Chartered Accountants directory. This would need to be accompanied by
a site visit conducted by a permanent bank staff and checked up with the
CA.
- Where the CA certificate is obtained as the sole document, Branches should
take extra care while relying on such document and may obtain one
additional document as entity proof.
cc. Registration Certificate / License issued by Rubber Board / Spices Board / Tea
Board / Coffee Board / Coir Board / Tobacco Board / National Jute Board /
Pollution Control Board.
dd. License issued by Agriculture Produce Marketing Committees (APMC) / Gramin
Mandis / KVIC.
ee. Existing Bank account statement of the firm, wherein the account should be
minimum six months old. The Bank statement should reflect transactions of the
last 3 months. In case the account statement is obtained of Co-operative
Bank, then the Bank should be “Scheduled Co-op Bank”. Initial Deposit
Cheque should be obtained from the same account. Signature of Proprietor,
as proprietor on the Cheque and in the AOF should match.
Address Proof
a. All the documents acceptable as entity proofs listed above shall be accepted
as address proof also, provided the address of the firm is listed in such
documents.
Other Documents
a. Proprietorship Declaration
b. Branch Official Visit Report (BOVR) confirming the address of the company /
firm and having met the Proprietor.
23
c. PAN Card copy of the Proprietor(Compulsory)

d. NOC from existing bankers in case the customer is enjoying any credit facilities.
a. In case of an existing well-established operative Current Account customer of
the Bank wishing to open another Current Account in a different name/entity,
introduction by the same customer is additionally required.
b. Initial deposit cheques from the proprietor‟s personal account is acceptable
2.30 Documentation for Partnership Accounts:

ISA Documents
a. of the partners authorized to operate the account as per Table A
Entity Proof (Any ONE of the following)
a. PAN card of the Partnership entity
b. Registration certificate / Acknowledgement for acceptance for registration (with
the Registrar of firms). If an acknowledgment is obtained, the Registration
Certificate should be obtained and forwarded to RPU within three months of
operationalizing the account.
c. Existing Bank account statement of the firm wherein the account should be
minimum six months old. The Bank statement should reflect transactions of the last
3 months. In case the account statement is that of Cooperative Bank, then the
Bank should be “Scheduled Co-op Bank”. Initial Deposit Cheque should be
obtained from the same account. Signature of Partner/s, as partner in the
Cheque and in the AOF should match.
d. Registration certificate/license issued by the Municipal authorities such as Shop &
Establishment certificate / Trade License.
e. CST / VAT /Service Tax / Profession Tax Registration Certificate.
f. Letter of registration from CST / VAT /Service Tax /Professional Tax authorities.
g. IEC (Importer Exporter Code) issued by DGFT
h. License issued by the registering authority like certificate of practice issued by
Institute of Chartered Accountants of India, Institute of Cost Accountants of India,
Institute of Company Secretaries of India, Indian Medical Council, Food and Drug
Control Authorities, etc.
i. License issued under the Explosives Rules.
j. Certificate of registration under any specific Statute / Act of the government.
k. Insurance Regulatory and Development Authority (IRDA) license in the name of
the entity with address mentioned therein.
l. Valid Business License or certificate of registration issued by State / Central
m. Permission Issued by respective government authority for units in Special
Economic Zone (SEZ), Software Technology Park (STP), Export Oriented Unit (EOU),
Electronic Hardware Technology Park (EHTP), Domestic Tariff Area (DTA) and
Export Processing Zone (EPZ) in the name of the entity mentioning the address
allotted.
n. Registration certificate of recognized Provident Fund with PF Commissioner.
o. Factory Registration certificate issued by any State / Central Government
authority.
24
p. RBI/SEBI Registration Certificate.

q. License to sell stock or exhibit for Sale or distribute Insecticides, under the
Insecticides Rules, issued by respective State /Union Government /Department.
r. Permission issued by village Administrative Officer / Panchayat Head / Mukhiya /
Village Developmental Officer / Block Development Officer or Equal Rank officer
for customers in rural / village areas and President/CEO if document issued by
Nagar Parishad / Zilla Parishad.
s. Letter/ Certificate/ NOC issued by village Administrative Officer / Panchayat
Head / Mukhiya / Village Developmental Officer / Block Development Officer or
Equal Rank officer for customers in rural / village areas and President/CEO if
document issued by Nagar Parishad / Zilla Parishad stating the details of
existence of the firm may be accepted. In such cases, (wherever permission is
not available), CPV by a bank staff shall be mandatory
t. License issued under Contract Labour (Regular & Abolition) Act 1970.License
issued by police department under the provisions of State Police Acts.
u. TAN Allotment Letter in name of firm only. The same shall not be acceptable if
issued in the name of the partner. Print out of online TAN registration details shall
also be accepted.
v. Latest property tax / Water tax bill / Utility bill or receipt in the name of the firm
issued by local government authorities or the service provider (not prior to 2
months). In case of telephone bill, the bill needs to be for a landline connection.
w. Registration Certificate / License issued by the Rubber Board / Spices Board / Tea
Board / Coffee Board / Coir Board / Tobacco Board / Notional Jute Board /
x. License issued by Agriculture Produce Marketing Committees (APMC) / Gramin
Mandis / KVIC.
y. Latest Income Tax return (not just the acknowledgement) in the name of the firm
where the firm‟s income is reflected, duly authenticated/acknowledged by the
Income Tax Authorities. The returns, if submitted, should be in the name of the
firm.
z. Acknowledgment of ITR return may be accepted provided the name of the firm
is mentioned on the acknowledgment. The returns, if submitted, should be in the
name of the Partnership firm and not in the individual‟s name.
aa. District Industries Certificate confirming registration of SSI
bb. Existing Bank account Statement of the Firm wherein the account should be
minimum six months old. The Bank statement should reflect transactions of the last
three months. In case the account statement is that of a cooperative bank, then
the bank should be „scheduled cooperative bank‟. Initial deposit cheque should
be obtained from the same account. Signature of the partner/s, as partner in the
cheque and in the AOF should match.
Address Proof (any ONE of the following)
a. All the documents acceptable as entity proofs listed above shall be accepted as
address proof also provided the address of the firm is listed in such documents. If
the utility bill is taken as address proof, the bill can either be in the name of the
firm or any of the partners.
b. Latest Sales Tax Returns filed in name of firm (CST/VAT/Service Tax/Profession Tax)
duly acknowledged. The returns, if submitted, should be in the name of the
25
Partnership firm and not in the individual‟s name.

c. Latest available Income Tax / Wealth Tax Assessment order along with print out
from PAN website confirming the PAN number & name of entity. The returns, if
submitted, should be in the name of the Partnership firm and not in the individual‟s
name.
d. Certificate issued by the Chartered Accountant confirming existence of the firm.
The name of the Chartered Accountant would need to be verified from the
Chartered Accountants directory. This would need to be accompanied by a site
visit conducted by a permanent bank staff.
Other Documents (Compulsory)
a. Partnership Deed (Duly certified by minimum two partners as true copy)
b. Partnership Declaration on AOF - To be signed by all the partners
c. Pan card copy of Partnership Firm (compulsory)
d. NOC from existing banker in case the customer is enjoying any credit facilities.
e. Power of attorney granted to a partner or an employee of the firm to transact
business on its behalf.
f. Branch Official Visit Report (BOVR) as per Annexure VIII confirming the address of
the company / firm and also having met one of the authorized signatories.
g. Partnership Registration Certificate if Registered
a. Names of all partners and their addresses should be mentioned in the account
opening form.
b. Initial deposit cheque from the partners‟ personal accounts is acceptable.
c. Partner‟s signatures to match with AOF and deed In case of mismatch other
signature documents as listed in Table A can be taken.
d. If mode of operation is not mentioned in the Deed a letter of consent signed by
all partners is to be taken.
e. HUF as a partner can be accepted in Current or Fixed Deposit accounts however
no overdrafts in such accounts should be allowed.
f. For Unregistered Partnerships, the account shall be opened as Unincorporated
Association or Body of Individuals under customer type as Unincorporated Bodies
(UNICB)
2.31 Documentation for Private Limited / Public Limited Companies:

ISA Documents
a. of all authorized signatories operating the account as per Table A
establishment certificate / Trade License.
b. CST / VAT /Service Tax / Profession Tax Registration Certificate.
d. Certificate of Incorporation - for companies registered before April 01, 2014.
e. INC 22 i.e. Notice of situation or change of situation of registered office (change in
registered Address of the Company) filed with ROC - for Companies Registered /
changed their address on or after April 01, 2014
f. IEC (Importer Exporter Code) issued by DGFT
26
g. License issued by Explosives Rules.

h. Certificate of registration under any specific Statute / Act of the government.
i. IRDA (Insurance Regulatory and Development Authority) license
j. Valid Business License or certificate of registration issued by State / Central
k. Permission Issued by respective government authority for units in SEZ (Special
Economic Zone), STP (Software Technology Park), EOU (Export Oriented Unit), EHTP
(Electronic Hardware Technology Park), DTA (Domestic Tariff Area) and EPZ (Export
Processing Zone) in the name of the entity mentioning the address allotted.
l. Registration certificate of recognized Provident Fund with PF commissioner.
m. Factory Registration certificate issued by any state / central government authority.
n. RBI/SEBI Registration Certificate.
o. License to sell stock or exhibit for Sale or distribute Insecticides, under the
p. License issued under Contract Labour (Regular & Abolition) Act 1970.
q. License issued by police department under the provisions of State Police Acts.
r. Latest Income Tax Return duly acknowledged (in the name of the Company).
s. Latest Sales Tax Returns filed (CST/VAT/Service Tax/Profession Tax) duly
acknowledged.
t. TAN Allotment Letter. Print out of online TAN registration details shall also be
accepted.
u. Latest available Income Tax / Wealth Tax Assessment order along with print out
v. Latest property tax / Water tax bill / Utility bill or receipt in the name of the
Company issued by local government authorities or the service provider (not prior
to 2 months). In case of telephone bill the bill needs to be for a landline
connection.
w. Registration Certificate / License issued by Rubber Board / Spices Board / Tea
1) Other Documents
a. Memorandum of Association and Articles of Association
b. For Companies Registered / Incorporated before May 1, 2015 - Certificate of
Incorporation - Wherever the Certificate of Incorporation of a Company is not
available the same can be downloaded from the site of Ministry of Corporate
Affairs, instead of calling the Registrar signed copy of the same.
c. Corporate Identity Number (CIN) - for Companies Registered / Incorporated on or
After May 1, 2015. CIN should be verified from the website of Ministry of Corporate
Affairs available under the link View Company Master Data.
d. For companies registered / incorporated and commenced their business prior to
April 01, 2014 - Certificate of Commencement of Business to be taken only for
Public limited Companies (As per Section 149 of Companies Act, Certificate of
Commencement of Business should not be insisted from those companies that
have been converted from Private Limited to Public Limited Companies.)
e. For companies which have registered / incorporated /commenced their business
on or after April 01, 2014 till May 25, 2015, irrespective of whether incorporated
27
under Companies Act 1956 or 2013 -Self-Attested copy of, e-form no. INC-21 and
INC-22 duly filed by the company with RoC, along with Self-Attested copy of, GAR-
7 receipt issued by Ministry of Corporate Affairs, acknowledging receipt of
payment of requisite fees for these forms and Self-Attested copy of, email sent by
MCA approving the forms.
f. INC-22 duly filed by the company with RoC For companies which have registered /
incorporated /commenced their business on or after April 01, 2014. Branch may not
insist for INC 22 in cases where Company submits INC 29 or INC 32.
g. Copy of PAN Card (Compulsory)
h. Power of attorney granted to its managers, officers or employees to open and
operate on its behalf.
i. NOC from existing banker in case the customer is enjoying any credit facilities.
j. List of names and addresses of directors (Copy of latest Annual Report can be
taken on record to verify the same).
k. Board Resolution as per Annexure XI - Designations of the persons operating the
account to be specifically mentioned. Board resolution should be signed by the
Company Secretary or at least 2 directors.
l. Branch Official Visit Report (BOVR) as per Annexure VIII is mandatory - Certificate
to confirm the address of the company and also having met one of the authorized
signatories.
a. Initial deposit cheques from the promoters/directors accounts is acceptable
b. MOA/AOA to be certified by the company secretary/Director
c. If Directors names are not mentioned in MOA then Form DIR -12 to be taken along
with ROC cash challan. Where the appointment of Directors and the changes
among them are prior to April 2014 Form 32 issued by ROC along with receipt of
submission to ROC is to be taken. In exceptional cases, latest list of directors can be
downloaded by the branch from the site of Ministry of Corporate Affairs,
Government of India and authenticated by branch official.
d. In case of change in the registered address of the company – form no. INC 22.
Where the address is changed prior to April 2014 - form no. 18 issued by ROC along
with receipt of submission to ROC.
Foreign Company
a. “Foreign Company” means any company or body corporate incorporated outside
India which (a) has a place of business in India whether by itself or through an
agent, physically or through electronic mode; and (b) conducts any business
activity in India in any other manner. As per Section 380 of the Companies Act,
2013, every foreign company shall, within thirty days of the establishment of its
place of business in India, get itself registered with Registrar of Companies.
b. Documents required for opening accounts of Foreign Company is same as the
documents needed for opening the account of a Limited Company. With effect from
May 01, 2015, after Incorporation, Foreign Company Registration Number (FCRN) shall
be issued. FCRN should be obtained and should be verified from the website of Ministry
of Corporate Affairs available under the link View Company Master Data.
c. Registration copy with the Registrar of Companies of appropriate jurisdiction in India.
d. A certified copy of the charter, statutes or memorandum and articles, of the company
28
or other instrument constituting or defining the constitution of the company and, if the
instrument is not in the English language, a certified translation thereof in the English
language;
e. The full address of the registered or principal office of the company;
f. A list of the directors and secretary of the company containing such particulars as may
be prescribed;
2.32 Documents of One Person Company
ISA Documents
a. of Member and Authorized Signatory(s) as per Table A
establishment certificate / Trade License.
b. CST / VAT /Service Tax / Profession Tax Registration Certificate.
d. Notice of situation or change of situation of registered office (change in registered
Address of the Company) filed with ROC in form no. INC 22
e. IEC (Importer Exporter Code) issued by DGFT
f. License issued by Explosives Rules.
g. Certificate of registration under any specific Statute / Act of the government.
h. IRDA (Insurance Regulatory and Development Authority) license
i. Valid Business License or certificate of registration issued by State / Central
j. Permission Issued by respective government authority for units in SEZ (Special
Economic Zone), STP (Software Technology Park), EOU (Export Oriented Unit), EHTP
(Electronic Hardware Technology Park), DTA (Domestic Tariff Area) and EPZ (Export
Processing Zone) in the name of the entity mentioning the address allotted.
k. Registration certificate of recognized Provident Fund with PF commissioner.
l. Factory Registration certificate issued by any state / central government authority.
m. RBI/SEBI Registration Certificate.
n. License to sell stock or exhibit for Sale or distribute Insecticides, under the
o. License issued under Contract Labour (Regular & Abolition) Act 1970.
p. License issued by police department under the provisions of State Police Acts.
q. Latest Income Tax Return duly acknowledged (in the name of the Company).
r. Latest Sales Tax Returns filed (CST/VAT/Service Tax/Profession Tax) duly
acknowledged.
s. TAN Allotment Letter. Print out of online TAN registration details shall also be
accepted.
t. Latest available Income Tax / Wealth Tax Assessment order along with print out
u. Latest property tax / Water tax bill / Utility bill or receipt in the name of the
Company issued by local government authorities or the service provider (not prior
to 2 months). In case of telephone bill, the bill needs to be for a landline.
v. Registration Certificate / License issued by Rubber Board / Spices Board / Tea
29
2) Other Documents
a. Memorandum of Association and Articles of Association
b. Certificate of Incorporation - Wherever the Certificate of Incorporation of a
Company is not available the same can be downloaded from the site of Ministry
of Corporate Affairs, instead of calling the Registrar signed copy of the same.
c. Self-Attested copy of, e-form no INC-22 duly filed by the company with RoC,
along with Self-Attested copy, GAR-7 receipt issued by Ministry of Corporate
Affairs, acknowledging receipt of payment of requisite fees for these forms and
Self-Attested copy of, email sent by MCA approving the forms.
d. Copy of PAN Card (Compulsory).
e. NOC from existing Banker with whom customer is enjoying credit facility, if any.
f. Director Identification Number (DIN) for the prospective customer; it shall be
verified by the branch online from Ministry of Corporate affairs site. A print out of
the same shall be signed and kept along with the forms certifying the correctness
of DIN verified online(Compulsory)
g. Board Resolution signed by the Company Secretary or Member.
h. Branch Official Visit Report (BOVR) is mandatory - Certificate to confirm the
address of the company and also having met the Member
a. The name of the company should have the Letters „OPC‟ suffixed with the name
of One Person Companies to distinguish it from other companies.
b. Initial deposit cheque from the Member‟s account is acceptable.
c. MOA/AOA to be certified by the Company Secretary/Member.
d. If Director(s) names are not mentioned in MOA then DIR 12 to be taken. In
exceptional cases, latest list of directors can be downloaded by the branch from
the site of Ministry of Corporate Affairs, Government of India and authenticated
by branch official.
e. Branches shall obtain a copy of Nominee details registered for the OPC with MoC
/RoC. This should tally with the nominee details mentioned on Memorandum of
Association. This shall be obtained for record purpose only.
2.33 Documentation for Unincorporated Joint Ventures (UJV):

ISA Documents
a. of authorised signatories as per Table A
a. UJV Agreement entered between the UJV participants together with any
amendments and modifications thereto.
b. Copy of CST / VAT / Service Tax/Sales Tax/Profession Tax registration of UJV
Documents Required as Applicable
a. UJV Agreement entered between the UJV participants together with any
amendments and modifications thereto. (Tenure of UJV needs to be noted and
ensured that this is within the dissolution period.) All pages should be duly signed by
the signatories. Attested by branch Official with branch stamp and EIN No. If the
UJV is conducted beyond the dissolution period, then a new UJV agreement is
needed.
30
b. Copy of CST / VAT / Service Tax/Sales Tax/Profession Tax registration of UJV. If any of
the participants of UJV is a business entity, Copy of CST / VAT / Service Tax/Sales
Tax/Profession Tax registration of such participant should also be obtained.
c. Copy of PAN Card of UJV and of each participant.
d. Resolution for opening and operating bank account by UJV. Mode of operation to
be specified in the resolution giving specific names and monetary ceilings, if any.
e. List of Participants, duly signed by all participants.
f. Where UJV Participant is a Limited Company - Duly certified copy of the latest
Memorandum & Articles of Association and other KYC Documents of the said
company as per the extant KYC Policy of the Bank. The constitutional documents
should be examined to verify whether it empowers the company to be a
participant in any UJV. If so necessary resolution / authorisation (internal approval)
to the effect that the company has been authorised to participate in the said UJV
should also be obtained.
g. Where UJV Participant is a Partnership firm - Duly certified copy of the latest
Partnership Deed and other KYC Documents of the said Partnership Firm as per the
extant KYC Policy of the Bank. The constitutional documents should be examined to
verify whether it empowers the Partnership Firm to be a participant in any UJV. If so
necessary authorisation (internal approval) to the effect that the Partnership Firm
has been authorised to participate in the said UJV should also be obtained.
h. Where UJV Partner is a Limited Liability Partnership (LLP) - Duly certified copy of the
latest Agreements / LLP Agreement and other KYC documents of the said LLP as
per the extant KYC policy of the Bank. The constitutional documents should be
examined to verify whether it empowers the LLP to be a participant in any UJV. If so
necessary authorisation (internal approval) to the effect that the LLP has been
authorised to participate in the said UJV should also be obtained.
i. NOC from existing bankers / lead bank in case the UJV is enjoying any credit
facilities
j. Branch Official Visit Report (BOVR)
a. In case, one or more participant of the UJV is a foreign entity:- branches may
consult Legal Department.
b. Opening of a bank account by UJV is fraught with high risks and abundant care
and caution needs to be exercised. In case of any doubt with regard to UJV, a
separate opinion may be obtained from LD. For this reason, no KYC deviation is
permitted in such cases.
c. Further it may be ensured that the purpose of UJV does not contravene applicable
laws and the number of participants in the UJV does not exceed 20 in the case of
non-banking business and 10 in case of banking business. Otherwise it will be
treated as an illegal association.
d. It may be noted that the above KYC requirements are only for Liability accounts in
the Bank. Further all such accounts are to be categorized as “HIGH RISK” at the
time of opening (mandatorily).
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2.34 Documentation for Limited liability Partnerships (LLP):
ISA Documents
a. of all authorized signatories and Designated partners.
Other Documents
a. A certified true copy of the Limited Liability Partnership Agreement signed by
designated partners
b. A certified true copy of the Certificate of Incorporation / Registration signed by
designated partners
c. Copy(ies) of the Certificate(s) of “Designated Partner‟s Identification Number”
(DPIN) or Directors Identification Number (DIN) of the Designated Partner(s) as the
case may be issued by the Central Government.
d. Copy of Resolution to open the account and list of authorized person/s with the
specimen signatures to operate the account duly attested by Designated Partners.
e. List of names and addresses of present Partners and Designated Partners signed by
Designated Partners.
f. Pan card copy of the Firm
g. Branch Official Visit Report (BOVR)
h. NOC from existing Banker with whom LLP is enjoying credit facility, if any.
Special Instruction
a. If the communication address is different from the address mentioned in the
Registration / Incorporation certificate, then a proof for the same to be obtained.
b. Branch shall check the list of designated partners, online at the link provide in point
(d) below
c. The provisions of the original LLP Agreement regarding opening and operating of
bank accounts are to be noted and it should be ensured that the provisions are
not in conflict with the resolution. In case any one or more of the Partners or
Designated Partners are already authorized to open and / or operate bank
accounts of the LLP, the resolution can be signed by those authorized partners
and/ or Designated Partners.
d. The Incorporation certificate submitted by the LLP contains Identification number of
the LLP. , Branches should invariably check the designated partners details from the
internet site http://www.mca.gov.in/LLP/ >>>Quick links>>> View LLP Master Data
and Index of Charges. Branches shall check the authenticity of information relating
to partners and designated partners and should take a print out of the same and
submit the same duly authenticated by along with AOF to RPU at the time of
opening the account.
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2.35 Basic Savings Bank Deposit Account (BSBDA)

2.35.1 BSBDA – Full KYC account - Under Financial Inclusion
A. „BSBDA Full KYC Account‟ is subject to provisions of PML Act and Rules and RBI
instructions on KYC / AML for opening of Banks Accounts, issued from time to time.
An individual who desires to open a BSBDA Full KYC Account may be allowed to
open such an account on production of all the required KYC Documents.
B. These accounts are subjected to certain restrictions with regard to number of
transactions. Branches may be guided by the relevant product circulars and guide
the prospective customer accordingly.
C. Holders of „BSBDA‟ will not be eligible for opening any other savings bank deposit
account in bank. If a customer has any other existing savings bank deposit account
in the bank, he/she will be required to close it within 30 days from the date of
opening a „BSBDA Full KYC Account‟.
D. These accounts can be opened both under Branch and Business Correspondent
(BC) Model. Under branch model these accounts are opened under the Scheme
Code RSBA2. Under BC model these accounts shall be opened with specific
Scheme Codes as provided by Financial Inclusion Department of the Bank from time
to time.
2.35.2 BSBDA -Small Account - Under Financial Inclusion
A. an individual who desires to open a small account may be allowed to open such an
account on production of a self-attested photograph and affixation of signature or
thumb print, as the case may be, on the account opening form for Small Accounts,
in presence of the Branch Head and the same is certified by the Branch Head.
B. These accounts are subjected to certain restrictions with regard to balance /
transactions and activity. Branches may be guided by the relevant product circulars
and guide the prospective customer accordingly.
C. Branches should ensure to monitor such accounts for breach of stipulated
transactional limits as per the features/ guidelines provided by Product Department.
With a view to ensure compliance, RBG Corporate Centre have made some
process modifications in finacle to address the issue of non-compliance of norms
applicable to such accounts under RSBA3 scheme code.
33
Following restrictions are imposed in RSBA3 scheme code :

Account Restriction Freeze Type Freeze Code For removal of
freeze
The aggregate of all Auto Debit DFBS1 Account to be
credits in a financial Freeze will be migrated to
year has exceeded applied on EOD appropriate
rupees one lakh scheme code
after completion
of KYC .
The outstanding Auto Debit DFBS3 Account to be
balance in the Freeze will be migrated to
account has applied on EOD appropriate
exceeded rupees fifty scheme code
thousand after completion
of KYC.
The Aggregate of all Auto Debit DFBS2 The limit will be
withdrawals and Freeze will be reset at the
transfers in a month applied on EOD beginning of
has exceeded rupees each month
ten thousand
D. Branches shall forward such AOFs to RPUs only after ensuring that the applicant does
not have any documentary proof establishing his Identity, Address and Signature.
E. These accounts can be opened both under Branch and Business Correspondent
(BC) Model. Under branch model these accounts are opened under the Scheme
Code RSBA3. Under BC model these accounts shall be opened with specific
Scheme Codes as provided by Financial Inclusion Department of the Bank from time
to time.
F. Holders of „BSBDA – Small Account‟ will not be eligible for opening any other savings
bank deposit account in bank. If a customer has any other existing savings bank
deposit account in the bank, he/she will be required to close it within 30 days from
the date of opening a „BSBDA – Small Account‟.
G. Holders of „BSBDA – Small Account‟ shall remain operational initially for a period of
twelve months, and thereafter for a further period of twelve months if the holder of
such an account provides evidence to the Bank of having applied for any of the
officially valid documents within twelve months of the opening of the said account.
34
H. The entire relaxation provisions to be reviewed in respect of the said account after
twenty four months. Accounts non-compliant with KYC guidelines even after 24
months are to be freezed.
I. Holders of „BSBDA – Small Account‟ shall be monitored and when there is suspicion
of money laundering or financing of terrorism or other high risk scenarios, the identity
of client shall be established through the production of officially valid documents.
J. Report generated through finacle menu option „BSBDA‟ shall provide summary of all
BSBDA-Small Accounts (KYC relaxed) under various categories. For more details refer
to Master Circular on Generation, Checking and Preservation of Reports Para.3.22.
2.35.3 With the introduction of RSBA3 scheme code, RSBAS Scheme code has been
discontinued with effect from February 15, 2014. It is made clear that restrictions with
regard to number of transactions are applicable only for RSBA2 and restrictions with
regard to value of transaction and balance are applicable only for RSBA3. Accounts
under RSBAS were subjected to some restrictions relating to number of transactions and
value. It is quite possible that many accounts in RSBAS might have been opened with
Full KYC and thus need not be subjected to restrictions in terms of Value and Balance.
Continuing these accounts would result in inconvenience to Customers as they have
completed KYC requirements in full. In view of this, Branches are hereby advised to
scan their existing portfolio of RSBAS accounts and migrate such of those accounts with
Full KYC to appropriate scheme codes / RSBA2. Those accounts which were opened
without KYC documents as above may be migrated to RSBA3. In an eventual scenario
branch should aim that no account remains in RSBAS. RBG, Corporate Centre vide their
Circular no.188 dated 07.03.2017 has decided to centrally migrate all the accounts
under RSBAS to RSBA3.
2.35.4 The FAQs as given by RBI on BSBDA are available in Appendix IV.
35
2.36 Walk-in Customers : In case of transactions carried out by a non-account based

customer, i.e. a walk-in customer, where the amount of transaction is equal to or
exceeds rupees fifty thousand, whether conducted as a single transaction or
several transactions that appear to be connected, the customer's identity and
address should be verified as per Table A.
2.37 Documentation for Gift Cards (Prepaid Cards) and Travel Cards
a. Gift card (Prepaid Card)

i. Duly filled application form (in duplicate) indicating the customer id.
ii. Declaration from guardian in case of Minor
b. World Currency Card.

i. Duly filled application form (in duplicate) indicating the customer id.
ii. PAN card copy/ Form 60
iii. Passport copy
iv. Visa copy
v. Air ticket copy (Travel date to be within 60 days of card issuance date)
vi. Duly filled A2 form
vii. Declaration from guardian in case of Minor
c. Non customers applying for Gift/World Currency cards should comply with
the KYC norms as per the constitution of the customer.
d. The agents used for marketing the World Currency Cards, shall also be
subjected to KYC norms.
2.38 Documentation for Banks‟ Accounts
a. RBI License .
b. MOA/AOA in case of a Ltd Company.
c. Permission from the Registrar of cooperatives / Apex State Cooperative Bank
/ appropriate authority in case of a co-operative Bank
d. Bye laws in case of a co-operative Bank.
e. Board Resolution /Power of Attorney/Delegation of Powers.
f. Photographs/photo ID proof not required.
36
g. Questionnaire on KYC /AML /CFT for cooperative Banks (Annexure XII)

authenticated by the authorized signatory of the Cooperative Bank. A copy
of the duly filled in questionnaire should be kept in the records of the branch
and the original should be submitted to RPU for keeping the same in the
client pack of the said Cooperative Bank (CB). It is advised that in cases
where the CB customer expresses his inability to provide Enhanced Due
Diligence (EDD) questionnaire/related documents, Branch may take up with
Zonal GM based on merits and necessary approval may be obtained based
on which RPU may open such accounts.
h. Branch Official Visit Report (BOVR) as per Annexure VIII duly signed by Branch
Head and visit is to be conducted by BH himself.
i. After the Account is opened and activated, Branches should issue a letter to
the Cooperative Bank as per the format (Annexure XIII) for instructions &
guidelines related to At Par cheque facility. A copy of the letter, duly
acknowledged by the CB should be submitted to RPU for maintenance in the
customer folder of the client along with other documents relating to account
opening.
2.39 Documentation for Government Accounts
a. Form duly filled and signed by the Authorized signatories.

b. Document showing name of the person authorised to act on behalf of the
entity /Government Order/Notification.
c. Officially valid documents for proof of identity and address in respect of the
person holding a power of attorney to transact on its behalf
d. Letter/Resolution from authorized person for opening and operating the bank
account.
e. Such documents as may be required to establish the legal existence of such

an entity/juridical person.
b. Branch Official Visit Report (BOVR) as per Annexure VIII duly signed by Branch
Head and visit is to be conducted by BH himself.
c. Standalone FDs may be opened for PSU / Govt. Bodies by obtaining only a
letter subject to approval of Regional Head.
37
2.40 Documentation for Mandate / POA Holder
a. Letter of Mandate Holder should be in Bank format (Annexure XIV)

b. Mandate Letter to be signed by the customer and mandate holder
c. Mandate Holder‟s Name and photograph required in the letter
d. Complete Identity document (ISA) of the Mandate/POA holder as per Table
A
e. Mandate holder/Power of attorney cannot open an account.
f. Mandate letter can be accepted only from Literate customers.
2.41 Online Aadhaar Authentication Software – e-KYC
a. Aadhaar letter issued by Unique Identification Authority of India (UIDAI) is one

of acceptable document which provides details related to identity and
address of the customer. In order to reduce risk of Identity fraud, document
forgery and have paperless KYC verification, UIDAI has launched its e-KYC
service, and has provided access of the same to Banks. IDBI Bank has also
made necessary arrangements in coordination with Nationals Payment
Corporation of India (NPCI) and UIDAI to access information related to
Identity and Address of the customer through Biometric authentication. The
option to access the information is available to the Branches through the
Biometric devices already available with the branches for Finacle access.
The Process flow for e-KYC is given in Appendix V
b. The photograph and demographics of the customer can be seen on the
screen of computer at Branches/Units for reference. The Branch/Unit shall
check the information displayed on the screen with the information as
provided by the customer.
c. The staff checking the details shall enter the Aadhaar number on the AOF
and certify that the customer details have been verified with
data/information displayed on the screen. It shall be noted that print out of
the same is not required to be attached with the AOF. The list of all e-KYC
verification made at the Branch can be viewed at any time in e-KYC
Aadhaar Authentication software. RPU shall be able to view the e-KYC
authentications done at Branches.
38
d. Aadhaar Verification through e-KYC process as above completes the

requirement for proof of Identity (I) and Address (A) and branches /Units
have to obtain a proof of Signature (S) from the customer.
2.42 Deviations/approvals:
2.42.1 As per RBI guidelines, no deviations or exemptions shall be permitted for Officially
Valid Documents as mentioned in Table A above.
2.42.2 Even in case of other documents, no deviations or exemptions shall be generally
permitted. However, in certain genuine cases, General Managers of the respective
businesses in Zones can approve alternate documents, if they are satisfied that the
underlying guidelines of KYC and AML which is communicated by RBI and Bank from
time to time are not compromised.
2.42.3 Branches should submit to the approving authority as to why the documentation
requirement as advised in this Circular could not be fully complied, clearly bringing out
the reasons therefore and the circumstances under the reasonableness due to which
the deviation is sought for. Branch should also take additional precautions such as
personal visit to the place of the prospective account holder etc. or such other
precautions as may be deemed fit by the approving authority, to substantiate and
strengthen their request. This will help the approving authority for taking decision.
2.42.4 While approving such deviations / alternate documents, the approving authority
should be satisfied that the Branch has done the KYC in spirit and that maximum
possible documentation has been taken in support of their claim. The approving
authority should also be satisfied that the deviations allowed are within the ambit of RBI
instructions.
2.42.5 It should be ensured that the exceptions should be made only in extraordinary
cases where documents as per extant guidelines of the Bank are genuinely not
available and also after being fully satisfied about the reasonableness of the case.
2.42.6 All the KYC / AML documents are approved by Standing Committee on KYC &
AML (SCKYC) in the Bank. The Committee monitors present practices and policy of KYC
and AML, improves systems and processes in this area to enable smooth compliance
with RBI guidelines, puts in place systems for combating financing of terrorism, and
consider any changes based on the feedback from various Verticals within the
39
framework of RBI guidelines on KYC and AML. Any suggestion for improvement of KYC
and ISA documentation may be referred to SCKYC by the concerned vertical. Care,
however, should be taken to ensure that such referrals do not contravene RBI guidelines
and do not expose the bank to unacceptable risks.
2.43 Important Check Points while opening accounts:
2.43.1 AOF shall be complete in all respects and duly signed by the prospective
customer.
2.43.2 Branch should ensure that the latest photograph of the prospective account
holder (s), Mandate holder, Power of Attorney, Authorized signatory(ies) are obtained
and affixed in appropriate places in the AOF. The Photograph on the AOF should be
attested by the branch officials along with branch stamp and EIN. Branch should
identify the prospective account holder from the photograph provided.
2.43.3 Copies of all ISA documents and supporting KYC documents shall be self-
attested by the customer with narration “submitted to IDBI Bank, ……… Branch for
Account Opening” with name and date. BH / SOM needs to ensure this.
2.43.4 Before opening a new account, necessary checks should be conducted so as to

ensure that the identity of the customer /entities/persons associated with the entities
does not match with any person with known criminal background or with banned
entities such as individual terrorists or terrorist organizations etc. Branch should as a
preventive measure carry out check on the UN list of Taliban / Al Qaida Terrorists and
UN Caution List on Iran‟s nuclear and ballistic Missile Program. In case any resemblance
with the individuals and entities in the latest lists is found, branches should report of the
same to AML Cell immediately in Suspicious Transaction Report (STR) format for onward
submission to FIU/RBI. The updated list of such individuals/entities can be accessed in
the United Nations website through following links provided by UN Security Council:
i) The Updated ISIL & Al-Qaida Sanctions List is available at
https://scsanctions.un.org/fop/fop?xml=htdocs/resources/xml/en/consolidated.x
ml&xslt=htdocs/resources/xsl/en/al-qaida-r.xsl
ii) The Updated 1988 Sanctions list consisting of Individuals ( Section A of the
consolidated list) and entities (Section B) associated with the Taliban is available
at
https://scsanctions.un.org/fop/fop?xml=htdocs/resources/xml/en/consolidated.x
ml&xslt=htdocs/resources/xsl/en/taliban-r.xsl.
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The list / link is also available on Banks Intranet>> Departments >> Operations >> CPU >>
Hot Links for reference.
2.43.5 Only one documentary proof of address (either communication or permanent)

may be obtained. In case the documentary proof of address furnished by the
customer is not the local address or address where the customer is currently residing,
branches shall take a declaration of the local address on which all correspondence will
be made by the bank with the customer. This address shall be verified by the branch
through „positive confirmation‟ (Branch Official Visit to the local address as declared by
the customer). In case the address for which documentary proof has been submitted
undergoes a change, customer should be asked to submit fresh proof of address to the
branch within a period of six months. . In the event of change in address for which no
document is obtained (declaration basis) due to relocation or any other reason,
customers shall be asked to submit the new address for correspondence to the bank
within two weeks of such a change followed by positive confirmation as above. Some
probable scenarios are listed below for reference:
 Where customer can provide proof of his permanent address and is unable to
provide any document for proof of his communication address, a declaration
(as per Annexure XV); of the local address on which all correspondence will be
made by the bank with the customer shall be obtained. In such cases Branch
may obtain copy of any document if available (for e.g., Utility Bill, Bank
Passbook/statement, etc.,) with the customer as proof of the address as given in
Self Declaration by the customer. All such account opening forms shall be
accompanied with Branch Official Visit Report (BOVR) as per Annexure VIII.
 Where customer can provide proof of his correspondence address and is unable
to provide any document for proof of his Permanent address, the address as
provided for communication address should be captured in system as
Permanent Address also.
2.43.6 An official of the Bank (in the grade of Assistant Manager and above) shall verify
the original of the ISA / other documents carefully to match the copies submitted and
certify the same on the copies of such documents with narration “ original seen and
verified” with full signature, name and EIN number. The round stamp of the Branch shall
41
be neatly affixed on such copies. BH / SOM should ensure that neither AOF nor any of
the ISA/supporting KYC shall bear the signature of outsourced staff. Certification /
Signature / Seal as above shall be made on the blank spaces of the documents and
shall not be on the vital details of the documents. If the copies of ISA / supporting KYC
documents bear the signature of any official without the narration, it will be assumed
that the concerned official has seen the original and verified the same and any
ignorance / claim in this regard will not be accepted at a later stage. Exception has
been provided for accounts opened by Corporate Business Correspondents
(BC)/Business Facilitators (BF).
2.43.7 Corporate BC/BF will collect the KYC documents from the potential customers as
per agreement.
2.43.8 Corporate BC/BF will verify the photocopies of the KYC documents with originals.
2.43.9 Corporate BC/BF will certify having “ seen and verified” the original documents
and submit the same along with the application form to the Branch.
2.43.10 Since signature proof may not be available for the target customers, the
signature made on the Account Opening Form in the presence of Corporate BC/BF
and confirmed certified by them will be considered as signature of the applicant.
2.43.11 After scrutinizing the documents received from Corporate BC/BF, Branch
officials will certify Account Opening Forms and submit the same to RPU.
2.43.12 Name, Photo (recent), address and signature on AOF should match with
documents submitted for KYC. Signature on AOF should match with the initial deposit
cheque, if given. Branches should mention the addresses of all prospective customers in
full and without leaving any vital information (like landmark, road name) in order to
avoid any customer issues with regard to deliverables or any other correspondence
with the customer.
2.43.13 If the communication address is not a local address, branches should

check up the need for opening such an account in the branch and should satisfy
themselves.
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2.43.14 For accounts opened with initial cash deposit –

a. The customer should visit the branch to deposit cash;
b. Form 60 or PAN card should be obtained (Form 60 should be
accompanied with proof of address);
c. In respect of Accounts of Individuals when account is opened with
proper KYC documents for ascertaining ISA, BOVR is not ordinarily
required, except in case of doubt on any aspect including the
documents itself. However BOVR as per Annexure VIII is necessary in
cases of opening an Individual Current Account with Cash as initial
payment.
2.43.15 If initial deposit is cheque then a Xerox copy of the cheque shall
accompany the AOF.
2.43.16 AOF requirements will be deemed incomplete till successful clearance of

cheque.
2.43.17 Vernacular letter as per Annexure XVI may be obtained, in case the
customer signs in a regional language, after explaining to him / her, the nature of
documents being signed and the purpose. The letter is not mandatory requirement and
in case customer does not want to give the declaration, the same shall not be insisted
upon.
2.43.18 CUSTOMER PROFILE duly filled for all customers should accompany the
AOFs.
2.43.19 If all joint account holders are members of the same family, collection of
separate document for mailing address verification may not be insisted upon. Same
Family is defined as blood relations with common surnames and common mailing
address.
2.43.20 In case, some close relatives, e.g. wife, son, daughter and parents, etc.
who live with their husband, father / mother and son, as the case may be, want to
open an account and document , as required for address verification while opening
43
the account, are not in their name, an identity document and address proof of the
relative with whom the prospective customer is living along with a declaration from the
relative as per Annexure XVII that the said person (prospective customer) wanting to
open an account is a relative and is staying with him / her can be obtained. Any
supplementary evidence such as a letter received through post can be used for further
verification of the address. If a document showing the relationship is also showing the
address, then the declaration as per annexure XVII need not be insisted upon (For
example in a passport, the relationship between the husband and wife is always shown.
Though the passport is that of the husband, the wife‟s account can be opened with the
address proof as shown in the passport, if the wife is not able to provide a valid address
proof, as per table A in her name).
2.43.21 PAN card is to be obtained for all current accounts and accounts
opened with any scheme codes falling under Preferred Category and Royale Category
excluding NRE accounts. PAN card may not be insisted from prospective clients who
are otherwise exempt from taxation u/s 10 (26) of The Income Tax Act, 1961 (Presently
some categories of individuals like those of North Eastern States except Assam and
Sikkim, are exempted from taxation subject to some conditions). For the rest of the
cases, branches should obtain PAN on best efforts basis at the time of account opening
and at the time of customer Identification Updation exercise. In certain exceptional &
genuine cases where the prospective account holder is not able to provide PAN, the
reasons for the same should be ascertained and the Regional Head of the Business may
approve exceptions in this regard. Branches should follow up and obtain PAN from such
clients and ensure to update the same in Finacle in one month and in any case not
later than three months. This measure is purely a temporary relaxation not a total or
complete waiver.
2.43.22 In order to facilitate effective monitoring and to ensure that PAN card or
number has been obtained and updated for all Current, Preferred and Royal category
accounts , Branch is required to generate a report under menu option “IBKAWPAN”
which will provide details of accounts opened without PAN. This option shall provide
summary of all accounts of the branch under relevant scheme codes for which PAN
number has not been updated in the system. The details of scheme codes at present
44
covered in the report are RCBLK,

RCEDN,RCGOV,RCNGO,RCFCR,RNCOB,UCCBK,UCOBK,RSCOB,RCFOB,RCDOB, RCISA,
RCOSA,RDBCA, RZRCA,RCEFC, RCROW,RCLMB,RCPMB,RCICA,RCPIC, RCSTF,
RSEKO,RSEPR,RSERF,RSERI,RSERO,RSHNW,RSPFP, RSPRF, RSPSO, RSPST, RSRPN, RSRPP.
2.43.23 The report shall be generated by branches once in a month and action
taken with regard t6o getting the PAN updated needs to be recorded in the report. The
report needs to be checked by the SOM of the branch.
2.43.24 Branch should check the given PAN Card online, before submitting the
AOF to concerned RPU. The link for this is available under Operations>> CPU>>
Hotline>> Online PAN Verification site on the Banks intranet.
2.43.25 Branches should obtain the details of Beneficial Owner (as explained in
Appendix I) for all the accounts proposed to be opened.
a. The details of BO should be obtained during the normal course of

interaction with the client and also at the time of Customer Identification
Updation process (as explained in Para 5 under Chapter II below).
b. It is necessary to identify BO for all Juridical Person (A Juridical Person is

defined as the one created by law and recognized as a legal entity). Thus
even for entities such as Sole Proprietary Concern, Partnership Firm,
Government Departments, Government Institutions, Government
Corporations, Government Bodies, Government Enterprises, HUFs, Joint
Ventures, Banks, Self Help Groups where there is apparent clarity in ownership
and controls Pattern, BO should be identified. As a result of this there could
be no account of a Juridical Person which does not have a BO.
c. Government of India, Vide its Notification dated August 27, 2013 has given
the details for determination of BO (as per Appendix I) for certain entities. For
those entities not mentioned in the Government Notification, BO shall be
identified progressively by using the following matrix. If the BO is identified in
the first step, there is no necessity to move to the second step and so on.
45
I. Ownership
II. Share of Profits
III. Exercising control through other means such as voting Rights,
agreement, arrangement etc.
IV. Senior Management Official
d. In cases like Housing Societies where all the members are equal /
proportionate owners, for the purpose of identification of BO, the control of
management of the activities of the society, based on the arrangement
decided by the society could be the basis. However, Branch should obtain
complete list of office bearers of the Society.
e. It has also been clarified by RBI that identification of BO means identifying

a Natural person (A Natural Person is a human being) behind a Juridical
Person. Thus there cannot be a situation where a non-individual is a BO.
f. RBI has also clarified that BO should be identified every time an account is
opened as a part of the on-going due diligence and Customer Identification
(CID) Updation process.
g. A declaration of BO shall be obtained from the client at the best effort

basis (as per Annexure XVIII), at the time of account opening. However,
branches are free to identify BO as per the process mentioned above and
intimate the same along with the AOF (as per Annexure XIX) to enable the
RPU to capture the same in Finacle as per the process. Branches should
obtain an Identity proof of BO (as mentioned in Table A above). In case the
BO is an existing customer of the bank, the customer ID of the BO should be
obtained. Branch should subject the BO also to watch list scanning the way it
is being done for the proposed client. A separate record shall be added in
ACM for entering details of each BO separately in an account.
h. Thereafter, the details of BO shall be updated by respective RPUs in

Finacle using OAAC (for new customers) or ACM (for existing customers)
menu option under sub menu „A‟. The details may be updated by entering
details of BO under “Other” as Relation Type and „BENEI‟ as Relation Code.
46
The Identity of the BO should be captured in remarks column. If the BO is an

existing client, the client ID of the BO should be captured in the additional
field of the ACM.
2.43.26 The details of POA / Mandate Holder shall be updated by respective RPUs
in Finacle using OAAC (for new customers) or ACM - A (for existing customers) menu
options. The details may be updated by entering details of POA / MH under “P” as
Relation Type and POHLR / MHLR as the case may be as Relation Code. The details of
ISA Documents of POA / MH should be captured in Nat address column. If the POA /
MH is an existing client, the client ID of POA/MH should be captured in the additional
field of the ACM. The above updations shall be done for all the accounts proposed to
be opened with immediate effect. Branches are advised that whenever an account is
being subjected to Customer Identification Updation (CID) process, the POA / MH
should also be subjected to CID Process.
2.43.27 Whenever a prospective client approaches the Bank for opening an

account, branch should discuss with him / her / them as to whether he / she / they
have already a relationship (in the same capacity) with the Bank. If so, the account
should be opened only under the existing ID. In order to facilitate the branches to
search any existing relationship of the prospective customer with the Bank, a Finacle
menu option "MULCUS" is available. Through this menu option the branch can search
for the existence of the prospective customer in the existing data base of the Bank on
basis of PAN, Name, Date of Birth, PIN Code or Mobile Phone number. In case any one
of the above criteria relating to the prospective customer matches with the Customer
Database already available in the Bank, the result of such exercise shall be displayed in
Finacle and branch should accordingly open the account in the new / existing client
ID. It is the responsibility of the SOM/ASOM to ensure that the menu option "MULCUS" is
used before forwarding the Account Opening Form to RPU for onwards processing with
immediate effect. This is applicable only to new relationships. MULCUS should also be
checked before offering a new account under welcome kit, express account and any
other pre opened account and also any loan account.
47
2.43.28 The details of Village / Town Census Code also known as Area code (a 16
digit number having first 2 digits as State Code, next 3 digits as District Code, next 5
digits as Sub District Code (Taluk) and last 6 digits as Village Code) has to be captured
for each customer in Finacle at Customer Level. To know the area code for a particular
address, branch should use CUMMDTL menu option in Finacle by selecting the codes
(using F2 function key) based on the State, District, Sub district (Taluk) and village of the
customer. Whenever a new account opening form is being sent by branch to RPU, the
branch should mention the area code of the customer prominently near the column
PINcode in the form. If branches find that the details of the villages etc., relating to their
client is not available / correct, they should take up with FI Department for suitable
change / update in the master in Finacle. RPUs shall update the Area code at CUMM
level by visiting # Screen. Since the customer ID cannot be generated without giving
Area code, branches must mention the area code in the AOF to avoid the same
getting rejected.
2.43.29 Reserve Bank of India (RBI) & Indian Banks‟ Association (IBA) have been
regularly sending caution advices to Banks listing details of undesirable individuals and
entities. The said list is available and is updated by Audit Department at regular intervals
on Banks Intranet >> Departments>> Audit>> Fraud Monitoring>> Caution Advices. As a
preventive measure branches should carry out an additional check (along with
adherence of KYC & AML guidelines) on the list of caution advices and ensure that the
name of the proposed customers is not listed in any of the caution advices listed (RBI,
IBA, Errant third party entities identified by RBI & IBA) before forwarding the account
opening form to RPUs for processing.
2.43.30 All documents obtained for customer KYC shall be checked by the
Branch official with the original documents and he / she shall give a confirmation to this
effect in the copy of the documents except for accounts sourced by Corporate BC/BF.
SOM / ASOM would scrutinize AOF & KYC documents for compliance of extant KYC
norms of the Bank and sign the Account Opening Memorandum as per Annexure XX
accordingly. After satisfying himself / herself, the KYC shall be certified by Branch Head
and shall ensure that accounts are monitored as per the guidelines of the Bank.
48
Accounts would be opened by CPU / RPUs after the complete account opening form is
received from the branches.
2.43.31 Branches should be careful while opening account of Multi-Level

Marketing (MLM) agencies that mobilize large amounts of deposits from the public with
promise of high returns. Inquiries should be made with clients about the nature of
business and related transactions that will be put through the account.
2.43.32 Wherever customer provides Aadhaar card / e-Aadhaar branches should

send a duly verified photocopy of the Aadhaar card / e-Aadhaar, along with account
opening form to RPU so that the same can be captured at client level. Branches should
proactively request the existing and prospective clients to provide the Aadhaar
number, where available. In case of e-Aadhaar, Branches should check the same on
Internet (as per the Process provided in Appendix VI). Similarly, they should get the
information filled in the Miscellaneous Request Form (Point No. 4) as per Annexure XXI to
link his / her account to the Aadhaar number for electronic transfer of subsidies and
also for using the Aadhaar number and bio-metric information for providing Aadhaar
Authentication Services. Customer mobile number should invariably be obtained in the
form and customer should be informed that the said mobile number will be updated in
the Banks records for all further communications. A declaration to that effect is also
available in the form. Branches shall provide acknowledgement (perforation part) of
the miscellaneous request to the customer. Once the Aadhaar number is seeded in the
account, an SMS shall be sent to customer communicating the same.
2.43.33 Aadhaar Number can also be seeded in the respective customer‟s

account based on communication received from Government Departments at State /
Central Government level and also from District Level authorities (District Collector etc.).
Branches should ensure that the information / copy of the Aadhaar card so received
from the departments are properly authenticated by the concerned department. A list
of such cases should be forwarded to respective RPUs along with accompanying
records for enabling RPUs to seed the aadhaar number.
2.43.34 As a part of KYC compliance, branches should undertake tele-verification

of the prospective client. Tele-verification helps the branch to know the customer‟s
49
intentions/willingness to open the account and also to confirm that the account
scheme, facilities have been properly explained and understood by him. In order to
further simplify the tele-verification process, Illustrative questions that can be asked
during Tele-verification are provided in Appendix VII. Tele-verification shall be done for
all new relationships except Corporate Pay roll accounts. The same shall be carried out
by any officer or executive of the Bank.
2.44 FATCA and CRS
2.44.1 RBI vide its Circular no. RBI/2015-16/165 DBR.AML.BC.No. 36/14.01.001/2015-16

dated August 28, 2015 on Reporting requirement under Foreign Account Tax
Compliance Act (FATCA) and Common Reporting Standards (CRS), has advised that
India has signed the Inter-Governmental Agreement (IGA) with United States of
America (USA) on July 09,2015, for improving International Tax Compliance and
implementing the Foreign Account Tax Compliance Act (FATCA). India has also signed
a multilateral agreement on June 03, 2015, to automatically exchange information
based on Article 6 of the Convention on Mutual Administrative Assistance in Tax matters
under the Common Reporting Standard (CRS), formally referred to as the Standard for
Automatic Exchange of Financial Account Information (AEoI).
2.44.2 In this regard, Government of India has notified the amendments to

Income Tax Rules vide notification dated August 07,2015 and have added Rule 114F
(definitions), 114G (information to be maintained and reported) and 114H (due
diligence requirement) for operationalisation of IGA and CRS. Bank is required to submit
information regarding US reportable persons and other reportable persons in Form 61B,
which has also been notified with the above mentioned notification.
2.44.3 To comply with the reporting requirements through Form 61 B as

mentioned above, certain additional information and declarations are required to be
taken from all new customer ids created w.e.f November 01, 2015. Accordingly, Bank
has devised a new FATCA/CRS form required to be collected for new accounts being
opened in the system from November 01,2015. Separate forms required to be taken for
Individuals (click here) and Non Individuals (click here) are attached herewith.
50
2.44.4 These declarations are required to comply with FATCA 2010 requirements
which require financial institutions to obtain and report specific information regarding
their clients. No accounts will be opened by Regional Processing Units without duly filled
FATCA/CRS form.
2.44.5 A guide for filling the respective Annexures and advising documentary
evidence to be collected for Individuals and Entity (Non-Individuals), in case they are
reportable are attached as Appendix IX and Appendix X respectively. Updated
Guidance Note on FATCA (click here) and CRS and a press release on „Closure of
Financial Accounts‟ under Rule 114 H(8) (click here) is attached for reference.
2.44.6 It is clarified that FATCA/CRS annexures are required to be taken for all
type of Financial Accounts as given below:
 Savings Account
 Current Account
 Cash Credit/Overdraft Account
 Credit Card Account
 Prepaid Card Account
 Loan Account
 Term Deposit Account
 Beneficiary Client Account ( Demat accounts)
 Beneficiary House Account
 Clearing Member Pool Account
 PPF
 CGSL
2.44.7 If the customer has already been on-boarded and KYC compliant, then
for opening another account, it is not required to fill the KYC document and so is not
considered as new account. For example, if the account holder has a savings account
and opens a FD, then no KYC related forms are filled and only an instruction is given to
the bank to open a FD. In such case, the account should be considered as a Pre-
existing account.
51
2.44.8 However in case of a Pre-existing accountholder, if KYC is done for

another new account opened (e.g. the account holder has a term deposit and wishes
to open a current account, where for current account there is a new KYC form filled),
then it will be considered as a new account and FATCA/ CRS information will be
required to be taken on account opening. Similarly, for example, if any new Customer
directly opens FD , without any existing Customer id, then the FATCA/CRS annexure
needs to be taken from them .
2.45 Account Portability (Transfer of liability Accounts from one Branch to another):
a. Transfer of account from one branch to the other should be permitted freely on
request by the client and it should be ensured that Clients are not
inconvenienced in this regard. The following guidelines should be followed in this
regard:
 With inter-branch connectivity, customers can access their accounts and
transact permitted business from any branch. The need for transfer of a
deposit account from one branch to another would therefore generally
arise only in case of operative accounts like Savings and Current account
though Term Deposit accounts can also be transferred, subject to Tax
Deducted at Source (TDS) issues, if any.
 The Customer can give the request either at the transferor or transferee
branch. If the request is received at the transferee Branch, confirmation of
the transferor branch should be obtained by the transferee branch,
before proceeding further with the request.
b. Full KYC once done by one Branch shall be valid for transfer of account to
another Branch. In case there is a change in address or contact details of the
customer, in order to comply with KYC requirement, he/she would be asked to
provide additional documents relating to his new address, contact telephone
no. etc., upon such transfer by the transferee branch.
i. If the above instructions could not be immediately complied by

customers who have transferable jobs or those who migrate for jobs,
the existing accounts of such customers may be transferred by
transferor branch to the transferee branch without insisting on fresh
52
proof of address and on the basis of a self- declaration from account

holder about his / her current address (refer to para 2.43.5) As the
change of Base Branch means change of MICR number in the
Cheque, the customer shall be asked to surrender his cheque book so
that a new cheque book can be issued to him.
ii. If there are any cheques outstanding to be paid in an operating
account, the account shall be transferred after payment of the
cheque or the same will be stopped for payment as per the request of
the Customer.
iii. Similarly, if any cheques are outstanding to be credited (in clearing as
well as those cheques sent to outstation for clearing), the transfer shall
be deferred till their realization.
iv. ATM debit cards need not be surrendered by the customer in case of
transfer of account from one branch to another.
c. The Request received from the Customer and the documents received, if any
shall be forwarded to the respective RPU for making change in the Base Branch
of the Client. Once the Base Branch is changed the Customer should be
intimated by the transferor / transferee Branch (the branch that received the
request letter from the Customer) accordingly.
2.46 Processing of Miscellaneous Requests at Branches
2.46.1 Requests received from the customer for updating the Customer / Account
Details is termed as „Miscellaneous Request‟. Updating of Miscellaneous Requests could
be either Bank induced or Customer induced and is an on-going process. While the
Customer details updated on account of mandatory and periodical KYC exercise is
Bank induced, normal updating of details, based on the request of customer, such as
change in address, phone number, mode of operation is customer induced. It may be
noted that irrespective of the fact whether the activity is Bank induced or Customer
induced, the information is always provided by the Customer. Miscellaneous Requests
are uploaded at Customer / Account level in Finacle. Miscellaneous Requests include
the following:
53
Various Type of Miscellaneous Request

a) Change of Mailing Address/Permanent Address
b) Change of Scheme Code of Account
c) Change of Phone Number
d) Change of Mobile Number
e) Change of E-Mail ID
f) Updation of Pan /Passport / Aadhaar Number
g) Residential Status(from Resident to Non Resident and Vice Versa)
h) Transfer of Accounts from one branch to another Branch
i) Change of Account status from Minor to Major & Updation of DOB
j) Updation/ Deletion/ Change of Nomination
k) Change of Name
l) Change of Signature
m) Change of Signatory
n) Addition / Deletion of Name
o) Merger of Customer ID
p) Updation of Customer Identification / KYC/Profile Sheet
q) Appointment /Addition of Mandate Holder
r) Sweep In / Out Request for approved Scheme Codes
s) Updations of Standing Instructions
t) TDS Status (No TDS, 15G/15H etc)
u) Grouping of Accounts
v) Account requests such as Account Statement, Passbook, Cheque Book, Inet
Banking Password, Email Account Statement, SMS facility etc.
2.46.2 Presently all Miscellaneous Requests received at branches are consolidated at

the end of the day and forwarded by the branch receiving the request to the
concerned Regional Processing Unit (RPU) to enable them to update Finacle and also
to archive these requests. This ensures that the information will be handy for any future
reference / investigation / dispute.
2.46.3 With the introduction of Core Banking Solution (CBS), it is expected that
customers of Bank should be treated uniformly at any sales or service delivery point. RBI
has also advised that there should be no discrimination against their own customers on
the basis of one branch being designated as “home” or “base” branch.
An illustrated list of services which should be provided by all branches to customers

whether Home or Non Home is reiterated below
a) Change of Mailing Address/Permanent Address

b) Change of Scheme Code of Account
c) Change of Phone Number
d) Change of Mobile Number
54
e) Change of E-Mail ID
f) Updation of Pan /Passport / Aadhaar Number
g) Residential Status(from Resident to Non Resident and Vice Versa)
h) Transfer of Accounts from one branch to another Branch
i) Change of Account status from Minor to Major & Updation of DOB
j) Updation/ Deletion/ Change of Nomination
k) Change of Name
l) Change of Signature
m) Addition / Deletion of Name
n) Merger of Customer ID
o) Updation of Customer Identification / KYC/Profile Sheet
p) Appointment /Addition of Mandate Holder
q) Sweep In / Out Request for approved Scheme Codes
r) Updations of Standing Instructions
s) TDS Status (No TDS, 15G/15H etc)
t) Grouping of Accounts
u) Account requests such as Account Statement, Passbook, Cheque Book, Inet
Banking Password, Email Account Statement, SMS facility etc.
Services related to Cash Deposit and Payments will be as advised in the SOF for the
relevant scheme code. Non Home Branch however should ensure that all the
Operational guidelines which are prescribed for the above activities are adhered to
and in case of any doubt or suspicion, clarification needs to be sought from the Home
Branch.
For requests given in non home branches like Closure of account, non-home branch
should accept the request and forward the same to Home Branch for taking further
necessary action to avoid inconvenience to the customers.
2.46.4 To ensure better operational control on this vital area, the following guidelines
are issued:
a) Wherever possible and in line with the KYC Policy of the Bank, the Customer
should provide documentary evidence for such miscellaneous requests. The
original of the document should be verified and the fact evidenced in the copy,
before sending the same to RPU for making suitable changes in Finacle.
b) If the request is for addition of name to an existing account, the prospective
account holder whose name is proposed shall be physically present along with
the existing account holder/s. The nature of the existing account along with the
55
proposed mode of account holding should be explained to the prospective

account holder and he should be made to understand his rights / responsibilities
/ liabilities. Suitable noting should be made in the request. ISA documents of the
2nd applicant should be obtained.
c) Similarly, if the request is for deletion of name from an existing account, the
account holder whose name is proposed to be deleted should be present. The
implication of deletion of the name should be explained to him and the same
should be recorded in the request.
d) If the request is for change of signature, the account holder should be present
and he should be made to sign the old signature and new signature in the
presence of the SOM / BH. The reason for substantial difference, if any, between
old and proposed new signature should be enquired, understood and satisfied
before forwarding the request to RPU.
e) Mobile number of a customer has become very critical information for the Bank.
Our Bank provides SMS alerts and updates on the activity of accounts of the
customer on the Registered Mobile number. Our Bank also has a Mobile based
application service that can be used from registered mobile number for the
utmost convenience in Banking. Our Bank also provides Online Shopping
Password (OSP) on the registered Mobile number and various other One Time
Passwords are shared on the registered mobile number for payment services like
Immediate Payment Service (IMPS) etc. Considering the criticality factor and
importance of Mobile number, any request for change in Mobile number of a
customer should be given in person by the customer by visiting any of the
branch of the Bank and supported with document evidencing that the mobile
number is registered in his name. In case the customer is using a prepaid mobile
connection, the application should be accompanied with certified copy of one
of the Officially Valid Document.
f) All miscellaneous requests should be approved by the SOM or BH of the branch
before sending to RPU.
2.46.5 Name Change request shall be authenticated/ approved by Branch Head.

Branch officials should be convinced about the genuineness of the Name Change
56
request, and accordingly, any other documents as felt necessary by the approving
authority shall be obtained from customer. The documentation & formalities required for
name change are advised below.
a) Change in the name of female accountholder consequent to her marriage:-
 Marriage certificate issued by the competent authority or

 Certificate issued by the priest (who has performed the marriage
ceremony) along with the original marriage invitation
 In case where neither a marriage certificate issued by a competent
authority nor a certificate issued by a priest, as above, is available, the
branch shall obtain the marriage invitation card and an affidavit-cum-
undertaking from the customer, through which the customer shall
undertake to submit the marriage certificate within 3 months from the
date of affidavit. It is the responsibility of the branch to ensure that a
marriage certificate is obtained within the timeline of 3 months.
b) Change in the name of female account holder on account of a divorce and if
she opts for operation of the account in her maiden name:-

A copy of divorce decree and the Gazette notification in which she has opted
to be known to the public in her maiden name shall be obtained.
c) Change in the name by account holder of his/her own volition:-
A copy of the Gazette notification in which the change in the name has been
published shall be obtained.
d) Proprietorship firm: A modified / fresh certificate issued under the Shops &
Establishment Act, if applicable, or any other license/permission obtained by the
account holder in the new name, evidencing the identity of the proprietorship
concern (and also evidencing the ownership) in the new name.
e) Partnership firm: A fresh registration certificate issued by the Registrar of Firms in
the new name shall be obtained. If the same is not readily available, the branch
may depend on the extracts of entry relating to the firm showing the change in
57
the name from the office of Registrar of Firm. Branch shall also obtain the
certified copy of the modified partnership deed showing the new name of the
firm. While effecting the change in the name, Branch shall also verify whether
there is any change in the persons operating the Bank accounts.
f) Company: Branch shall obtain fresh Certificate of Incorporation or Corporate

Identity number issued by the Registrar of Companies as advised in Para 2.31
above.
2.46.6 Whenever a customer gives a miscellaneous request form seeking Change of his
Address, the change of address would be carried out at the client level and also at all
accounts of the customer wherein he is the sole / first account holder. If a customer
requests for maintaining two or more different addresses at customer and account
level, the Branch should satisfy themselves about the need for maintenance of different
addresses. Typical cases will be entities that will have different Branches / Division like
LIC of India having its Divisional office at a particular location and having many
Branches under the division. The address in each of the account can be different
indicating a different Branch. In such cases, the Branch may accordingly propose
different address while forwarding the AOF to their RPU for opening of the account.
2.46.7 The above list is only indicative and branches should take all precautions &
satisfy themselves that the Miscellaneous Request so received is reasonable / genuine
and in no ways causes any suspicion or possibility towards occurrence of a fraud. For
the convenience of the branches and also to have uniformity across the branches a
format for Miscellaneous Request (for Individuals / Sole Proprietor) (as given in Annexure
XXI). Branches should note that the said request form covers most of the normal
requests that are received at their front office. Branches should get separate requests
from clients if the miscellaneous request is for purpose other than those expressly
mentioned in the said form.
3. Transaction Monitoring
3.1 On-going monitoring of customer transactions is an essential and integral

element of KYC procedures and AML standards. The extent of monitoring will depend
on the risk sensitivity of the account. There is an imperative need for continuous
58
monitoring of customer transactions and reporting of any instances of suspicious

transactions to the Principal Officer of the Bank.
3.2 Special attention needs to be paid to all complex and unusually large
transactions which has no economic purpose.
3.3 Transactions that involve large amounts of cash inconsistent with the normal and
expected activity of the customer shall also attract special attention. Very high
account turnover inconsistent with the size of the balance maintained may indicate
that funds are being 'washed' through the account. High-risk accounts shall be
subjected to intensified monitoring.
3.4 Branches should verify the records maintained by Cooperative Banks, pertaining
to issuance of „At Par‟ Cheques covering, inter alia, applicant‟s name, account
number, beneficiary‟s details and date of issuance, should there be any doubt. If any
deviation / discrepancy / irregularity is observed, branches should take appropriate
action including recommending to AML Cell for filing Suspicious Transaction Report (STR)
3.5 Accounts of Multi-level Marketing (MLM) Companies need special attention.

Such accounts may be misused for defrauding public by luring them into depositing
their money with the MLM Company by promising a high return. Such depositors are
assured of high returns and issued post-dated cheques for interest and repayment of
principal. So long as money keeps coming into the MLM Company‟s account from new
depositors, the cheques are honoured but once the chain breaks, all such post-dated
instruments are dishonoured. This results in fraud on the public and is a reputational risk
for the Bank. Further, branches should closely monitor the transactions in accounts of
MLM companies. In cases where large number of cheque books are sought by the
company, there are multiple small deposits (generally in cash) across the country in one
account and where a large number of cheques are issued bearing similar
amounts/dates, the branch should carefully analyse such data and in case they find
such unusual operations in accounts, the matter should be immediately reported to
AML Cell at CPU, to enable them to file a Suspicious Transaction Report (STR) in such
cases.
3.6 Branch should ensure that any remittance of funds by way of demand draft,
mail/telegraphic transfer or any other mode and issue of travellers‟ cheques for value of
59
Rupees fifty thousand and above should be effected by debit to the customer‟s
account or against cheques and not against cash payment.
3.7 Branch should monitor all series of cash transactions integrally connected to
each other which have been individually valued below rupees ten lakhs or its
equivalent in foreign currency where such series of transactions have taken place
within a month and the monthly aggregate exceeds rupees ten lakhs or its equivalent
in foreign currency.
3.8 If any suspicion is raised, branches should take appropriate action including
recommending to AML Cell for filing Suspicious Transaction Report (STR) through iAML
software available on Intranet>>Other Links>>AML. An Indicative alert indicators are
available in Appendix VIII
3.9 In case of transactions carried out by a non-account based customer, that is a

walk-in customer, where the amount of transaction is equal to or exceeds rupees fifty
thousand, whether conducted as a single transaction or several transactions that
appear to be connected, the customer's identity and address should be verified. If
there is a reason to believe that a customer is intentionally structuring a transaction into
a series of transactions below the threshold of Rs.50,000/-, identity and address of the
customer shall be verified and filing a STR to FIU-IND may be considered.
3.10 The entities that are permitted to open Savings Account and those permitted to
open only Current Accounts are given in the Manuals of Instructions of the Bank.
Branches should be guided by the same before sending the AOF to their RPU. Broadly
business transactions are routed through current account and savings transactions are
routed through savings accounts.
(a) Branches shall discuss with the client before account opening as to what
purpose the proposed savings account is being opened. If it was indicated / felt
that the proposed account is going to be used for routing business transactions,
the prospective client should be told to open a current account instead.
(b) Branch should monitor all savings accounts, on an on-going basis and
proactively ensure that business transactions are not routed through savings
60
account. If they observe any such business transactions in savings account, they
should call such customer to the branch and advise him to refrain from routing
business transactions and advise account holder to open a separate current
account for his business transactions. Branch should also clearly indicate to the
client that the SOF of the Account opening form is presently having a provision to
freeze the account under such circumstances.
(c) If the customer has not stopped using the said saving account for routing
business transactions, a letter may be issued to the customer drawing his
attention to the earlier meeting and asking him to refrain from using the savings
account for business purpose and open a current account instead.
(d) If there is no positive response even for the said letter, a final letter would be
issued through Registered Post asking him to open a current account failing
which the bank shall be constrained to close the account by giving a date for
the same. It should be noted that since these are HNI clients, the efforts of the
branch should be to prevail upon and convince the client and make him open a
Current Account instead of closing the existing savings account.
4. Risk Management:
4.1 Bank is exposed to the Reputation, Compliance, Operational and Legal risks
arising out of Money Laundering activities and non-adherence of KYC standards. For
the purpose of effective implementation of KYC policy and AML Standards, Anti Money
Laundering Cell (AML Cell) headed by the Principal Officer monitors transactions in all
customer accounts on concurrent basis. Any transaction found to be suspicious by the
branches, shall immediately be reported to AML cell.
4.2 Whenever there is any suspicion of money laundering or terrorist financing or
when other factors give rise to a belief that the customer does not, in fact, pose a low
risk, full scale Customer Due Diligence (CDD) should be carried out before opening an
account.
4.3 Whenever there is any suspicion of money laundering or financing of the
activities relating to terrorism or where there is any doubt about the adequacy or
veracity of previously obtained customer identification data, the due diligence
61
measures should be again taken including verifying the identity of the client and
obtaining information on the purpose and intended nature of the business relationship.
4.4 Opening and/or holding of an account on behalf of a client/s by professional

intermediaries, like Lawyers and Chartered Accountants, etc., who are unable to
disclose true identity of the owner of the account/funds due to any professional
obligation of customer confidentiality is not allowed. Further, professional intermediary,
who is under any obligation that inhibits Bank's ability to know and verify the true
identity of the client on whose behalf the account would be held or beneficial
ownership of the account or understand true nature and purpose of transaction/s,
should not be allowed to open an account on behalf of a client.
4.5 In the circumstances when it is believed that no longer Bank can be satisfied that
it knows the true identity of the account holder, an STR with FIU-IND shall be filed.
5. Regular updation of Customer Identification Data (CID):
5.1 Customer identification data (including photograph/s) shall be periodically

updated after the account is opened. As per RBI guidelines the periodicity of such
updation (obtaining Full KYC) shall not be less than once in ten years in case of low risk
category customers, not less than once in eight years in case of medium risk categories
and not less than once in two years in case of high risk categories.
5.2 In case of no change in status with respect to their identities and addresses for
those customers who are categorised as „low risk‟, Branches need not seek fresh proofs
of identity and address at the time of periodic updation. A self-certification by the
customer to that effect shall suffice in such cases. In case of change of address of such
„low risk‟ customers, they can merely forward a certified copy of the document (proof
of address) by mail/post, etc. Branches need not insist on physical presence of such low
risk customer at the time of periodic updation.
5.3 Bank sends letters along with the „Customer Identification form‟ as per Annexure
XXII to all customers who fall under the category as mentioned above for a financial
year to update CID. The branch has to obtain a duly filled form from their customers
62
along with the required KYC documents. The documents such obtained from the
customers shall be sent to the respective RPUs for updating the same in the system.
5.4 Whenever the letters sent by Bank (as per para 5.3) are undelivered, the same shall
be returned to the home branch of the customer to enable them to contact the
customer for obtaining KYC details.
5.5 For easy identification of such accounts by the Branches, a pop up (“Periodic KYC
updation is Pending for this Customer. Please obtain and update the KYC on urgent
Basis”) gets enabled in the system.
5.6 RBI, has expressed its concerns about non-submission of KYC documents by
customers at the time of periodical updation which often leads to KYC non-compliant
accounts continuing to be operated and making them vulnerable to money-
laundering and terrorist financing activities. RBI has further instructed that in case of
non-compliance of KYC requirements by the customers (under any risk category)
despite repeated reminders by the Bank, „partial freezing‟ shall be imposed by
disallowing all debits and allowing only credits in such KYC non-compliant accounts in a
phased manner after giving due notice of three months initially to the customers to
comply with KYC requirement and followed by a reminder for further period of three
months. If the accounts are still KYC non-compliant after six months of imposing initial
„partial freezing‟ bank shall disallow all debits and credits from/to the accounts. Where
Branch would be unable to apply appropriate KYC measures due to non-furnishing of
information and / or non-cooperation by the customer, Branch shall consider closing
the account or terminating the banking/business relationship after issuing due notice to
the customer as per Annexure XXIII explaining the reasons for taking such a decision.
Such decision would be taken by the Branch Head. Branch shall be guided by the
guidelines given in the Customer Severance Policy hosted in intranet under BOSPD.
5.7 Branches should ensure to scan the lists as given in para 2.43.4 while undergoing
regular updation of identity of the customer.
5.8 Branches are advised to follow-up with the customers at regular intervals for periodic
updation of KYC in their accounts to avoid any customer grievances.
63
5.9 While the branch is revisiting the KYC of a Corporate Pay roll client under Customer
Identification Updation (CID) exercise, there would be no need to obtain the signature
of the employer subject to:
(a) Completing remaining KYC process as mentioned in Para 2.19 above (and)
(b) Branch Head confirming that the said client is still receiving salary from the same
employer.
5.10 The CID exercise can be complied by the customer, by visiting any branch of the
Bank and not necessarily the home branch, as the Bank is working on Core Banking
Software.
64
CHAPTER - III
OBLIGATIONS UNDER PREVENTION OF MONEY LAUNDERING ACT 2002 (PMLA, 2002)
A. Section 12 of PMLA issued by the Central Government, Ministry of Finance,

Department of Revenue vide its notification dated July 1, 2005 and subsequent
notification, places certain obligations on every banking company, financial institution
and intermediary, which include:
1. Maintenance of records of transactions

2. Information to be preserved
3. Maintenance and preservation of record
4. Reporting to Financial Intelligence Unit – India
1. Maintenance of records of transactions: As per the PMLA, proper record of

transactions prescribed under Rule 3 of PMLA has to be maintained properly. Details of
transactions required to be kept under PMLA are as under:
a) All cash transactions of the value of more than Rs. 10.00 lakh or its equivalent
in foreign currency.
b) All series of cash transactions integrally connected to each other which have
been individually valued below rupees ten lakhs or its equivalent in foreign
currency where such series of transactions have taken place within a month
and the monthly aggregate value of such transactions exceeds rupees ten
lakhs or its equivalent in foreign currency.
c) All transactions involving receipts by non-profit organisations of value more
than rupees ten lakh or its equivalent in foreign currency.
d) All cash transactions where forged or counterfeit currency notes or bank
notes have been used as genuine or where any forgery of valuable security
or a document has taken place facilitating the transactions.
e) All suspicious transactions whether or not made in cash and by way of:
i. deposits and credits, withdrawals into or from any accounts in whatsoever
name they are referred to in any currency maintained by way of :
 cheques including third party cheques, pay orders, demand drafts,
cashiers cheques or any other instrument of payment of money
65
including electronic receipts or credits and electronic payments or

debits, or
 travellers cheques, or
 transfer from one account within the same banking company, financial
institution and
 intermediary, as the case may be, including from or to Nostro and
Vostro accounts, or
 any other mode in whatsoever name it is referred to;
ii. credits or debits into or from any non-monetary accounts such as demat
account, security account in any currency maintained by the banking
company, financial institution and intermediary, as the case may be;
iii. money transfer or remittances in favour of own clients or non-clients from
India or abroad and to third party beneficiaries in India or abroad
including transactions on its own account in any currency by any of the
following:-
 payment orders, or
 cashiers cheques, or
 demand drafts, or
 telegraphic or wire transfers or electronic remittances or transfers, or
 internet transfers, or
 Automated Clearing House remittances, or
 lock box driven transfers or remittances, or
 remittances for credit or loading to electronic cards, or
 any other mode of money transfer by whatsoever name it is called;
iv. loans and advances including credit or loan substitutes, investments and
contingent liability by way of:
 subscription to debt instruments such as commercial paper,
certificate of deposits, preferential shares, debentures, securitized
participation, inter bank participation or any other investments in
securities or the like in whatever form and name it is referred to, or
 purchase and negotiation of bills, cheques and other instruments,
or
66
 foreign exchange contracts, currency, interest rate and

commodity and any other derivative instrument in whatsoever
name it is called, or
 letters of credit, standby letters of credit, guarantees, comfort
letters, solvency certificates and any other instrument for settlement
and/or credit support;
v. collection services in any currency by way of collection of bills, cheques,
instruments or any other mode of collection in whatsoever name it is
referred to.
f) All cross border wire transfers of the value of more than rupees five lakh or its
equivalent in foreign currency where either the origin or destination of fund is
in India;
g) All purchase and sale by any person of immovable property valued at fifty
lakh rupees or more that is registered by the reporting entity, as the case may
be.
2. Information to be preserved: As per the PMLA, all necessary information in
respect of transactions referred to in Rule 3 of PMLA has to be maintained properly, to
permit reconstruction of individual transaction, including the following information:
a) the nature of the transaction;

b) the amount of transaction and the currency in which it was denominated;
c) the date on which the transaction was conducted; and
d) the parties to the transaction
3 Maintenance and Preservation of record: Records containing information of all

transactions including the records of transactions detailed in Rule 3 has to be
maintained in hard or soft format.
i. Data to be preserved in a manner that allows data to be retrieved easily and

quickly whenever required or when requested by the competent authorities. Records to
be maintained for at least five years from the date of transaction between the bank
and the client, all necessary records of transactions, both domestic or international,
which will permit reconstruction of individual transactions (including the amounts and
67
types of currency involved if any) so as to provide, if necessary, evidence for

prosecution of persons involved in criminal activity.
ii. Records pertaining to the identification of the customer, beneficial owner and
his address (e.g. copies of documents like passports, identity cards, driving licenses, PAN
card, etc.) obtained while opening the account and during the course of business
relationship as well as business correspondence, are properly preserved for at least five
years after the business relationship is ended as required under Rule 10 of the Rules ibid.
The identification records and transaction data should be made available to the
competent authorities upon request.
iii. Record with regard to identity of clients and records in respect of transactions
referred to in Rule 3 can be maintained in hard or soft format.
iii. Background including all documents/office records/memorandums pertaining to

all complex, unusual large transactions and all unusual patterns of transactions, which
have no apparent economic or visible lawful purpose and purpose thereof should, as
far as possible, be examined and the findings at branch as well as Principal Officer level
to be properly recorded. Such records and related documents, should be made
available to help auditors, in their day-to-day work relating to scrutiny of transactions
and also to Reserve Bank/other relevant authorities. These records are required to be
preserved for five years as is required under PMLA.
4. Reporting to Financial Intelligence Unit – India : Information relating to cash and

forged or counterfeit currency notes or bank notes and suspicious transactions and all
transactions involving receipts by non-profit organizations of value more than rupees
ten lakh or its equivalent in foreign currency and cross border wire transfers of more
than rupees five lakhs are required to be reported to the Director, Financial Intelligence
Unit-India (FIU-IND) in respect of transactions referred to in Rule 3. For details of
reporting, Policy on KYC and AML may be referred.
CHAPTER – IV
1. Suspension and reactivation of suspended Customer Ids:
68
2.1 On review of the customer base of the Bank, the Customer IDs that either do not
have any account or have only closed accounts linked to them are suspended in
Finacle. Since customers do not have any active account with the Bank, it may not be
possible to collect revised KYC documents to activate their client IDs.
2.2 However there is a possibility of these customers approaching the Bank on a

future date to open new account/s. If such a request is received, the branch should
obtain revised KYC documents (Customer Information Updation Form for KYC and
Customer Profile Sheet) as per extant guidelines on CID exercise and send the same to
the respective RPU. RPU, on receipt of the said CID form would activate the Customer
ID, thereafter only the account can be opened under the said client ID.
69
CHAPTER - V
Conclusion:
The banking business is built on the complete KYC of the customers with whom the Bank
is entering into a relationship. In order to avoid the pitfalls of operational, compliance,
legal and reputation risks and consequential losses, it is of paramount importance to
scrupulously adhere to laid down procedures while opening and monitoring the
conduct of customer accounts / transactions. Hence it is crucial that all concerned,
fully understand the rationale of KYC/ AML policies and implement them in letter and
spirit.
The contents of this circular may be brought to the notice of all concerned at the
branch for meticulous compliance. Any laxity / lapse in following the instructions will be
viewed seriously and staff accountability / disciplinary action as deemed fit, and as
appropriate will be taken against the Branch Head / SOM/ ASOM and concerned staff.
It is overall responsibility of the Branch Head to ensure compliance of the above
instructions.
Sd/-
Ajoy Nath Jha
IDBI Bank Ltd. Chief General Manager
Mumbai Branch Operations Support and Policy Department
70
Annexure I
Customer Profile Format (Individuals)
Date:
1 Cust id
2 Account No.
3 Name
4 Residential status Resident / Non resident
5 Occupation Service Retired Self employed Housewife Others
Pl specify___________________________
6 If in service
Name of organization
7 If self-employed – nature of Trading
business
Manufacturing
Since specify
Year Services
Agriculture
Real estate
Other pl specify
8 If self-employed CA
professional
Doctor
Lawyer
Stock broker
Consultant
Others Pl specify
9 Annual Income
10 Expected transactions in
the account
11 Sources of Income Salary
Business
Agriculture
Others please specify
12 Residence Owned / Leased
Others Pl specify
13 CUSTOMERS SIGNATURE
For Bank‟s use
14 Level Level 1 Level 2 Level 3
15 Basis of Level
Categorization
16 SIGNATURE OF BRANCH
HEAD/SOM
71
Annexure II
Customer Profile Format (Non Individuals)
Date:
1 Cust id
2 Account No.
3 Account Title
4 Names and Address(es) of
proprietor/partners/directors
5 Purpose of opening account
6 Trading/Manufacturing/Services/
Nature of Business If Trading/Service please specify the nature of business
( _____________________________________________)
7 Registration No. IEC No.
Date of incorporation
Any other
8 Proprietorship/Partnership/Pvt. Ltd. Company/Public
Type of organization
ltd.co/Society/Association/Club
9
Registered Address
10 Annual Turnover (Please

Attach a copy of Latest Annual
Report
11 Transaction Profile based on
past trend i.e. Value of
Expected transactions likely to
be routed through the
account in a month/ quarter/
half year/ year. Latest Annual
report to be attached, In case
of new Firm, sales tax return of
the previous quarter to be
obtained or projected sales
may be accepted
12 Details of associate/allied
concerns and nature of their
business
13 Names and addresses of
clients. Details and nature of
foreign collaboration if any.
Pls attach a separate sheet if
required
I certify and declare that the information furnished herein are correct to the best of my
knowledge.
13 CUSTOMERS SIGNATURE
For Bank‟s use
14 Level Level 1 Level 2 Level 3
15 Basis of Level Categorization
15 SIGNATURE OF BRANCH
HEAD/SOM
72
Annexure III
वररष्ठ नागररक द्वारा स्व-घोषणा / Self-Declaration by Senior Citizen
(न्मन
ू तभ भल
ू म के गैय-न्मानमक स्टाॊऩ ऩेऩय ऩय ननष्ऩार्दत ककमा जाए)
(To be executed on non-judicial stamp paper of minimum value)
मजजस्रे ट/ नोटरी के समऺ जन्म नतथथ/ स्थान बताते हुए शऩथ-ऩत्र-नमन

ू ा
Specimen Affidavit sworn before a Magistrate/Notary stating date/place of birth
भैं .................... सऩ
ु त्र
ु / ऩत्नी/ सऩ
ु त्र
ु ी .................... वतिभान भें स्थान .......................... का ननवासी एतद्द्वाया
ननमनलरखखत घोषणा कयता/ कयती हूॉ :
भेया जन्भ ........... को ................... याज्म के ................. श्जरे के ……........................ स्थान ऩय हुआ था.
भेये ऩास जन्भ-तायीख तथा स्थान के सभथिन भें कोई दस्तावेजी प्रभाण नहीॊ है .
भैं शऩथ रेता/ रेती हूॉ तथा सत्मननष्ठा से घोषणा/ ऩुश्ष्ट कयता/ कयती हूॉ कक भेये द्वाया र्दमा गमा उक्त ब्मोया
सही है तथा भैंने ककसी तथ्म को निऩामा नहीॊ है अथवा अनुधचत ढॊ ग से प्रस्तत ु नहीॊ ककमा है .
I …………………S/o W/o D/o ……………….. presently residing at ………………… hereby state the
following:
I was born on ………………. at ……………… situated in the district ………….. in the State
of……….……………….. I have no documentary proof in support of my place and date of
birth.
I take oath and solemnly declare/affirm that the particulars furnished by me above are
correct and that I have not concealed or misrepresented any facts.
स्थान/ Place …………

र्दनाॊक/ Date …………..
वषि ............. के भाह ............... की र्दनाॊक ............... को सत्मावऩत ककमा जाता है कक उक्त शऩथ-ऩत्र भेयी
सवोत्तभ जानकायी एवॊ ववश्वास भें सत्म तथा सही है औय उसभें कोई जानकायी िुऩाई नहीॊ गई है .
Verified on this …………………… day of …………….. of the year …………….. that the contents of
my above affidavit are true and correct to the best of my knowledge and belief, and nothing in
material has been concealed there from.
उक्त शऩथ-ऩत्र की ववषम-वस्तु को भेये सभऺ ऩढ़ा गमा है .

The contents of the affidavit have been read out to me.
अलबसाऺी/ Deponent
अलबप्रभाखणत/ Attested
अलबप्रभाणन प्राधधकायी के हस्ताऺय तथा उसकी आधधकारयक भुहय/

Signature and official seal of attesting authority
नोट : शऩथ-ऩत्र को भश्जस्रे ट/ नोटयी द्वाया अलबप्रभाखणत ककमा जाए (नोटयी के भाभरे भें नोटयी स्टाॊऩ अऩेक्षऺत होगा)
Note: Affidavit to be attested by the Magistrate/Notary (In case of notary, notarial stamp would be
required)
73
Annexure IV
DRAFT OF UNDERTAKING FOR ACCOUNTS OF VISUALLY IMPAIRED PERSONS
(TO BE OBTAINED ON PLAIN PAPER)
The Branch Head,

IDBI Bank Ltd.,
__________________________ Branch
I,_____________________ aged ______resident of ______________________________________________

____________________District___________________State___________________________declare\, agree
and undertake to IDBI Bank Ltd., ________________________Branch (hereinafter referred to as
“Bank”) as follows:-
(a) That I am a * visually impaired person / person with disability of _____________ (describe
type of disability) for which I enclose appropriate proof.
(b) That the Bank has agreed to my request to:
A. Open a Savings Account and provide crossed Cheque Book facility with my Left/Right
Hand Thumb impression duly authenticated by your bank‟s authorized Official;
B. Allow cash withdrawals from the said Savings Account when I am personally present
before your authorized official who will facilitate filling up the cheque/withdrawal
slips;
C. Provide the facility of availing and operating the Safe Deposit lockers on your bank‟s
terms and conditions;
D. Provide Debit Card / Net Banking facilities on Your Bank‟s terms and conditions;
(hereinafter referred to as “facilities”)
( *delete if not applicable )
(c) That in consideration of the bank having agreed to provide the aforesaid facilities:
1. I agree that the Bank‟s providing the facilities shall be entirely at my own risk and
responsibility and I will not hold the Bank responsible in the event of any loss /harm
caused to me on account of the misuse of the facility at my instance/ on account of
my negligence.
2. I further state that the contents of this undertaking have been fully explained to me
orally by ________________________________, the authorized officer of the Bank and I
have understood the same fully.
Dated at_________________this______day of________________200__.
(Signature / Left/Right Thumb Impression): ________________________________________________
Name: ______________________________
Signed/ Left/Right thumb impression has been affixed by_______________________ in my presence
and I have explained the contents of aforesaid declaration and undertaking to him.
Dated at_________________this______day of________________20__.
(Signature of the Authorised Signatory of the Bank): _______________________________________
74
Annexure V
CUSTOMER DECLARATION FOR TRANSLATION OF DOCUMENTS THAT ARE IN FOREIGN

LANGUAGE
To,
The Branch Manager
IDBI Bank,
_____________ Branch
Dear Sir/Madam,
I, Mr/Ms. ____________________, wish to open an NRE/NRO/FCNR account with IDBI Bank Ltd. for
which I submit a copy of the following documents:
1. Passport
2. Visa
3. Other documents (please specify) ________________________
As the above documents are in foreign language that is not familiar to the Bank, I hereby state
the basic contents of the same for the information and records of IDBI Bank Ltd.
Particulars Passport Visa

Number
Date of Issue
Place of Issue
Date of Expiry
Type of Visa
I hereby state that by virtue of the above details mentioned/provided by me, I qualify to attain
the status of an NRI. I solemnly affirm that the above stated details are true, correct and
complete to the best of my knowledge and belief. I have not hidden any material information
from the bank to induce them to open the account at my request.
I am aware that the bank has agreed to open and allow me to operate the bank account
solely based on my affirmation as above. In consideration of IDBI Bank Limited agreeing to open
an NRI account in my name on the basis of the above declaration, I hereby keep IDBI bank
Limited, its successor and its officers saved against all losses and damages caused by opening of
the aforesaid NRI account on the basis of the above information provided by me.
Place:________________ Signature ______________________
Date:_________________ Name__________________________
75
Annexure VI
BRANCH OFFICIAL VISIT REPORT FOR FIELD VERIFICATION OF INDIAN

ADDRESS OF NRI CLIENT
I, ________________________________________________ (name and designation of the branch

official) have visited the Indian address mentioned in the account opening form of the NRI
customer___________________________________ (Name of the customer) and confirm that:
A. I have enquired with the NRI customer's family/relatives who have confirmed that the
customer resides at the address mentioned in the account opening form during his visit to India.
OR
B. The house was locked. Have enquired with the neighbour Mr./Ms____________________________
_____________________________________ (pl state their names and addresses) who have confirmed
that the customer resides at the address mentioned in the account opening form during his visit
to India.
(Signature of branch official who has met the customer)
Name of the official:

EIN no:
Name of the Branch:
76
Annexure VII
Specimen of Resolution for Trust Accounts

Current or Savings account
Resolution passed by the Trustees of the _________________Trust at their meeting held

on the __________________day of _____________________20_________.
RESOLVED THAT:
(a) The current/Savings bank account be opened in the name of_________________

____________________Trust with IDBI Bank ltd, _______________branch _____________-city.
(b) The account be operated upon and cheques thereon be signed and all instructions
regarding the account be given by all/any (insert the number as authorized by the trust
document or permitted by head office)________of the following Trustees who are all the present
Trustees of the above mentioned Trust:
________________________________________________
________________________________________________
________________________________________________
(c) As and when any change takes place in the board of trustees, the bank be advised
about such change and a fresh resolution regarding the operations of the account be
forwarded to the bank forthwith.
(d) This resolution be forwarded to the bank together with the specimen signatures of all the
Trustees and it shall remain in force until the receipt by the bank of the advice about the
change in the Board of Trustees together with a fresh resolution referred to in (c) above.
________________________
________________________
________________________
(All the trustees to sign)
77
Annexure VIII
IDBI Bank Ltd Branch Date
Branch Official Visit Report (BOVR)
I …………………………………………………………………………………… EIN …….…..…………..

Designation ……………..………… have visited the prospective customer........................................
and confirm that:
The prospective customer resides at the address mentioned in the Account Opening Form
and document submitted in support of address proof
The prospective customer is conducting business at the address mentioned in the Account
Opening Form and document submitted in support of address proof
I have enquired with Mr. / Ms. / M/s ……………………………….………….……………………………

………………………………………………………………………..……….…………... (Address) who
have confirmed that the prospective customer is residing / conducting business for past …..
years / months.
My enquiries reveal that the prospective customer is engaged in
………………………………………….. (specify nature of business) and is in this line of business for
the past ………….. years / months.
Signature
*****************************************************************************************************
Confirmation on Televerefication
I………………………………………………… EIN ………..….. Designation ……………..………………

have made a tele-verification of the prospective customer at Phone Number ………………......….
At …………….. Hrs from Branch phone number on ………….…….
Signature
78
Annexure IX
Specimen of Resolution for Opening of Accounts of
Clubs, Schools, Societies, Associations, Committees
Certified copy of an extract from the minutes of the meeting of the Governing Body/Managing
Committee/ Board of Management of_____________________________ duly convened and at
which a proper quorum was present, held at __________________on the __day of _________20 ___.
“Resolved that
(a) That Current/Savings bank account(s) be opened in the name of______________
___________________with IDBI Bank ltd, ___________ branch __________ city and that the account(s)
be operated upon and cheques thereon be signed and all instructions regarding the account
be given by all/any ________________of the following office bearers -
_________________________________
_________________________________
_________________________________
(Names and Designations of the office bearers should be mentioned)
AND / OR
(a) That a fixed deposit account/___________deposit account be opened in the name
of_________________________ with IDBI ltd, _____________ branch _____________city by depositing
an amount of `______________________ Rupees.__________________________________________ only)
for a period of ______years and/or by depositing such other amounts as may be available for
such period as may be required from time to time and that all/any ______________of the
following office bearers be authorized to receive the amount of the fixed deposit account /
_______________deposit and interest thereon and to renew the same and to endorse and
discharge the fixed deposit receipt/monthly income certificate(s)___________/deposit account:
________________________________________
________________________________________
________________________________________
(Name and designation of the office bearers should be mentioned)
(b) That as and when any changes takes place in the governing body/managing
committee/board of management/_____________________the bank be advised about such
change and a fresh resolution regarding the operations of the account be forwarded to the
bank forthwith.
(c) That a copy of the resolution duly authenticated by ____________________________ (name
and designations) be forwarded to the bank together with the specimen signature of all the
aforesaid office bearers. This resolution shall remain in force until the receipt by the bank about
the change in the office bearers to operate the account together with a fresh resolution in that
behalf.”
Certified true copy
_________________________
Date Chairman of the meeting
________________________
Secretary
*Applicable alternative(s) to be included in the resolution.
79
Annexure X
SPECIMEN OF RESOLUTION FOR OPENING OF ACCOUNTS OF SELF HELP GROUP (SHG)
Certified copy of an extract from the minutes of meeting of Committee members of ……………
duly convened and at which a proper quorum was present, held at …………… on the
……………day of ……………20 ……………
RESOLVED THAT
* (a) Savings Bank Account(s) be opened in the name of ……………formed as SHG with IDBI
Bank Ltd., ……………Branch. The said account /s shall be opened and operated upon and
cheques thereon be signed and all instruction regarding the Account(s) be given by all / any
…………………………of the following office bearers:
………………………………………
………………………………………
AND/OR
* (a) Fixed Deposits Account/s be opened in the name of …………………………formed as SHG

with IDBI Bank Ltd., ………………………… Branch, by depositing an amount of `…………. (Rupees
……………) for a period of ……………days / months / years and/or by depositing such other
amounts as may be available for such period(s) as may be required from time to time. The said
Fixed Deposit/s account/s shall be opened by all / any ……………of the following office bearers.
The said office bearers shall be authorized to receive the amount of the said Fixed Deposits
Account/ …………………………
Deposit and interest thereon and to renew the same and to endorse and discharge the Fixed
Deposit Receipt(s)/ ………………………… Deposit Account:
……………………………………………………
……………………………………………………
(b) That as and when any change takes place in the managing committee the Bank is
advised about such change and a fresh Resolution regarding the operations of the Account(s)
be forwarded to the Bank forthwith.
(c) That a copy of the Resolution duly authenticated by (names & designations of at least
two officials) ………………………… be forwarded to the Bank together with the specimen
signatures of all the members of SHG. This Resolution shall remain in force until the receipt by the
Bank of the advice about the change in the office bearers authorized to operate the
Account(s) together with a fresh Resolution in that behalf.”
Certified true copy ……………
Date …………… …………… ……………

(Signatures)
* Applicable alternative(s) to be included in the Resolution.
80
Annexure XI
Specimen of Board Resolution for Opening of Accounts of Limited Companies
Certified copy of an extract from the minutes of the meeting of the Board of Directors of the
___________________________________on the ___________________ day of ________ 20 _________.
We hereby certify that the following resolution of the Board of Directors of

___________________________Co. ltd was passed at a meeting of the Board held on ____________
and has been duly recorded in the minute book of the said company.
“Resolved that a Banking account for the company be opened with IDBI Bank ltd,
__________________ branch __________ city and that the said bank be and is hereby authorized to
honour cheques, bills of exchange and promissory notes drawn, accepted or made on behalf of
the company by _____________________________________________________(names and
designations of authorized signatories) and to act upon any instructions so given relating to the
account, whether the same be overdrawn or not or relating to the transactions of the
company”.
Certified true copy _______________________
Date Chairman of the meeting
________________________
________________________
Secretary
81
Annexure XII
QUESTIONNAIRE ON KNOW-YOUR CUSTOMER / ANTI MONEY LAUNDERING / COMBATING

FINANCING OF TERRORISM FOR COOPERATIVE BANKS
I - General Information
1 Name of the Organization
2 Bank License No. & Date
3 License Issuing Authority
4 Address of Registered Office
5 Address of Head Office
6 Website
Name of Principal Officer
Telephone No
7
FAX
E-Mail
8 Name of the Supervisory Organization
9 If publicly traded, name of Exchanges
II - General KYC/AML/CFT Policies, Practices and Procedure
1 Do you have a legal and regulatory compliance program that includes a Yes/No/NA
designated compliance officer who is responsible for coordinating and
overseeing the AML program, on a day-to-day basis, which has been approved
by Senior Management?
2 Has your institution developed written policies documenting the processes that Yes/No/NA
they have in place to prevent, detect and report suspicious transactions that
has been approved by senior management/Board? If yes date of establishment
and its last review
3 In addition to inspections by the government supervisors/regulators, do you Yes/No/NA
have an internal audit function or other independent third party that assesses
AML policies and practices on a regular basis?
4 Does your institution have a policy prohibiting accounts/relationships with shell Yes/No/NA
banks? (A Shell bank is defined as a bank incorporated in a jurisdiction in which
it has no physical presence and which is unaffiliated with a regulated financial
group)
5 Does your institution have a policy covering relationships with politically exposed Yes/No/NA
persons consistent with industry best practices?
6 Does your institution have appropriate record retention procedures pursuant to Yes/No/NA
applicable law? If your answer is yes for how long?
7 Does your institution require that its AML policies and practices be applied to all Yes/No/NA
branches and subsidiaries?
8 Whether your AML policy prohibits your institution from opening an anonymous Yes/No/NA
account?
9 Has your Institution had any regulatory or criminal enforcement action resulting Yes/No/NA
from violation of AML laws or regulations
III - Risk Management
1 Whether your institution has a risk-focused assessment of its customer base and Yes/No/NA
transactions of its customers?
2 Does your institution determine the appropriate level of enhanced due Yes/No/NA
diligence necessary for those categories of customers and transactions that the
institution has reason to believe pose a heightened risk of illicit activities at or
through the institution?
82
3 Whether proper system is put in place to track transactions on the basis of risk Yes/No/NA
classification of countries and you do not entertain transactions with High Risk
Categorized Countries?
IV - Know Your Customer, Due Diligence and Enhanced Due Diligence
1 Has your institution implemented systems for identification of its clients, including Yes/No/NA
client information in case of recorded transactions, account opening such as
family name/ name of firm, activities/job, nationality, street address, telephone
number, country/state that issued it?
2 Does your institution have procedures to establish a record for each client Yes/No/NA
noting their respective identification documents and know your client
information collected at account opening? Are copies of identification
documents retained in your possession for reference? If so, how long are the
records retained?
3 Do you collect information and access your customer‟s AML policies or Yes/No/NA
practices wherever applicable?
4 Does your institution take steps to understand the normal and expected Yes/No/NA
transactions of its customer‟s base on its risk assessment of its customers?
V - Reportable transactions and prevention and detection of transactions with illegally obtained
funds
1 Does your institution have policies for the identification and reporting of Yes/No/NA
transactions that are required to be reported to the authorities?
2 Does your institution screen transactions to exercise Enhanced Due Diligence in Yes/No/NA
respect of Transaction of High Risk Customers?
3 Does your institution have procedures to identify transaction structured to avoid Yes/No/NA
large cash reporting requirements?
VI - Transaction Monitoring
1 Do you have a monitoring program for suspicious or unusual activity that covers Yes/No/NA
funds transfers and monetary instruments (such as traveller‟s cheques, money
orders, etc)?
2 Do you have a process/procedure in place for identifying the walk-in customers' Yes/No/NA
and subsequent monitoring process to track their transactions from Money
laundering/ Terrorist Finance angle so as to report to the regulator?'
3 Is your institution subject to regulatory laws for retention of records of Suspicious Yes/No/NA
Transaction Reports? If so for how long?
4 Within last one year has your institution reported to the regulatory authority any Yes/No/NA
case of money laundering or financing of terrorism?
VII - AML Training
1 Does your institution provide AML training to relevant employees that include Yes/No/NA
identification and reporting of transactions that must be reported to govt.
authorities, examples of different forms of money laundering involving the bank
products and services and internal policies to prevent money laundering?
2 Do you retain records of training sessions including attendance records and Yes/No/NA
relevant training material used?
3 Does your institution communicate new AML related laws or changes to existing Yes/No/NA
AML related policies or practices to relevant employees?
4 Does your institution have an established audit and compliance review function Yes/No/NA
to test the adequacy of AML and terrorist financing procedures?
83
5 Do you employ agents to carry out some of your functions and if so do you Yes/No/NA
provide AML training to relevant agents that include identification and reporting
of transactions that must be reported to government authorities, examples of
different forms of money laundering involving your products and services?
VIII - Documents to be enclosed in support
1 Bank License Yes/No/NA
2 Memorandum of Association Yes/No/NA
3 Articles of Association Yes/No/NA
4 KYC / AML Policy Yes/No/NA
5 List of Shareholders with percentage Yes/No/NA
6 List of Directors Yes/No/NA
7 List of Top Management Official Yes/No/NA
84
Annexure XIII
Format of Letter to Cooperative Bank
At Par Cheque Facility
IDBI Bank / / 2013-14
Date:
The Secretary / President

…. ………………Bank
Dear Sir
Client ID …… Account No:…….
As you are aware, we at IDBI Bank strive to provide the best of products and services to
esteemed clients like to you in the overall gamut of the regulatory guidelines. Your esteemed
Bank has been availing „At Par‟ Cheque facility for your own use and also for your customer and
walk in customers for facilitating their remittance and payments.
Keeping in view the systemic and supervisory concerns that emanate from such an
arrangement, Reserve Bank of India (RBI) has advised that such facility should be used only for
the following purposes:
 For your own use.

 For your account holders who are KYC compliant provided that all transactions of `
50,000.00 or more should be strictly by debit to such customer‟s account.
 For your walk-in customers against cash for less than ` 50,000.00 per individual.
We also request you to
 Maintain records pertaining to issuance of „At par‟ cheques covering inter alia
applicant‟s name and account number, beneficiary‟s details and date of issuance of
the „At par‟ cheque. You should also make available for inspection, records (in hard and
soft form) in relation to „At par‟ facility upon a request in this regard is made by us either
in writing or otherwise.
 Maintain sufficient balances/drawing arrangements for purpose of honouring such
instruments.
 Ensure that all „At par‟ cheques issued by you are crossed „account payee‟ irrespective
of the amount involved.
 Make use of more efficient means of remittances for the customers like NEFT or RTGS by
availing such services by becoming our sub-member as per regulations in this regard
issued by RBI from time to time.
This letter is issued to you in duplicate. We shall be thankful to you to sign in the duplicate of this
letter signifying your acceptance and compliance of the above.
We would like to place on record the value of your relationship and look forward for a mutually
beneficial relationship in the times to come.
Thanking you
Yours faithfully
Branch Head
85
Annexure XIV
MANDATE LETTER
Date: -____________
The Branch Manager,
IDBI Bank Ltd.
________________Branch.
Dear Sir,
Mandate to operate Savings Bank/ Current Account No ____________________________

Of_____________________________________________________(names of Account Holders)
I/We hereby request you to honour all Cheques / Orders drawn on the said Account to the
extent of the amount lying in the said account and no overdraft to be permitted. If the same is
signed by Mr. / Ms. ________________________, Son/daughter/wife of ___________________________
I/We further authorize the said person on my / our behalf to make, draw, endorse, accept or
otherwise sign any Bills of Exchange, promissory Notes or other Negotiable Instruments and to
make, draw, endorse or sign cheques or any other negotiable instrument, provided such
investments are covered by the Regulations and are made in the manner provided in the
Regulations.
The Mandate holder shall however, while acting under this mandate ensure that he/she acts in
accordance with the instructions and directions that may be issued from time to time by the
Reserve Bank of India or the Government of India or any other body or authority.
I/We hereby ratify and bind myself / ourselves and confirm to all whatever instructions the said
person has given on my/our behalf. I / We agree to bear any losses or claims that may arise
directly or indirectly on account of the Bank acting on this instruction/mandate and the
instruction given thereof by the said person. I also indemnify and keep the Bank indemnified
from and against all suits, claims, actions, damages or losses that may be suffered or incurred by
the Bank in respect of any act, deed, matter or thing done by the Mandate holder in respect of
the Mandate.
The specimen signature of the Mandate Holder, who has been authorised to operate upon the
account, is given below and the signature has been duly verified by me/us.
This authority shall continue in force until I/We shall have expressly revoked it by a notice in
writing delivered to you.
Yours truly,
_____________________ ______________________ __________________________

(1) (2) (3)
Signature of Account Holder (s)
Signature of the Mandate Holder ______________________________

Name & Address of Mandate Holder_______________________________________________________
86
Annexure XV
Format for Self Declaration for Local / Correspondence Address
Date:________
To,
The Branch Head,
IDBI Bank Ltd,
Branch……………..
Sub: Self - Declaration for Local / Correspondence Address
Dear Sir/Madam
□ I_____________________________________ desire to open account in your Branch, and have

submitted ___________________________ document as proof of Permanent Address to the
Branch. I am unable to provide any document as required by the Bank for proof of my
Local / Correspondence address because ___________________________________(reason).
OR
□ I _____________________________________ holding account no._____________________ in your
________________ Branch, would like to inform you that, my Correspondence address as
per the records of your Bank, has undergone a change and I am unable to provide any
document as required by the Bank for proof of my Local / Correspondence address
because _______________________________(reason).
My local / Correspondence address is:

Flat No.& Bldg.Name:
Road No./Name :
Area & Landmark :
City: PIN Code:
State: Country:
Phone:
I am holding _______________________________________ document (attached herewith) as proof

for above mentioned correspondence address and I am residing at this address since _________
no of years/months.
I therefore request you to please open my account / update my correspondence address in

your records on the basis of this self-declaration for my local / correspondence address.
I hereby confirm that any change in address as mentioned above shall be informed by me to
the Bank within two weeks of such change.
Yours Faithfully,
__________________
__________________
87
Annexure XVI
VERNACULAR LETTER
Date:
To,
The Branch Manager
IDBI BANK LTD
(Branch Address)
Dear Sir\Madam,
Account Opening
I, _________________________________________________ have explained the terms and conditions

for opening a Current / Savings / Deposit Account with IDBI LTD, (branch address)
to________________, Who has / have understood the same in his / her own language and agreed
to comply with the same of his / her own language and agreed to comply with the same of his /
her own free will and consent.
(Signature of the known person) (Signature of the Customer/s in vernacular)

(Name) (Name)
Witness
Signature
Name
address
88
Annexure XVII
Specimen of Declaration to be given by the close relative

with whom the prospective customer is staying
To,
Branch Head,
__________________ Branch,
IDBI Bank Ltd
__________________
Dear Sir/Madam,
Opening of new account
This is with reference to application submitted by Shri / Smt ____________________________,

who is my _____________ by relation, for opening of account with your branch.
In this regard, I would like to declare that Shri / Smt ______________________ is staying with
me since _________________ at _______________________________________________________. A copy
of proof of the said address is enclosed herewith.
Yours faithfully,
( )
89
Annexure XVIII
Declaration of Beneficial owner/s
The IDBI Bank Ltd.
…………………Branch
Dear Sir
We refer the Account opening form submitted to you for opening the account of our concern /
firm / trust / association / society / Club / LLP / Company. In this regard we submit that we have
read and understood the meaning of beneficial owner as per guidelines issued by Government
of India (as given below) and hereby advise that the following person is the beneficial owner of
our entity. We also provide the Identity details of the said beneficial owner for your records
Name of Beneficial Owner(BO)/s :
Address :
Phone No :
E Mail :
Proof for Identity of BO : As per enclosure
We hereby declare that the above information is true and request you to open our account as
propose. We also undertake to intimate you about any changes in the beneficial owner of our
entity.
Yours faithfully
----sd----
(a) where the client is a company, the beneficial owner is the natural person(s), who, whether acting alone
or together, or through one or more juridical person, has a controlling ownership interest or who exercises
control through other means.
Explanation.- For the purpose of this sub-clause-
1. “Controlling ownership interest” means ownership of or entitlement to more than twenty-five per cent of
shares or capital or profits of the company;
2. “Control” shall include the right to appoint majority of the directors or to control the management or
policy decisions including by virtue of their shareholding or management rights or shareholders agreements
or voting agreements;
(b) where the client is a partnership firm, the beneficial owner is the natural person(s), who, whether acting
alone or together, or through one or more juridical person, has ownership of/entitlement to more than
fifteen per cent of capital or profits of the partnership;
(c) where the client is an unincorporated association or body of individuals, the beneficial owner is the
natural person(s), who, whether acting alone or together, or through one or more juridical person, has
ownership of or entitlement to more than fifteen per cent of the property or capital or profits of such
association or body of individuals;
(d) where no natural person is identified under (a) or (b) or (c) above, the beneficial owner is the relevant
natural person who holds the position of senior managing official;
(e) where the client is a trust, the identification of beneficial owner(s) shall include identification of the
author of the trust, the trustee, the beneficiaries with fifteen per cent or more interest in the trust and any
other natural person exercising ultimate effective control over the trust through a chain of control or
ownership; and
(f) where the client or the owner of the controlling interest is a company listed on a stock exchange, or is a
subsidiary of such a company, it is not necessary to identify and verify the identity of any shareholder or
beneficial owner of such companies.
90
Annexure XIX
शाखा द्वारा ऱाभाथी स्वामी (स्वाशमयों) की घोषणा/

Declaration of Beneficial Owner(s) by the Branch
सोर शाखा / र्दनाॊक/ र्द र्द भा भा व व व व

Sol Branch Date D D M M Y Y Y Y
ग्राहक का नाभ Name of Customer
ग्राहक आईडी (मर्द कोई हो)
Customer Id (if Any)
उऩमक्
ुि त उश्लरखखत ग्राहक श्जनका खाता हभायी शाखा भें खोरना प्रस्ताववत है, उन राबाथी स्वाभी(मों)
का वववयण ननमनलरखखत है .
Following are the details of the Beneficial Owner(s) for the Account Proposed to be
opened for the above mentioned customer in our Branch.
राबाथी स्वाभी (फीओ)/ स्वालभमों :

का नाभ/ Name of Beneficial
owner (BO)/s
ऩता/ Address :
पोन सॊ./ Phone No. :
ई-भेर/ E Mail :
फीओ की ऩहचान का प्रभाण/ Proof : सॊरग्नक के अनस
ु ाय/ As per enclosure
for Identity of BO
फीओ की ऩहचान का आधाय/ Basis
of Identification of BO
फीएच/ एफीएच का हताऺय/ Signature of BH/SOM :

(ईआईएन औय भह
ु य/ EIN and Stamp) :
91
Annexure XX
Account Opening Memorandum
(Click Here to Download)
92
Annexure XXI
Miscellaneous Request Form

(Click Here to Download the Form in ENGLISH)
(Click Here to Download the Form in HINDI)
93
Annexure XXII
Customer Information Updation Form for KYC
Customer ID : _____________________________ Please affix your

latest Passport Size
Photograph with
Name of Account Holder : _____________________________
signature across
the photograph
PAN Number : _____________________________
There is no Change in my Address
I wish to change my address / Contact Details as below
There is no Change in my signature
My signature has changed and the same is as per details given below
Flat / Door No. Building Name

Road Landmark
City PIN
State Country
Tel (Off) Tel (Res)
Mobile No E Mail ID
Existing Signature Changed Signature
I hereby submit photo copy of the following documents (self attested) for the proof of –
For Identity Proof :

For Address Proof :
For Signature Proof :
I do hereby solemnly declare that the information provided above with respect to my account is up to
date and correct.
Signature of Account holder

Date: _____________________
Note:
1) Please provide self-attested address proof even when there is no change of address.
2) List of acceptable identity, Signature and address proof documents (in photocopy) as per the
enclosed sheet should be submitted to the nearest IDBI Bank branch.
3) If you wish to make a change in any of your contact details please fill appropriate boxes given above.
4) In absence of valid address proof, the address proof of a close relative with whom account holder is
residing may be provided along with a declaration from the close relative, and the close relative's id
and address proof. The declaration should state that account holder is a close relative and resides at
the address mentioned above.
For Branch Use only For RPU Use only
Sourcing Br. Name ID Proof updated on
SOL Risk Categorisation of customer Add. Proof updated on
Documents and signature verified Photograph updated on
SOM / ASOM Signature updated on
BH Signature of RPU Official
Note : Separate forms to be obtained for the individual customers
94
Annexure XXIII
Specimen of Notice to be Given to the Customers
IDBI Bank Ltd.

_____________________ Branch
Ref: Date:
To,
__________________
__________________
Dear Sir/Madam/Dear Sirs,
Ref: Your Current Account No. _______________
Please refer to our letters no. _____________ dated _________ and letter no. ________ dated
_________ wherein we had drawn your attention to following irregularities in conducting your
above account with us:
i)
ii)
We regret to note that the irregularities still persist. Under the circumstances, we regret our
inability to continue servicing your account.
Please therefore, surrender the unused cheques and arrange to close your account within 7
days of this letter, failing which we will close your account without giving any further notice to
you. We shall not be thereafter responsible for dishonour of any cheque presented in the
account.
Please acknowledge receipt.
Yours faithfully,
Branch Head
95
Appendix I
Beneficial Owner
As per Government of India Notification dated August 27, 2013, the beneficial owner shall be
determined as under –
(a) where the client is a company, the beneficial owner is the natural person(s), who, whether
acting alone or together, or through one or more juridical person, has a controlling
ownership interest or who exercises control through other means.
Explanation.- For the purpose of this sub-clause-
1. “Controlling ownership interest” means ownership of or entitlement to more than twenty-
five per cent of shares or capital or profits of the company;
2. “Control” shall include the right to appoint majority of the directors or to control the
management or policy decisions including by virtue of their shareholding or
management rights or shareholders agreements or voting agreements;
(b) where the client is a partnership firm, the beneficial owner is the natural person(s), who,
whether acting alone or together, or through one or more juridical person, has ownership
of/entitlement to more than fifteen per cent of capital or profits of the partnership;
(c) where the client is an unincorporated association or body of individuals, the beneficial owner
is the natural person(s), who, whether acting alone or together, or through one or more
juridical person, has ownership of or entitlement to more than fifteen per cent of the property
or capital or profits of such association or body of individuals;
(d) where no natural person is identified under (a) or (b) or (c) above, the beneficial owner is the
relevant natural person who holds the position of senior managing official;
(e) where the client is a trust, the identification of beneficial owner(s) shall include identification
of the author of the trust, the trustee, the beneficiaries with fifteen per cent or more interest in
the trust and any other natural person exercising ultimate effective control over the trust
through a chain of control or ownership; and
(f) where the client or the owner of the controlling interest is a company listed on a stock
exchange, or is a subsidiary of such a company, it is not necessary to identify and verify the
identity of any shareholder or beneficial owner of such companies.
96
Appendix II
RISK CATEGORISATION OF CUSTOMERS
Risk Code
Risk Description
(in Finacle)
Low Risk (Level 1)
RL 101 Individuals (Other than included in High and Medium Risk categories below)
RL 102 Government departments and Government owned Companies, regulatory and
statutory bodies
RL 103 NOPs / NGOs promoted by United Nations or its agencies
RL 104 All other categories of accounts / customer not falling under High and Medium
Risk classifications.
Medium Risk (Level 2)
RL 201 Non-Bank Financial Institution
RL 202 Stock brokerage
RL 203 Import/ Export
RL 204 Gas Station
RL 205 Car/ Boat/ Plane Dealership
RL 206 Electronics (wholesale)
RL 207 Travel agency
RL 208 Used car sales
RL 209 Telemarketers
RL 210 Providers of telecommunications service, internet café, IDD call service, phone
cards, phone centre.
RL 211 Dot-com company or internet business
RL 212 Pawnshops
RL 213 Auctioneers
RL 214 Cash-intensive Businesses such as restaurants, retail shops, parking garages, fast
food stores, movie theatres, etc.
RL 215 Sole Practitioners or Law firms (small, little known)
RL 216 Notaries (small, little known)
RL 217 Secretarial (small, little known)
RL 218 Accountants (small, little known)
RL 219 Venture capital companies
High Risk (Level 3)
RL 301 Individuals and entities in various United Nations Security council Resolutions
(UNSCRs) such as UN 1267 etc.
RL 302 Individuals or entities listed in the schedule to the order under section 51 A of the
Unlawful Activities (Prevention) Act, 1967 relating to the purposes of prevention of
and for coping with terrorist activities.
RL 303 Individuals and entities in watch lists issued by Interpol and other similar
international organizations.
RL 304 Customers with dubious reputation as per public information available or
commercially available watch lists.
RL 305 Individuals and entities specifically identified by regulators, FIU and other
competent authorities as high-risk.
RL 306 Customers conducting their business relationship or transaction in unusual
circumstances, such as significant and unexplained geographic distance
between the institution and the location of the customer, frequent and
unexplained movement of accounts to different institutions in various geographic
locations etc.
RL 307 Customers based in high risk countries/jurisdictions or locations
97
RL 308 Politically exposed persons (PEPs) of foreign origin, customers who are close
relatives of PEPs and accounts of which a PEP is the ultimate beneficial owner;
RL 309 Non-resident customers and foreign nationals
RL 310 Embassies/ Consulates
RL 311 Off-shore (foreign) corporation/business
RL 312 Non face-to-face customers
RL 313 High net worth individuals
RL 314 Partnership Firms
RL 315 Firms with „sleeping partners‟
RL 316 Walk-in-Customers
RL 317 Companies having close family shareholding or beneficial ownership
RL 318 Complex business ownership structures, which can make it easier to conceal
underlying beneficiaries, where there is no legitimate commercial rationale
RL 319 Shell companies which have no physical presence in the country in which it is
incorporated. The existence simply of a local agent or low level staff does not
constitute physical presence.
RL 320 Investment Management / Money Management Company/ Personal Investment
Company
RL 321 Accounts for “gatekeepers‟ such as accountants, lawyers, or other professionals
for their clients where the identity of the underlying client is not disclosed to the
financial institution.
RL 322 Client Accounts managed by professional service providers such as law firms,
accountants, agents, brokers, fund managers, trustees, custodians, etc
RL 323 Trusts, charities, NGO‟s/NPOs unregulated clubs and organizations receiving
donations (excluding NPOs/NGOs promoted by United Nations or its agencies).
RL 324 Money service Business: including seller of: Orders/ Travellers Checks / Money
Transmission /Check Cashing / Dealing or Exchange
RL 325 Business accepting third party cheque (except supermarkets or retail stores that
accept payroll cheque / cash payroll cheque)
RL 326 Gambling/gaming including “junket Operators” arranging gambling tours
RL 327 Dealers in high value or precious goods( e.g. jewel, gem and precious metals
dealers, art and antique dealers and auction houses.
RL 328 Customers engaged in a business which is associated with higher levels of
corruption (e.g. arms manufacturers, dealers and intermediaries)
RL 329 Customers engaged in industries that might relate to nuclear proliferation
activities or explosives.
RL 330 Customers that may appear to be Multi-level marketing companies etc.
RL 331 Customers dealing in Real Estate / Construction Activities and activities
of similar nature, estate agents and real estate brokers
98
Appendix III
The 36 Members of the Financial Action Task Force (FATF)
Argentina
Australia
Austria
Belgium
Brazil
Canada
China
Denmark
European Commission
Finland
France
Germany
Greece
Gulf Cooperation Council*
Hongkong, China
Iceland
India
Ireland
Italy
Japan
Kingdom of Neitherlands
Luxembourg
Mexico
New Zealand
Norway
Portugal
Republic of Korea
Russian Federation
Singapore
South Africa
Spain
Sweden
Switzerland
Turkey
United Kingdom
United States
*The Gulf Cooperation Council (GCC) comprises of the following member countries
Bahrain
Qatar
Kuwait
Saudi Arabia
Oman
UAE
99
Appendix IV
Frequently Asked Questions - Basic Savings Bank Deposit Account issued by RBI
1. Query: Whether the guidelines issued on „no-frills‟ account with 'nil' or very low minimum
balances will continue even after the introduction of „Basic Savings Bank Deposit Account‟?
Response: No, in supersession of instructions contained in circular DBOD.No.Leg. BC.44/09.07.005
/2005-06 dated November 11, 2005 on No Frill accounts, banks have now been advised to offer
a 'Basic Savings Bank Deposit Account' to all their customers vide DBOD.No.Leg.BC.35/09.07.005/
20012-13 dated August 10, 2012, which will offer minimum common facilities as stated therein.
Banks are required to convert the existing 'no-frills' accounts‟ into 'Basic Savings Bank Deposit
Accounts'.
2. Query: Can an Individual have any number of 'Basic Savings Bank Deposit Account' in one
bank?
Response: No. An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in
one bank.
3. Query: Whether a 'Basic Savings Bank Deposit Account' holder can have any other saving
account in that bank?
Response: Holders of 'Basic Savings Bank Deposit Account' will not be eligible for opening any
other savings account in that bank. If a customer has any other existing savings account in that
bank, he / she will be required to close it within 30 days from the date of opening a 'Basic
Savings Bank Deposit Account'.
4. Query: Can an individual have other deposit accounts where one holds 'Basic Savings Bank
Deposit Account‟?
Response: Yes. One can have Term/Fixed Deposit, Recurring Deposit etc., accounts in the bank
where one holds 'Basic Savings Bank Deposit Account'.
5. Query: Whether the „Basic Savings Bank Deposit Account‟ can be opened by only certain
types of individuals like poor and weaker sections of the population?
Response: No. The 'Basic Savings Bank Deposit Account' should be considered as a normal
banking service available to all customers, through branches.
6. Query: Whether there are any restrictions like age, income, amount etc criteria for opening
BSBDA by banks for individuals?
Response: No. Banks are advised not to impose restrictions like age and income criteria of the
individual for opening BSBDA.
7. Query: Is the 'Basic Savings Bank Deposit Account' a part of the Financial Inclusion plans of
banks?
Response: The aim of introducing 'Basic Savings Bank Deposit Account' is very much part of the
efforts of RBI for furthering Financial Inclusion objectives. All the accounts opened earlier as 'no-
frills' account vide DBOD Circular dated DBOD.No.Leg.BC.44/09.07.005/2005-06dated November
11, 2005 should be renamed as BSBDA as per the instructions contained in paragraph 2 of our
Circular DBOD. No. Leg. BC. 35/09.07.005/2012-13 dated August 10, 2012 and all the new
accounts opened since the issue of our circular DBOD.No.Leg.BC.35 dated August 10, 2012
should be reported under the monthly report of the progress of Financial Inclusion plans
submitted by banks to RPCD, CO.
100
8. Query: What are KYC norms applicable to BSBDA accounts? Are there any relaxations in KYC
norms for BSBDAs?
Response: The 'Basic Savings Bank Deposit Account' would be subject to provisions of PML Act
and Rules and RBI instructions on Know Your Customer (KYC) / Anti-Money Laundering (AML) for
opening of bank accounts issued from time to time. BSBDA can also be opened with simplified
KYC norms. However, if BSBDA is opened on the basis of Simplified KYC, the accounts would
additionally be treated as “BSBDA-SMALL account” and would be subject to the conditions
stipulated for such accounts as indicated in para 2.7 of Master Circular DBOD.AML.BC.No.
11/14.01.001/2012-13 dated July 2, 2012. .
9. Query: Can I have a „Small Account‟ in ABC Bank as per the Government of India Notification
No.14/2010/F.No.6/2/2007-E.S. dated December 16, 2010. Can I have additionally a 'Basic
Savings Bank Deposit Account‟?
Response: No, the BSBDA customer cannot have any other savings bank account in the same
bank.. If 'Basic Savings Bank Deposit Account‟ is opened on the basis of simplified KYC norms,
the account would additionally be treated as a 'Small Account' and would be subject to
conditions stipulated for such accounts as indicated in paragraph 2.7 of Master Circular
DBOD.AML.BC.No.11/14.01.001/2012-13 dated July 02, 2012 on 'KYC norms / AML standards /
Combating of Financing of Terrorism (CFT) / Obligation of banks under PMLA, 2002'.
10. Query: What are the conditions stipulated for accounts which are additionally to be treated
as „BSBDA-Small Account‟?
Response: As notified in terms of Govt of India notification dated December 16, 2010, BSBDA-
Small Accounts would be subject to the following conditions:
i. Total credits in such accounts should not exceed one lakh rupees in a year.
ii. Maximum balance in the account should not exceed fifty thousand rupees at any time
iii. The total of debits by way of cash withdrawals and transfers will not exceed ten thousand
rupees in a month
iv. Foreign remittances can not be credited to Small Accounts without completing normal KYC
formalities
v. Small accounts are valid for a period of 12 months initially which may be extended by another
12 months if the person provides proof of having applied for an Officially Valid Document.
vi. Small Accounts can only be opened at CBS linked branches of banks or at such branches
where it is possible to manually monitor the fulfilments of the conditions
11. Query: What kinds of services are available free in the 'Basic Savings Bank Deposit Account‟?
Response: The services available free in the 'Basic Savings Bank Deposit Account‟ will include
deposit and withdrawal of cash; receipt / credit of money through electronic payment channels
or by means of deposit / collection of cheques at bank branches as well as ATMs.
12. Query: Is there requirement of any initial minimum deposit while opening a BSBDA as per the
circular dated August 10, 2012?
Response: There is no requirement for any initial deposit for opening a BSBDA.
13. Query: Whether banks are free to offer more facilities than those prescribed for „Basic Savings
Bank Deposit Account‟?
Response: Yes. However, the decision to allow services beyond the minimum prescribed has
been left to the discretion of the banks who can either offer additional services free of charge or
evolve requirements including pricing structure for additional value-added services on a
reasonable and transparent basis to be applied in a non-discriminatory manner with prior
intimation to the customers. Banks are required to put in place a reasonable pricing structure for
value added services or prescribe minimum balance requirements which should be displayed
101
prominently and also informed to the customers at the time of account opening. Offering such
additional facilities should be non - discretionary, non-discriminatory and transparent to all „Basic
Savings Bank Deposit Account‟ customers. However such accounts enjoying additional facilities
will not be treated as BSBDAs.
14. Query: If BSBDA customers have more than 4 withdrawals and request for cheque book at
additional cost, will it cease to be a BSBDA?
Response: Yes. Please refer to response to the above query (Query No.13). However, if the bank
does not levy any additional charges and offers more facilities free than those prescribed under
BDBDA a/cs without minimum balance then such a/cs can be classified as BSBDA.
15. Query: Whether the existing facility available in a normal saving bank account of Five free
withdrawals in a month in other banks ATMs as per IBA (DPSS) instructions will hold good for
BSBDA?
Response: No. In BSBDA, banks are required to provide free of charge minimum four withdrawals,
through ATMs and other mode including RTGS/NEFT/Clearing/Branch cash
withdrawal/transfer/internet debits/standing instructions/EMI etc It is left to the banks to either
offer free or charge for additional withdrawal/s. However, in case the banks decide to charge
for the additional withdrawal, the pricing structure may be put in place by banks on a
reasonable, non-discriminatory and transparent manner by banks.
16. Query: Are the banks free to levy Annual ATM Debit Card charges?
Response: Banks should offer the ATM Debit Cards free of charge and no Annual fee should be
levied on such Cards.
17. Query: Whether Balance enquiry in ATMs also should be counted within the four withdrawals
permitted under BSBDA?
Response: Balance enquiry through ATMs should not be counted in the four withdrawals allowed
free of charge at ATMs.
18. Query: If a customer of BSBDA agrees not to have ATM Debit card should the bank give ATM
debit card by force?
Response: ATM debit cards may be offered at the time of opening BSBDA and issued if the
customer requests for the same in writing. Banks need not force ATM debit cards on such
customers.
19. Query: What about customers who are illiterate or old who may not be in a position to safe
keep and use the ATM debit card and PIN associated with it?
Response: Banks while opening the BSBDA should educate such customers about the ATM Debit
Card, ATM PIN and risk associated with it. However, if customer chooses not to have ATM Debit
Card banks need not force ATM debit cards on such customers. If, however, customer opts to
have an ATM Debit card, banks should provide the same to BSBDA holders through safe delivery
channels by adopting the same procedure which they have been adopting for delivery of ATM
Debit card and PIN to their other customers.
20. Query: Whether Passbooks are also to be offered free to BSBDA holders?
Response: Yes. BSBDA holders should be offered passbook facility free of charge in line with our
instructions contained in Circular DBOD. No. Leg. BC.32 /09.07.005 /2006-07dated October 4,
2006.
21. Query: If a customer opens a BSBDA but does not close his existing Savings Bank Account
within 30 days, are banks then free to close such savings bank accounts?
102
Response: While opening the BSBDA customers‟ consent in writing be obtained that his existing
non-BSBDA Savings Banks accounts will be closed after 30 days of opening BSBDA and banks are
free to close such accounts after 30 days.
22. Query: In certain accounts like NREGA where disbursements are made weekly and if a
month has five weeks, it may result in more than four withdrawals. In such cases can banks
permit five withdrawals?
Response: In BSBDA, banks are required to provide free of charge minimum four withdrawals,
including through ATM and other mode. Beyond four withdrawals, it is left to discretion of the
banks to either offer free or charge for additional withdrawal/s. However pricing structure may
be put in place by banks on a reasonable, non-discretionary, non-discriminatory and
transparent manner by banks.
23. Query: What is the prescribed rate of interest payable on balances in such „Basic Savings
Bank Deposit Account‟?
Response: Our instructions contained in circular DBOD.Dir.BC.75/13.03.00/2011-12 dated January
25, 2012 on Deregulation of Savings Bank Deposit Interest Rate, are applicable to deposits held
in „Basic Savings Bank Deposit Account‟.
24. Query: In terms of RBI circular DPSS. CO.CHD. No. 274/03.01.02/2012-13 dated August 10,
2012, if “ payable at par” / “multi-city” cheques are issued to BSBDA customers based on their
request, can banks prescribe minimum balance requirements?
Response: BSBDA does not envisage cheque book facility in the minimum facilities that it should
provide to BSBDA customers. They are free to extend any additional facility including cheque
book facility free of charge (in which case the account remains BSBDA) or charge for the
additional facilities (in which case the account is not BSBDA).
25. Query: What is the definition of “Basic Savings Bank Deposit Account”(BSBDA)?
Response: All the existing „No-frills‟ accounts opened pursuant to guidelines issued vide circular
DBOD. No. Leg. BC. 44/09.07.005/2005-06 dated November 11, 2005 and converted into BSBDA
in compliance with the guidelines issued in circular DBOD.No.Leg.BC.35/09.07.005/20012-13
dated August 10, 2012 as well as fresh accounts opened under the said circular should be
treated as BSBDA. Accounts enjoying additional facilities under the reasonable pricing structure
for value added services, exclusively for BSBDA customers should not be treated as BSBDAs.
26. Query: What is the time frame available to banks for converting “No-Frills” Account as Basic
Savings Bank Deposit Account? What is the time frame available to banks for issuing ATM Cards
to all the existing Basic Savings Bank Deposit Account holders?
Response: All the existing “No-Frill” accounts may be treated as BSBDA accounts from the date
of the circular i.e., August 10, 2012 and banks may offer the prescribed facilities as per the
circular such as issuing ATM card etc., to the existing „No-Frill‟ account holders as and when the
customer approaches the bank. However, for customers opening new accounts after the issue
of our circular should be provided with the prescribed facilities immediately on opening of the
account.
27. Query: Whether the normal saving bank account can be converted into BSBDA at the
request of customer?
Response: Yes. Such customers should give their consent in writing and they should be informed
of the features and extent of services available in BSBDAs.
103
28 Query: Whether Foreign Banks in India are also required to open BSBDA for customers?
Whether Circular dated August 10, 2012 on BSBDA is applicable to Foreign Banks having
branches in India?
Response: RBI instructions/guidelines contained in circular dated August 10, 2012 on BSBDA is
applicable to all scheduled commercial banks in India including Foreign Banks having branches
in India.
104
Appendix V
Process flow to be followed for e-KYC
a) Customer walks into a Branch/Unit with his/her 12-digit Aadhaar number to open a bank
account. Along with the AOF Branch shall obtain his/her consent to access the his
identity/address from UIDAI in the following format:
भैं एतदद्वाया मूआईडीएआई को भेये आधाय नॊ. _________से सॊफॊधधत डेभोग्राकपक वववयण को
फामोभेर्रक सत्माऩन के द्वाया आईडीफीआई फैंक लर. को जायी कयने के लरए अधधकृत कयता हूॉ. /
I hereby authorise UIDAI to release my Demographic details through Biometric
Authentication to IDBI Bank Ltd. for my Aadhaar no……….…………
ग्राहक का हस्ताऺय /Signature of customer
Till the time the above mentioned confirmation is incorporated in the account opening
form Branches may prepare a rubber stamp in bilingual as above and affix the same on
AOF.
b) Bank official shall enter the Aadhar number as provided by the customer into bank‟s e-
KYC Aadaar authentication software available on Intranet >> Quick Launch >> e-KYC
Aadhaar Authentication>> Application. Click Here to download user manual of the
Software, the manual is also available in the on Intranet >>Quick Launch>> e-KYC
Aadhaar Authentication>> Help.
c) The customer inputs his/her biometrics via biometric reader (e.g. fingerprints on a
biometric reader). The device used by Branches for accessing Finacle shall be used for
capturing Biometrics of the customer.
d) The software application captures the Aadhaar number along with biometric data,
encrypts this data and sends it to UIDAI‟s Central Identities Data Repository (CIDR).
e) The Aadhaar KYC service authenticates customer data. If the Aadhaar number does not
match with the biometrics, UIDAI server responds with an error as biometric mismatch.
f) If the Aadhaar number matches with the biometrics, UIDAI responds with digitally signed
and encrypted demographic information [Name, year/date of birth, Gender, Address,
Phone and email (if available)] and photograph.
g) The e-KYC Aadhaar Authentication Software shall auto populate the demographic data
(viz. name, gender, address, phone number, date of birth, Aadhaar Number, email id)
and photograph in relevant fields. It also records the full audit trail of e-KYC. A 32 digit
unique authentication code shall be provided by UIDAI for each eKYC authentication
done by the Branch/Unit.
h) An account shall be opened subject to customer satisfying other account opening
requirements.
For any technical support branches may contact the following officers at IDBI Intech Ltd
(i) rohit.kohli@idbiintech.com(ii)raviraj.gawde@idbiintech.com
105
Appendix VI
Acceptance of e-Aadhaar as Officially Valid Document for opening of accounts

As per RBI guidelines e-Aadhaar downloaded from UIDAI website can be considered as an
officially valid document subject to the following:
i. If the prospective customer knows only his/her Aadhaar number, the bank may print the
prospective customer‟s e-Aadhaar letter in the bank directly from the UIDAI portal;
ii. If the prospective customer carries a copy of the e-Aadhaar downloaded elsewhere, the
bank may print the prospective customer‟s e-Aadhaar letter in the bank directly from the
UIDAI portal;
The following procedure shall be followed at Branches for acceptance of e-aadhaar:

i. UIDAI portal https://eaadhaar.uidai.gov.in shall be used for online verification of e-
aadhaar.
ii. Prospective customer shall be requested to visit the Branch, as one of requirements of
generating e-aadhaar is generation of One Time Password (OTP) on UIDAI portal. The
password will be received by the customer on his / her mobile number provided by
customer at time of enrolment of Aadhaar.
iii. The following details are required to be entered for generation of e-aadhaar online. The
prospective customer shall be informed to provide the same (print screen of the page of
the site is given in Annexure for reference). All the below mentioned details are available
on the enrolment slip issued to the customer at the time of enrolment of aadhaar/ e-
aadhaar printed copy:
a) Enrolment number/Aadhaar Number: E-aadhaar can be generated online either
by entering enrolment number (14 digit) date and time (DD/MM/YYYY: HH:MM:SS)
or aadhaar number on selection of appropriate criteria.
b) Full Name: Full name of the prospective customer as per the enrolment / e-
aadhaar letter
c) Pin Number: Pin code as per the prospective customer address registered with
UIDAI at the time of enrolment of Aadhaar.
d) Mobile: Ten digit mobile number of the prospective customer as registered with
UIDAI at the time of enrolment of Aadhaar.
iv. Once all the details are entered in the portal, OTP generated from the site would be
received by the prospective customer on his / her mobile number in the presence of the
branch officials.
v. The OTP shall then be entered on the same portal. This will enable the branch to
download the e-aadhaar. To open the downloaded document Pin Code of the Address
of the Customer (as filled in while generating the e-Aadhaar) needs to be entered as
password.
vi. Branch shall, then, take a print of the Aadhaar card and obtain the signature of the
prospective customer and attach the same as Identity and Address Proof for the
Account proposed to be opened. It may be noted that the physical Aadhaar card as
Identity and Address proof would continue as hitherto.
106
Appendix VII
Illustrative List of Questions that can be asked during tele-verification of prospective

customer
a) Thank you for your decision to open an account with IDBI Bank. We shall be delighted to have you
as our client and look forward for a mutually satisfying relationship.
b) Can you please specify list of documents submitted by you for the purpose of account opening?
c) Can you please confirm the correspondence (mailing) address / permanent address?
d) Can you please confirm your Date of Birth?
e) Can you please confirm your mother’s maiden name?
f) Can you please confirm the contact/ telephone numbers?
g) Can you please confirm the type of account you have applied for (preferred, royal, basic, capital gain
etc.)?
h) Has the executive Mr … explained to you the features of the accounts and the charges applicable for
the account?
i) Can you please confirm the Occupation /Nature of Business you deal in?
j) Can you please confirm the Source of Income, Annual Income etc.?
k) Would you like to get the Bank statement (physical / email) or passbook.
l) Would you like to avail the facility of Debit card/ SMS Alert / Inet Banking etc.?
m) Have you requested for a joint account, what is the mode of operations requested?
n) We hope that the account opening procedure was explained to your satisfaction.
107
Appendix VIII
Indicative Alert Indicators while dealing with Prospective Customer(s)
SN Alert Indicator Indicative Rule /Scenario

1 Customer left without opening Customer did not open account after being
account informed about KYC requirements
2. Customer offered false or forged Customer gives false identification documents or
identification documents documents that appears to be counterfeited,
altered or inaccurate
3. Identity documents are not Identity documents presented are not verifiable i.e.,
verifiable foreign documents etc.
4. Address found to be non-existent Address provided by the customer is found to be
non-existent
5. Address found to be wrong Customer not staying at the Address provided
during account opening
6. Difficult to Identify Beneficial owner Customer uses complex legal structures or where it
is difficult to identify the beneficial owner
7. Customer is being investigated for Customer has been the subject of inquiry from any
criminal offences Law Enforcement Agency relating to criminal
offences
8 Customer is being investigated for TF Customer has been the subject of inquiry from any
offences Law Enforcement Agency relating to TF or Terrorist
activities
9 Adverse media report about Match of customer details with persons reported in
criminal activities of customer local media/ open source for criminal offences.
10 Adverse media report about TF or Match of customer details with persons reported in
Terrorist activities of customer. local media/ open source for Terrorism or Terrorist
financing related activities.
11 Customer did not complete Customer did not complete transaction after
transaction queries such source funds etc.
12 Customer is nervous Customer is hurried or nervous
13 Customer is over cautious Customer is over cautious in explaining genuineness
of transaction
14 Customer provides inconsistent  Customer changes the information provided
information after more detailed information is requested
 Customer provided information that seems
minimal, possibly false or inconsistent
15 Customer acting on behalf of third  Customer has vague knowledge about amount
party of money involved in transaction
 Customer taking instructions for conducting
transactions
 Customer is accompanied by unrelated
individuals
16 Multiple customers working as a Multiple customers arrive together but pretend to
group ignore each other
17 Customer avoiding nearer branches Customer travels unexplained distances to conduct
transactions
18 Customer offers different Customer offers different identifications on different
identifications on different occasions occasions with an apparent attempt to avoid
linkage of multiple transactions
108
19 Customer wants to avoid reporting Customer makes inquires or tries to convenience

staff to avoid reporting
20 Customer could not explain source Customer could not explain source of funds
of funds satisfactorily
21 Transaction is unnecessarily complex Transaction is unnecessarily complex for its stated
purpose
22 Transaction has no economic The amount or frequency or the sated reason of the
rationale transaction does not make sense for the particular
customer
23 Transaction inconsistent with Transaction involving movement of which is
business inconsistent with the customer‟s business
24 Unapproved inward remittance in Foreign remittance received by NPO not approved
NPO by FCRA
25 Complaint received from public Complaint received from public for abuse of
account for committing fraud etc..
26 Alert raised by Agent Alert raised by Agent about suspicion
27 Alert raised by other institutions Alert raised by other institutions, subsidiaries or
business associates or including cross border
referrals
109
Appendix IX
Guide for Individual Accounts filling the respective FATCA/CRS Annexures.
The Branch is required to take the following steps:
1) This guide relates to process to be followed in respect of Accounts opened by

Individuals:
a. From 1 November 2015 (US Reportable Accounts)

b. From 1 January 2016 (Other Reportable Accounts)
2) The Annexure to the Account opening forms captures information which is

mandatory and required for identifying whether the account is reportable account or
not.
3) The Annexure is mandatorily to be completed and signed if the Individual ticks that
he is tax resident of a country outside India. If the Individual ticks that he is not tax
resident of any jurisdiction outside India, then the Annexure need not be completed
and such Individual should sign at the place indicated.
4) Reportable Accounts are accounts held by Individuals which are US Tax resident
(which includes US citizen) or are tax resident of a country outside India.
An individual can be a tax resident of more than one country and so the information
should be provided of all countries that the individual is a tax resident.
5) It is important to note that the tax residence of an individual can be different from
the residence under FEMA / RBI.
For example, a foreign student coming to India may be a non-resident under FEMA but
could be a tax resident under income-tax.
A joint account holder can be a non-resident though the first holder of the account is a
resident.
Tax residence is mandatory to be captured for reporting requirements.
In case of Minor, the tax residence of the minor should be captured and that of the
guardian or parent should also be captured.
6) The following details from the Account Opening Forms are important to capture for
the purpose of identifying Reportable Account for New Individual accounts:
(a) Country of tax residence

(b) Country of birth
(c) Nationality
110
7) Based on the information (captured from the Account opening Form in the CBS) and
documentary evidence,
i) If the account holder is a tax resident of India, then no further action is required.
ii) If the account holder is a tax resident of US, it may be US Reportable Account
iii) If the Accountholder is a tax resident of any other country other than US, it will be a
“Other Reportable Account”.
8) If the customer does not provide the self-certification and the documentary
evidence to establish his or her tax residence, then the account should not be opened.
9) The branch official should verify the documentary evidence provided for tax
residence.
10) The branch official should check that the documentary evidence or details given
for identification purposes does not contradict the tax residence. For example, in the
proof of identification, a foreign social security number or a foreign driving licence is
provided while the tax residence is shown as India or any other country. The branch
official to enquire if there is a mis-match in the address and the identification details
provided and the country of tax residence provided.
11) If the country of tax residence is outside India, then it is mandatory to provide the
foreign tax identification number or functional equivalent and the proof of such tax
residence.
Change of circumstances
i) Where information has been obtained for a new individual account at the time of
account opening as part of account opening documentation and if there is a change
of circumstance with respect to an account that causes the Bank to know, or have
reason to know that the original self-certification is incorrect or unreliable, then the
Branch cannot rely on the said self-certification. It must obtain a valid self-certification
to establish the tax residency of the account holder.
ii) A change of circumstances can arise due to changes in the following:
a. Change in nationality
b. Change in tax residence
c. Change in address
d. Change in telephone number
e. Change in „in care of‟ or „hold mail address‟
f. Standing instruction for Transfer of funds
g. Change in authorised signatory or power of attorney holder
111
iii) If the change in circumstances is noticed by the branch staff or branch manager,
the same should be highlighted in the system and the branch should obtain fresh self -
certification from the accountholder.
Declaration
(1) No part of the declaration should be cancelled or strike through.
(2) The form should be signed by the person
112
Appendix X
Guide for Entity (non- individual) Accounts filling the respective FATCA/CRS Annexures.
The Branch is required to take the following steps:
1) This guide relates to information to be captured in respect of New Entity Accounts

opened:
a. From 1 November 2015 (US Reportable Accounts)

b. From 1 January 2016 (Other Reportable Accounts)
2) The Annexure to the account opening forms are attached. These annexures have to
be completed by all entities which open an account.
3) All sections have to be filled in. All fields are mandatory if applicable
4) Documentary proof has to be taken.
5) Accounts held by Entity are US reportable Accounts, if they are held by:
a. Specified US persons
b. Non-participating financial institutions
c. Owner documented financial institutions
d. Passive non-financial entity (NFE) that have controlling persons that are US tax
residents.
e. Direct reporting NFE
6) Accounts held by Entity are “other Reportable Accounts, if they are held by:
a. Non – resident Entities that are specifically not excluded
b. Passive non-financial entity that have controlling persons that are Reportable Persons
7) In section 1 of the Annexure, identification details of the entity should be filled in.
8) In section 2 of the Annexure, the country of tax residence should be filled in.
If the country of tax residence is India, additional details in section 2 is not required.
If the country of tax residence is USA, then section 2(a) should be completed.
If country of tax residence is outside India other than USA, then section 2(b) should be
completed.
113
A branch or liaison office or representative office of a non-resident company or foreign

bank should be a non-resident for tax purposes in India though it has office in India.
9) If the country of tax residence is outside India then Tax identification number or
functional equivalent should be mentioned.
10) Documentary proof should be attached for the country of tax residence and TIN or
functional equivalent.
11) Section 3 – Entity classification has to be filled in even for entities that are tax
resident of India.
12) Section 3 Entity classification is to determine whether the entity is a financial

institution or non-financial institution.
13) The entity can be either financial institution or non-financial institution it cannot be
both. So only one of the paragraphs at Section 3(1) i.e. 3.1(a) or 3.1(b). or 3.1(c ) or 3.1
(d) or 3.1(e) can be ticked.
14) Generally Indian financial institutions will be reporting financial institutions i.e. 3.1(a)
or 3.1(b) non-reporting financial institutions. Indian financial institutions should not be
3.1(d) – non- participating financial institutions.
15) If the owner documented financial institution is ticked at 3.1(e ), then the entity
should fill in the details of the controlling person of the owner documented financial
institution. It is mandatory that the entity should fill the details of the controlling persons
in Section 4.
16) If the entity is not a financial institution, then the entity is either an Active Non-
financial Entity (NFE) or passive NFE
17) If the entity is active NFE, it should tick the relevant criteria at 3.2(a) that it meets to
be an Active NFE
18) If the entity is passive NFE, it should tick the relevant criteria at 3.2 (b) and provide
information of its controlling persons. It is mandatory that the entity that is passive NFE
should provide the information of its controlling persons in the form in Section 4.
19) Passive NFE means an NFE which is not active and generally earns passive income in
the nature of interest, dividends, rentals, etc.
20) If the entity is a direct reporting NFE, then the details of controlling person is not
required to be obtained and only the GIIN of the direct reporting NFE is to be obtained
at 3.2 (c ).
21) Entities should tick correctly after reading the annexures to the account opening
forms
114
22) Documentary evidence should be collected for country of tax residence and tax
identification number or functional equivalent in the case of the entity and also the
controlling persons
23) The documentary evidence should be checked for what is mentioned in the
account opening form or the annexure to the account opening form.
24) Change of circumstances
i) Where information has been obtained for a new entity account at the time of
account opening as part of account opening documentation and if there is a change
of circumstance with respect to an account that causes the Bank to know, or have
reason to know that the original self-certification is incorrect or unreliable, then the
Branch cannot rely on the said self-certification. It must obtain a valid self-certification
to establish the tax residency and status of the account holder.
ii) A change of circumstances can arise due to the changes in the following:
a. Change in country of incorporation or organisation

b. Change in tax residence
c. Change in address
d. Change in telephone number
e. Change in „in care of‟ or „hold mail address‟
f. Standing instruction for Transfer of funds
g. Change in authorised signatory or power of attorney holder
iii) If the change in circumstances is noticed by the branch staff or branch manager,
the same should be highlighted in the system and the branch should obtain fresh self -
certification from the account holder.
25) Declaration
(1) No part of the declaration should be cancelled or struck off.
(2) The form should be signed by the person.
115
Appendix XI
List of Circulars consolidated by this Master Circular
Sr Circular No Date Subject
No
1 IDBI BANK/2016- 07-03-2017 BSBDA-SMALL ACCOUNTS (RELAXED KYC) - IMPOSITION OF
17/536/RBG/PBG/188 SYSTEMIC RESTRICTIONS
2 IDBI BANK/2016- 20-12-2016 Compliance to provisions of Master Direction on
17/432/BOSPD/BOSPD/58 Know Your Customer (KYC).
3 IDBI BANK/2016- 13-12-2016 Amendment to Master Direction (MD) on KYC
17/418/BOSPD/BOSPD/54
4 IDBI BANK/2016- 08-12-2016 Requirement of customer due diligence and need for
17/414/BOSPD/BOSPD/52 maintenance of records
5 IDBI BANK/2016- 19-09-2016 Report of Accounts without PAN
IDBI BANK/2016- 27-07-2016 Registered Mobile Number
6 IDBI BANK/2015- 06-02-2016 REPORTING REQUIREMENTS UNDER FOREIGN ACCOUNT TAX
16/541/BOSPD/BOSPD-39 COMPLIANCE ACT (FATCA) AND COMMON REPORTING
STANDARDS (CRS)
7 IDBI BANK/2015- 29-10-2015 REPORTING REQUIREMENTS UNDER FOREIGN ACCOUNT TAX
16/381/BOSPD/BOSPD-32 COMPLIANCE ACT (FATCA) AND COMMON REPORTING
STANDARDS (CRS)
8 IDBI BANK/2015- 23-07-2015 REVISION IN GUIDELINES ON KNOW YOUR CUSTOMER (KYC) -
16/205/BOSPD/BOSPD-25 AMENDMENT IN COMPANY?S ACT - DOCUMENTS FOR OPENING
ACCOUNTS OF COMPANIES
9 IDBI BANK/2015- 16-06-2015 REVISION IN GUIDELINES ON KNOW YOUR CUSTOMER (KYC) -
16/153/BOSPD/BOSPD-22 AMENDMENT TO PREVENTION OF MONEY LAUNDERING
(M AINTENANCE OF RECORDS) RULES, 2005 - ADDITIONAL
DOCUMENTS FOR THE LIMITED PURPOSE OF "PROOF OF ADDRESS"
10 IDBI BANK/2014- 18-12-2014 Changes in Documentation related to Opening of
15/498/BOSPD/BOSPD-47 Account of Private/ Public Limited accounts due to
introduction of Companies Act 2013
11 IDBI BANK/2014- 02-12-2014 Opening Accounts of Unincorporated Association or
15/468/BOSPD/BOSPD-45 Body of Individuals
12 IDBI BANK/2014- 18-11-2014 Opening Private Limited Company accounts of One
15/433/BOSPD/BOSPD-44 Person Company (OPC)
13 IDBI BANK/2014- 18-11-2014 Clarification of Foreign Address Proof for Non Resident
15/432/BOSPD/BOSPD-43 Indian (NRI) Accounts
14 IDBI BANK/2014- 07-11-2014 Clarifications on periodic updation of KYC of low risk
15/410/BOSPD/BOSPD-40 customers and partial freezing of KYC non-compliant
accounts
15 IDBI BANK/2014- 25-08-2014 Introduction of e-KYC - Online Aadhaar
15/269/BOSPD/BOSPD-36 Authentication Software
16 IDBI BANK/2014- 12-08-2014
Revision in Documentation for NRI Accounts
15/244/BOSPD/BOSPD-34
17 IDBI BANK/2014- 30-07-2014 Revision in Guidelines on Know Your Customer (KYC)
15/224/BOSPD/BOSPD-33 Norms /Anti-Money Laundering (AML) Standards/
Combating of Financing of Terrorism (CFT)/Obligation
of banks under Prevention of Money Laundering Act
(PMLA), 2002 Obligation of banks - Amendment to
Prevention of Money-laundering (Maintenance of
116
Records) Rules 2013

18 IDBI BANK/2014- 15-07-2014 Attempted Suspicious Transactions (indicative list of
15/197/RBG/CO-66 Alerts)
19 IDBI BANK/2014- 05-07-2014 Clarification on Deviations / Approvals- Master
15/180/BOSPD/BOSPD-30 Circular on KYC and AML dated April 01,2014
20 IDBI BANK/2014- 05-07-2014 Change in Form numbers due to subsequent changes
15/179/BOSPD/BOSPD-29 in Companies Act, 1956 to 2013
21 IDBI BANK/2014- 03-07-2014 Accounts of Trust- Modification in requirement of
15/173/BOSPD/BOSPD-27 Documentation of TASC accounts
22 IDBI BANK/2014- 03-07-2014 Accounts of Foreign Companies having operations in
15/172/BOSPD/BOSPD-26 India - Account Opening Documents
23 IDBI BANK/2014- 17-06-2014 Clarification on Documentation for Partnership

15/136/BOSPD/BOSPD-23 Accounts
24 IDBI BANK/2014- 17-06-2014 Clarification on Proof of Address
15/135/BOSPD/BOSPD-22
25 IDBI BANK/2013- 6/3/2014 Acceptance of E-Aadhaar as Officially Valid

2014/728/BOSPD/BOSPD- Document for opening of accounts under PML Rules
391
26 IDBI BANK/2013- 28/01/2014 Legal Guardianship Certificates issued under the
2014/645/BOSPD/BOSPD- Mental Health Act, 1987 and National Trust for the
340 Welfare of Persons with Autism, Cerebral palsy ,
Mental Retardation and Multiple Disabilities Act,1989
27 IDBI BANK/2013- 31/12/2013 Revised Guidelines – Additional documents
2014/581/BOSPD/BOSPD- acceptable to identify the age of Senior Citizens
306
28 IDBI BANK/2013- 31/12/2013 Revised Guidelines – Additional documents
2014/580/BOSPD/BOSPD- acceptable to identify the entity of Partnership
305 accounts
29 IDBI BANK/2013- 5/12/2013 Capturing Information of „Beneficial Owner‟ (BO) in
2014/527/BOSPD/BOSPD- Account Opening Form & Finacle
273
30 IDBI BANK/2013- 16/11/2013 Change of Name of Clients – Operational Process
2014/483/BOSPD/BOSPD-
262
31 IDBI BANK/2013- 16/11/2013 Revised Guidelines on Branch Head Visit Report
2014/482/BOSPD/BOSPD- Requirement & Tele-verification
261
32 IDBI BANK/2013- 16/11/2013 Due Diligence in Correspondent Banking Relationship
2014/480/BOSPD/BOSPD-
259
33 IDBI BANK/2013- 21/10/2013 Introduction of Account Opening Memorandum for
14/427/BOSPD/BOSPD-236 Account Opening
34 IDBI BANK/2013- 30/09/2013 Opening of Accounts of Foreign Students studying in
14/391/BOSPD/BOSPD-224 India – Revised Guidelines
35 IDBI BANK/2013- 19/09/2013 Risk Categorization of Clients engaged in Real Estate
14/372/BOSPD/BOSPD-217 / Building Construction / Activities of similar nature,
Real Estate Agents and Brokers
36 IDBI BANK/2013- 6/8/2013 KYC & AML – Document Verification & Attestation-
2014/277/RBG/BO-171 Revised Guidelines
117
37 IDBI BANK/2013- 3/8/2013 Seeding of Aadhar number – Revised Guidelines

2014/273/RBG/BO-168
38 IDBI Bank/2013-14/265/ 1/8/2013 Risk rating of Products and Services from Money
RBG/CO/163 Laundering (ML)/ Terrorist Financing (TF) angle
39 IDBI BANK/2013- 30/07/2013 Periodical Updation of KYC (Know Your Customer) –
2014/257/RBG/BO-157 Revised Guidelines
40 IDBI BANK/2013- 27/07/2013 Enhanced Due Diligence on the Accounts of
2014/247/RBG/BO-152 Cooperative Banks
41 IDBI BANK/2013- 20/07/2013 Address Change by Customers – Revised Guidelines
2014/227/RBG/BO-141
42 IDBI BANK/2013- 27/06/2013 Revised Guidelines – Documentation requirement for
2014/181/RBG/BO-109 opening accounts of Limited Liability Partnership (LLP)
43 IDBI BANK/2013- 10/6/2013 Revision in description of Risk code RL 323 relating to
14/142/RBG/BO-91 Trust / NGOs / NPOs/ Unregistered Clubs /
Organisations receiving donations
44 IDBI BANK/2013- 10/6/2013 Capturing Information of Power Attorney Holder
14/141/RBG/BO-90 (POA) & Mandate Holder (MH) in Finacle
45 IDBI BANK/2013- 14/05/2013 Seeding of Aadhaar number / data to Operative
14/93/RBG/BO-65 Accounts of Customers
46 IDBI BANK/2013- 26/04/2013 Process flow for reactivation of suspended Customer
14/55/RBG/BO-47 Ids
47 IDBI BANK/2013- 22/04/2013 Small Account – Opening of Basic Banking Account
14/44/RBG/BO-39 and Accounts under Financial Inclusion
48 IDBI BANK/2012- 11/03/2012 Misuse of Savings Bank Account for non-savings
2013/663/RBG/BO-374 purposes – Actionable by branches
49 IDBI BANK/2012- 09/03/2013 Capturing Information of „Beneficial Owner‟ (BO) in
2013/660/RBG/BO-371 Account Opening Form & Finacle
50 IDBI BANK/2012- 01/03/2013 Modification in KYC documentation for Corporate
2013/645/RBG/BO-362 Payroll Accounts
51 IDBI BANK/2012- 01/03/2013 Obtaining of Permanent Account Number (PAN)
2013/645/RBG/BO-361 while Opening of Accounts & while Customer
Information Updation Exercise
52 IDBI BANK/2012- 01/03/2013 Witnessing of the Accounts opened by Illiterate
2013/645/RBG/BO-360 person(s) using Thumb Impression
53 IDBI BANK/2012- 01/03/2013 Updation of Area code in the customer Master Data
2013/640/RBG/BO-358
54 IDBI BANK/2012- 06/02/2013 Clarification on Documentation required for Opening
2013/600/RBG/BO-337 of Accounts
55 IDBI BANK/2012- 06/02/2013 Modifications in existing provisions on Know Your
2013/599/RBG/BO-336 Customer (KYC) norms
56 IDBI BANK/2012- 17/12/2012 Opening of Accounts of Foreign National who come
2013/559/RBG/BO-319 to country for Employment
57 IDBI BANK/2012- 17/12/2012 Modifications in existing provisions on Know Your
2013/504/RBG/BO-286 Customer (KYC) norms
58 IDBI BANK/2012- 04/12/2012 Processing of Miscellaneous Requests at Branches
2013/482/RBG/BO-272
59 IDBI BANK/2012- 07/11/2012 Opening of Savings bank account by Self Help
2013/441/RBG/BO-244 Groups (SHGs)
60 IDBI BANK/2012- 06/11/2012 Clarifications – Accounts held in joint names of
2013/436/RBG/BO-242 Illiterate persons
61 IDBI BANK/2012- 13/09/2012 Periodical Updation of Customer Identification Data
118
13/335/RBG/CO/189 Know Your Customer (KYC) norms/Anti Money

Laundering (AML) Measures
62 IDBI BANK/2012- 11/09/2012 Modifications of Product feature and change of
13/325/RBG/PBG/182 Nomenclature in Sabka Basic Saving Account &
Sabka Savings Account
63 IDBI BANK/2012- 16/08/2012 Opening of Accounts Foreign Students Studying in
2013/265/RBG/BO-145 India, Foreign Nationals on tour to India & Foreign
National who come to country for Employment
64 IDBI BANK/2012- 08/08/2012 Accounts of Migrant Labour, Street Hawkers and
2013/252/RBG/BO-139 other poorer sections of the society - Simplified
Uniform Savings Bank Account opening form
65 IDBI BANK/2012- 06/08/2012 Unincorporated Joint Ventures – Opening of

2013/248/RBG/BO-135 Accounts and Precautions
66 IDBI BANK/2012- 13/07/2012 Checking of Proposed customers name in Caution
2013/209/RBG/BO-109 Advice list of RBI & IBA
67 IDBI BANK/2012- 0907/2012 Obtaining of Aadhaar Number issued by Unique
2013/201/RBG/BO-103 Identification Authority of India (UIADI) in existing and
new Client IDs
68 IDBI BANK/2012- 14/06/2012 Online Verification of Permanent Account Number
2013/144/RBG/BO-70 (PAN) at time of Acceptance of Account Opening
Form at Branches
69 IDBI BANK/2012- 12/06/2012 Multiple Customer Id Identification process – Finacle

2013/140/RBG/BO-69 Menu
70 IDBI BANK/2012- 10/05/2012 Aadhaar Enabled Bank Accounts (AEBA) – Aadhaar
13/87/RBG/PBG/48 Enabled Payment System (AEPS)
71 IDBI BANK/2012- 10/05/2012 Intra –Bank Deposit Account Portability
2013/88/RBG/BO-49
72 IDBI Bank/ 2012-13/ 18/04/2012 Know your Customer (KYC) Guidelines-Accounts of
46/RBG/ CO/ 28 Proprietary Concerns
73 IDBI BANK/2011- 26/03/2012 Risk Categorization of Customers – Capturing in
12/491/RBG/CO/246 Finacle
74 IDBI BANK/2011- 2/3/2012 Relaxation on KYC & AML and Power to Accept
2012/454/RBG/BO-222 Alternate Documents
75 IDBI BANK/2011- 28/02/2012 Relaxation in KYC Norms – Accounts of Proprietary
2012/449/RBG/BO-218 Concerns, Provident Fund Trusts of Large Corporates,
Trusts promoted by Large Corporates and accounts
of Private and Public Limited Companies
76 IDBI BANK/2011- 2/2/2012 Deviation Matrix on (KYC) & (AML) - revised
2012/401/RBG/BO-191 Guidelines
77 IDBI BANK/2011- 15/11/2011 Accounts of Migratory Workers - Relaxation in KYC
2012/300/RBG/BO-143 Norms
78 CPU/2011-12/234 11/10/2011 RBI Inspection 2011- Adherence to KYC/AML norms
79 IDBI BANK/2011- 10/10/2011 Know Your Customer guidelines – Revised guidelines
2012/226/RBG/BO-105 on acceptance of letter issued by Unique
Identification Authority of India (Aadhaar letter)
80 CPU/2011-12/77 28-09-2011 KYC requirements and facilitating opening/ operation
of accounts of the bank customers.
81 IDBI BANK/2011- 16/08/2011 Certificate of Commencement of Business for
2012/174/RBG/BO-75 Companies – Clarifications
119
82 IDBI BANK/2010- 25/02/2011 Compliance of KYC guidelines

2011/416/RBG/BO-193
83 CPU/2010-11/74 7/1/2011 Screening of customer name against List of Terrorist
Individuals / Organisation under UNSCR on Taliban /
Al-Qaida Organisation
84 IDBI BANK/2010- 25/02/2011 Proprietorship Accounts – Requirement of Two
2011/415/RBG/BO-192 documents in the name of Proprietary Concern for
Entity / Establishment Proof.
85 IDBI BANK/2010- 25/02/2011 Opening of Salary Accounts-Obtaining Additional
2011/414/RBG/BO-191 Document
86 IDBI BANK/2010- 5/4/2010 Prevention of Money-laundering Amendment Rules,
2011/7/RBG/BO-3 2009 – Obligation of banks / Financial Institutions
87 IDBI BANK/2009-10 20/11/2009 Adherence to KYC/AML guidelines while opening and
/228/RBG/BO-96 conduct of the accounts of Multi-Level Marketing
firms
88 CPU/2010-11/72 9/11/2009 KYC / AML Norms
89 CPU/2009-10/71 4/5/2009 KYC Norms compliance for e-UBSBU Branches
90 CPU/2008-09/69 29-09-2008 Compliance with Know Your Customer [ KYC ] Norms
91 CPU/2008-09/68 1/7/2008 Know Your Customer [ KYC ] AML Master Circular
92 CPU/2008-09/67 9/6/2008 RBI circular dated 22/05/08 AML Act 2002 - Obligation
of Banks
93 CPU/2007-08/63 18-02-2008 RBI Letter on KYC Norms
94 CPU/2007-08/62 8/2/2008 Review of KYC Guidelines
95 CPU/2007-08/52 24-09-2007 UN caution list on Iran‟s nuclear and ballistic missile
program
96 CPU/2007-08/51 19-09-2007 Customer Profiling and Risk Categorisation
97 CPU/2007-08/50 19-09-2007 List of Al-Qaida and Taliban terrorist
98 IDBI BANK/2006-07 6/2/2007 Registration under Shops & Establishment Act
/176/RBG/BO-34
99 IDBI BANK/2006-07 26/09/2006 KYC And AML Compliance
/79/RBG/BO-22
100 IDBI BANK/2006-07 19/05/2006 Compliance with KYC and Anti Money Laundering
/28/RBG/BO-10 Guidelines.
101 CPU/2005-06/41 10/03/2006 Prevention of Money Laundering Act 2002 - reporting
obligations
102 Circular No 123 29/03/2005 HUF as Partner
103 Circular No 116A 01/10/2004 KYC & Anti-Money Laundering Compliance
104 Circular No 116 02/12/2004 Requirement of Photo in bank accounts
105 Circular No 111 03/09/2004 Anti-Money Laundering - Report for Monitoring
106 Circular no 99 29/05/2004 Anti-Money Laundering Guidelines
107 Circular no 98 29/05/2004 Know your Customer (KYC)-compliance
120

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आईडीबीआई बैंक/ 2017-18/01 / बीओएसऩीडी/ बीओएसऩीडी/01 1 अप्रैऱ 2017

वर्टि करों/ववबागों/ जेएनआईफीएप के प्रबायी

वप्रम भहोदम/ भहोदमा

अऩने ग्राहक को जाननए (केवाईसी) तथा

ववश्व बय के फैंक बावी ग्राहक के साथ रयश्ते की शरु

Dear Sir / Madam

Master circular on Know Your Customer (KYC) and

Banks around the world are increasingly recognizing the importance of

This Master Circular is a compilation of the instructions contained in various

Instructions issued by Statutory Authorities / Government of India / RBI / other

Documentation for TASC (Trust, Associations, Societies and Clubs)

2.44 FATCA and CRS 50

VII Specimen of Resolution for Trust Accounts 77

B. The objectives of KYC & AML are –

1. A person who is engaged in a financial transaction or activity with a reporting

1. Customer Acceptance Policy (CAP);

1. Customer Acceptance Policy (CAP)

a. No account shall be opened in an anonymous or fictitious / benami name.

Low Risk – Level 1

g. The customer profile is a mandatory requirement and should accompany the

2. Customer Identification Procedure (CIP)

2.4 CIP needs to be carried out in the following cases: -

exceeds Rs.50,000/- , whether conducted as a single transaction or

2.8 Although customer has to be identified by using reliable, independent source

Bank account or Post Office savings bank account statement.

2.11 Documentation for Individual Accounts

c. Accounts under various Central / State Government Schemes including

2.12 Documentation for Staff Accounts

a. Proof of permanent/communication address as per Table A. Allotment Letter

2.13 Documentation for Minor Accounts (operated by Guardian)

a. ISA of the Guardian as per TABLE A.

2.14 Documentation for Minor Accounts (self-operated by Minor)

a. Letters to Minors becoming major to be sent as per Bank‟s extant guidelines.

2.16 Documentation for Illiterate Accounts

a. ISA as per Table A

a. ISA as per Table A

a. ISA as per Table A and

a. ISA as per Table A

2.21 Documentation for NRI Accounts Opened through branch

d. Valid Resident / Employment / Student visa.

 Last work contract

2.23 Documentation for Acceptance of Self Attested documents in case of account

a. NRI / PIO client shall compulsorily furnish additional documents as listed

ii. Proof of current address of the home country

2.26 Documentation for HUF Accounts

2.27.3 Registered Associations, Societies and Clubs

2.27.4 Unregistered Associations, Societies and Clubs

2.28 Documentation for Self Help Groups (SHGs)

2.29 Documentation for Sole Proprietorship

w. Acknowledgment of ITR return may be accepted provided the name of the

c. PAN Card copy of the Proprietor(Compulsory)

2.30 Documentation for Partnership Accounts:

p. RBI/SEBI Registration Certificate.

Partnership firm and not in the individual‟s name.

2.31 Documentation for Private Limited / Public Limited Companies:

g. License issued by Explosives Rules.

2.33 Documentation for Unincorporated Joint Ventures (UJV):

2.34 Documentation for Limited liability Partnerships (LLP):

2.35 Basic Savings Bank Deposit Account (BSBDA)

Following restrictions are imposed in RSBA3 scheme code :

2.36 Walk-in Customers : In case of transactions carried out by a non-account based

a. Gift card (Prepaid Card)

b. World Currency Card.