RRBs - KYC guidelines – Accounts of Proprietary Concerns
September 9, 2010
All Regional Rural Banks (RRBs)
Know Your Customer (KYC) guidelines – accounts of proprietary concerns
Please refer to our circular RPCD. CO. RRB. AML. No. 67/03.05.33 (E) /2009-10 dated April 9, 2010 advising all RRBs to lay down criteria in their customer identification procedure for opening accounts of proprietary concerns.
2. In this connection, it is clarified that in addition to the documents listed in paragraph 2(i) of our circular referred to above for opening a bank account in the name of a proprietary concern, RRBs may also accept any registration/licensing document issued in the name of the proprietary concern by the Central Government or State Government Authority/Department. RRBs may also accept IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT as an identity document for opening of bank account.
3. Please acknowledge receipt to our Regional Office concerned.
Chief General Manager