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Kyc- some confusion

(Querist) 27 October 2011 This query is : Resolved 
KYC- "Know Your Customer"

presently bank are asking to fill the form of KYC in which photo ID and Address proof is required.My mother can't furnish Ration card,pen card and photo id card due to some reason. My mother have Military Hospital Identity Card (MH Card) in which her photo and present address is shown, including her finger print. I read somewhere in KYC norms that if in the identity a photo and complete address is shown then it is not necessary to submit other documents related to Address proof. But i am not fully sure of this. i want to ask, can i furnish MH card to the bank? without any other proof. Also I want to ask another question, my mother is not an investor and i think KYC is for those who wants to invest in Mutual Funds and other Investments in future,am i rite? My mother withdraw only pension, So is it compulsory to fill KYC form for her? (she don't do any investment relating thing through this account). IF she don't fills the KYC forms , would the bank stop her pension? or something else?
Shailesh Kr. Shah (Expert) 27 October 2011
1. Submit MH Card to the bank, as already mentioned about in their list.
2. KYC is mandatory for bank's customer also irrespective fact that she is investing or not in mutual fund or other investment.
M.Sheik Mohammed Ali (Expert) 27 October 2011
yes, i do agree expert query reply
Sankaranarayanan (Expert) 27 October 2011
yes just you send the MH . if further any letter come then you can think further
Guest (Expert) 27 October 2011
Of course, MH card can also serve the purpose of address proof. However, you may like to get necessary change in name of your mother in ration card also, as suggested by me against your earlier post at the following link:

http://www.lawyersclubindia.com/experts/Drawing-two-pensions-with-different-names-242586.asp
ajay sethi (Expert) 27 October 2011
KYC is mandatory for maintenance of bank accounts too . MH card can serve as address proff as issued by miltary authorities
prabhakar singh (Expert) 27 October 2011
I agree with experts.No more needed.
Shonee Kapoor (Expert) 27 October 2011
KYC is now mandatory, however, in rural areas for zero balance accounts (w/o Chequebook facility), relaxed KYC norms are accepted by Nationalized banks, in which the Pradhan of the Village and Bank Officer after inspection can dispense with certain requirements like Ration Card etc and can accept other document in lieu of that.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com
Raj Kumar Makkad (Expert) 27 October 2011
I do agree with common views of all experts.
M V Gupta (Expert) 28 October 2011
As per the recent instructions notified by some of the banks, if KYC is not complied with the operation of the Account will not be permitted.
RAJU O.F., (Expert) 29 October 2011
For operation of bank account KYC norms are to be compulsorily complied with. In your mothers case submit copy of available ID and address proof and explain to the bank the actual position. Any reasonable banker would accept it.


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