RBI asks banks to comply with address proof norms

In June 2014, RBI had said that customers will need to submit only one documentary proof of
address
The Reserve Bank of India (RBI) on Monday said banks should ensure that customers are not
unnecessarily asked to submit additional proofs of addresses for current addresses, in cases
where proofs of addresses for permanent addresses are already available.

In June 2014, RBI had said customers will need to submit only one documentary proof of
address (either permanent or current), while opening a bank account or while undergoing
periodic updation. Earlier, customers also had to submit a local address proof to the bank.

Despite this instruction, RBI said some banks are still insisting on submission of a proof of
address for the current address even when a customer produces a proof of permanent address.
This, said RBI, prevents many prospective customers, especially migrant workers, from opening
bank accounts.

RBI has asked banks to confirm latest by Friday that the instruction has been communicated to
all their branches and the same have been meticulously complied with.

(Business Standard)