What do you mean by KYC guidelines?

·         KYC means “Know Your Customer” guidelines. According to the guidelines issued by RBI, banks insist certain documents

·         KYC as an antimoney laundering tool and the main purpose of KYC is to permit genuine public open accounts with the banks.

·         According to KYC guidelines, the bank demands address proof and identity proof from the public when they open deposit accounts with the bank.

·         For address proof copies of anyone of the following namely;  Driving licence,  Voter ID card, AATHAAR card, Passport etc. are obtained.

·         For identity proof, copies of identity cards issued by the employers, voter ID card, driving licence, AATHAAR card, PAN Card etc. are obtained by the bankers.