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KYC Guidelines - Accounts of Proprietary Concerns


 Notice Date : 17 April 2012

 KYC Guidelines - Accounts of Proprietary Concerns

RBI/2011-12/506

DBOD. AML.BC. No 93 /14.01.001/2011-12

April 17, 2012

 

The Chairmen / Chief Executive Officers 

All Scheduled Commercial Banks (excluding RRBs)/

All India Financial institutions/ Local Area Banks

 

Dear Sir,

 

Know your Customer (KYC) Guidelines - Accounts of Proprietary Concerns

 

Please refer to our circulars DBOD. AML BC. No. 80/14.01.001/2009-10 dated March 26, 2010 and DBOD. AML.BC. No. 38 /14.01.001/2010 -11 dated August 31, 2010 regarding customer identification procedure for opening accounts of proprietary concerns.

 

2. On a review, it has been decided to include the following documents in the indicative list of required documents for opening accounts of proprietary concern:

        i.            The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/ acknowledged by the Income Tax Authorities.

      ii.            Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern.

 

Yours faithfully,

(Sudha Damodar)

Chief General Manager

 

 

Guest
on 18 April 2012
Notification No : RBI/2011-12/506
Published in Others
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