Customers can submit only one address proof for opening deposit account, RBI
Updated: Jul 11, 2014 11:43:58am
Mumbai, Jul 11 (KNN) Customers need to submit only one proof of address, either current or permanent while opening a deposit account or while undergoing periodic updation, RBI said as it simplifies the procedures after receiving several representations on the issue.
Reserve Bank has been receiving representations / references from various quarters, especially migrant workers, transferred employees, etc. regarding problems faced in submitting a proof of current / permanent address while opening a deposit account, RBI said in a notification.
Henceforth, customers may submit only one documentary proof of address (either current or permanent) while opening a deposit account or while undergoing periodic updation. In case the address mentioned as per 'proof of address' undergoes a change, fresh proof of address may be submitted to the NBFC within a period of six months, the notification added.
In case the proof of address furnished by the customer is not the local address or address where the customer is currently residing, the NBFC may take a declaration of the local address on which all correspondence will be made by the NBFC with the customer.
No proof is required to be submitted for such address for correspondence/local address, RBI said.
This address may be verified by the NBFC through 'positive confirmation' such as acknowledgment of receipt of – letter; telephonic conversation; and visits; etc. In the event of change in this address due to relocation or any other reason, customers may intimate the new address for correspondence to the NBFC within two weeks of such a change, the RBI notification added. (KNN/SD)
Reserve Bank has been receiving representations / references from various quarters, especially migrant workers, transferred employees, etc. regarding problems faced in submitting a proof of current / permanent address while opening a deposit account, RBI said in a notification.
Henceforth, customers may submit only one documentary proof of address (either current or permanent) while opening a deposit account or while undergoing periodic updation. In case the address mentioned as per 'proof of address' undergoes a change, fresh proof of address may be submitted to the NBFC within a period of six months, the notification added.
In case the proof of address furnished by the customer is not the local address or address where the customer is currently residing, the NBFC may take a declaration of the local address on which all correspondence will be made by the NBFC with the customer.
No proof is required to be submitted for such address for correspondence/local address, RBI said.
This address may be verified by the NBFC through 'positive confirmation' such as acknowledgment of receipt of – letter; telephonic conversation; and visits; etc. In the event of change in this address due to relocation or any other reason, customers may intimate the new address for correspondence to the NBFC within two weeks of such a change, the RBI notification added. (KNN/SD)
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