Mumbai, Oct 14 (KNN)  The Reserve Bank of India (RBI) has asked all scheduled commercial banks (excluding RRBs)/local area banks / and all India financial institutions to comply with one address proof norm and not bother prospective customers in this regard.

In a notification yesterday, the apex bank said, “it has been brought to our notice that despite issuing clear instructions regarding the requirement of one proof of address whether permanent or current, 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, which prevents many prospective customers, especially migrant workers, from opening bank accounts.”

RBI has drawn attention to its circular of June-9 pertaining to the one address proof norm and the poster on KYC simplification measures it initiated.

In view of the above, banks are advised to 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.

Significantly, banks have been asked to confirm latest by October-17, that the above mentioned instruction has been communicated to all their branches and the same have been meticulously complied with.  (KNN/ES)