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Know your documents

Last Updated: Wed, Dec 12, 2012 21:30 hrs

A rare error in a Reserve Bank of India (RBI) notification has caused minor confusion among bankers. In order to relax Know Your Customer norms for opening bank accounts, an RBI-issued notification had said a customer need not furnish a separate proof of address if the identity document carries the same address. Giving examples of such documents, RBI listed driving licence and passport. It also added PAN (permanent account number) card to this list. Now, it’s well-known that a PAN card carries only an individual’s permanent account number, name, father or husband’s name, date of birth and a photograph, but never the address.

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