Opening bank account may become easier

Reserve Bank of India has clarified to banks that permanent correct address, means the address at which a person usually resides and can be taken as the address as mentioned in a utility bill or any other document accepted by the bank for verification of the address of the customer.

However,banks can also accept an identity document and a utility bill of the relative with whom the prospective customer is living along with a declaration from the relative that the said person (prospective customer) wanting to open an account is a relative and is staying with him/her. Banks can use any supplementary evidence such as a letter received through post for further verification of the address.

RBI has reitrated that the adoption of customer acceptance policy and its implementation should not result in denial of banking services to general public.