Index

What Documents Are Required for KYC?

Q: What documents are required for KYC?

KYC documents include an Aadhaar, Voter ID, passport, etc., which acts as proof of identity, and an Aadhaar card, Voter ID, utility bills, etc., that can act as an address proof along with a PAN card and a recent photo.

Q: What are the basic requirements for KYC?

The basic KYC requirements are documents that can be produced as identity and address proof.

Q: What is required for KYC verification?

The KYC documents are required for KYC verification. The KYC documents are documents that can be produced as proof of identity and address.

Q: Is a PAN card a KYC document?

Yes, a PAN card is a KYC document mandated by the Reserve Bank of India. Hence, keeping your PAN card handy is always recommended if you carry your ID proof and address proof.

By Mayashree Acharya

The documents required for bank KYC help financial institutions verify your identity and address before providing banking and financial services. Understanding the documents required for KYC can help you complete the verification process quickly and comply with RBI guidelines.

Documents Required for Bank KYC

Particulars	Details
Identity Documents Accepted	Aadhaar card, Passport, PAN card, Driving Licence, Voter ID card and other officially valid documents accepted by the regulated entity
Address Documents Accepted	Aadhaar card, Passport, Driving Licence, Voter ID card, Utility Bill, Rental Agreement, Bank Statement and Ration Card
KYC Verification Methods	Online (e-KYC/Video KYC) and Offline (In-person KYC)
Original Documents Required	May be required for verification during in-person KYC
Applicable For	Banks, NBFCs, insurance companies, mutual funds and other RBI-regulated financial institutions

Why are Documents Required For KYC?

The Reserve Bank of India initiated the KYC process as a part of compliance with the Prevention of Money Laundering (PML) Act and rules. The RBI introduced this process in 2004 and instructed all financial institutions to make KYC compliance mandatory for all their customers.

Documents required for bank KYC and other financial institutions ensure that all the financial transactions are carried out legally and comply with the anti-money laundering norms.
KYC compliance also enables the authorities to track bank accounts that carry out malpractices, financial frauds, and transactions associated with terrorism funding, money laundering, or any other illegal offences.

List Of Valid KYC Documents

Here is the list of valid KYC documents that would be required to be provided to the respective authorities for completing the KYC process:

I. Proof of Identity (Any one of the following documents)

Aadhaar card
Passport
Driving licence
Voter ID
PAN card
Photo ID cards issued by the Central or State government entities, public financial institutions and public sector undertakings

II. Proof of Address (Any one of the following documents)

Voter ID card
Driving license
Passport
Utility bills, such as water bill, electricity, gas bill, or telephone bill (not older than one month)
Ration card
Rental agreement
Sale deed
Passbook or bank statement containing the address

Types of KYC Verification Processes

There are two types of KYC verification processes, and both are equally authentic and effective. It entirely depends on the level of convenience the applicant wants to avail. The types of KYC verification processes are as follows.

I. Online KYC or e-KYC

The e-KYC or online KYC is a verification process conducted online and can be convenient for anyone accustomed to internet connectivity devices such as a smartphone, tablet, laptop, or desktop, or those who cannot travel due to age, disability or health concerns. For this type, you must upload a scanned copy of your identity proof and address proof or produce the documents required for bank KYC through a video call (Video KYC) to complete KYC.

II. In Person KYC

The KYC verification process is carried out offline in person. You can do this by visiting the bank, regulated entity or financial institution in person or visiting your nearest KYC kiosk to verify and authenticate your biometrics and KYC documents. Nowadays, banks and financial institutions also send a KYC executive to your place to conduct in-person KYC verification.

How to Submit KYC Documents to the KYC Registration Agency

The documents for KYC that are required to be submitted to KYC Registration Agency (KRA) can be done using online and offline mode.

I. Online or e-KYC

Visit the official website of the KRA (KYC Registration Agency).
Log in to the website using your mobile number.
Scan the required documents and upload them in their respective field.
Accept the terms and conditions and confirm the above-entered details to complete the process.

II. Offline or in-person KYC

Download the ‘Know Your Customer’ application form.
Fill in the necessary details, such as your Aadhaar number, PAN number, etc.
Visit your nearest KRA (KYC registration agency) office.
Submit the duly filled KYC form along with the attached address proof and ID proof.
Complete the biometric process if necessary.

Submitting the correct documents required for bank KYC helps financial institutions verify your identity and comply with RBI regulations. Keep your identity and address proof updated and ensure the documents submitted are valid to complete the KYC process without delays.