RBI/2011-12/506
DBOD. AML.BC. No 93 /14.01.001/2011-12

April 17, 2012

The Chairmen / Chief Executive Officers
All Scheduled Commercial Banks (excluding RRBs)/
All India Financial institutions/ Local Area Banks

Dear Sir,

Know your Customer (KYC) Guidelines – Accounts of Proprietary Concerns

Please refer to our circulars DBOD. AML BC. No. 80/14.01.001/2009-10 dated March 26, 2010 and DBOD. AML.BC. No. 38 /14.01.001/2010 -11 dated August 31, 2010 regarding customer identification procedure for opening accounts of proprietary concerns.

2. On a review, it has been decided to include the following documents in the indicative list of required documents for opening accounts of proprietary concern:

  1. The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated/ acknowledged by the Income Tax Authorities.
  2. Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern.

Yours faithfully,

(Sudha Damodar)
Chief General Manager

——————————–

RBI/2011-12/511
RPCD.CO.RRB.RCB.AML.BC.No.70/07.40.00/2011-12

April 18, 2012

The Chairmen / CEOs of all Regional Rural Banks/
State and Central Co-operative Banks

Dear Sir,

Know Your Customer (KYC) Guidelines – Accounts of Proprietary Concerns

Please refer to our circulars RPCD.CO.RRB AML.No.67/ 03.05.33(E)/2009-10 dated April 9, 2010; RPCD. CO. RF. AML. BC. No. 83/07.40.00/ 2009-10 dated May 12, 2010 and RPCD. CO. RRB. AML. BC. No.19/ 03.05.33(E)/ 2010-11 dated September 9, 2010; RPCD.CO.RF.AML.BC.No.20/ 07.40.00/2010-11 dated September 13, 2010 regarding customer identification procedure for opening accounts of proprietary concerns.

2. On a review, it has been decided to include the following documents in the indicative list of required documents for opening accounts of proprietary concern:

  1. The complete Income Tax return (not just the acknowledgement) in the name of the sole proprietor where the firm’s income is reflected, duly authenticated/acknowledged by the Income Tax Authorities.
  2. Utility bills such as electricity, water, and landline telephone bills in the name of the proprietary concern.

Yours faithfully,

(C.D.Srinivasan)
Chief General Manager

More Under Fema / RBI

Posted Under

Category : Fema / RBI (3249)
Type : Notifications (15212) Notifications/Circulars (30060)
Tags : KYC (19) KYC norms (26) RBI Notifications (1850)

Leave a Reply

Your email address will not be published. Required fields are marked *