While opening a bank account KYC docs should be obtained as per the KYC guidelines of RBI.
Whether a bank can have a defferal policy for KYC docs say 30 days defferal.
Or without having KYC docs an acct can't be opened ?
Dinessh Kumar (Articled Asst.,) (193 Points)
06 November 2009While opening a bank account KYC docs should be obtained as per the KYC guidelines of RBI.
Whether a bank can have a defferal policy for KYC docs say 30 days defferal.
Or without having KYC docs an acct can't be opened ?
Sunil
(Trader)
(2611 Points)
Replied 06 November 2009
A no frills account can be opened. However, you can not deposit over Rs.1,00,000/- in a year and at no time the Balance should be over Rs.50,000. You can maintain zero balance. However some KYC documentation should be there to identify you. You may not be able to provide the address proof in your name but you will not be denied banking facilities. Ask your Bank for the no frills or Janta account. You will not get check book but you can get ATM Card to withdraw money (not a debit card). See what documents they require for such accounts. However, for a proper checking account you need to comply KYC.
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