Recently I visited a nationalized bank in Hyderabad to open a saving account for my sister, submitted her PAN card copy as DI which is as under
Sangeeta
Sobhraj Khurana
It is understood that the first line of PAN card is the name and second Line is father’s name. She wanted to open the bank account as “ Sangeeta Sobhraj Khurana Unfortunately the bank not allowed this, they said the account tile to be only “Sangeeta” without the father name and surname in continuation. According to them as per the KYC the details printed on the pan card is only the account holder’s name. I can not understand this despite the father’s name appeared clearly on PAN Card why a person can not use her name being the full name. If KYC is really such that or the bank is apprehensive. Please advise.
2. Bank says the address proof should be on the name of account holder, they even not accept the Landline telephone bill issued on the name of father, declaring the daughter stays with him?
How in one home 7 people will have one one address proof on individual name. In lieu of this bank press hard to make rent agreement with father. In long run such kind of practice may use for many disadvantage, if the life of father his own daughter is forced to show the rent agreement, in future some one can use this as instrument to deprive of natural property right. This way RBi is hinder the people with small saving to discourage coming to bank.
Even the address printed on Aadhar card, can change if the person who is lives on rent when move to other place!
CAclubindia
