What Is Officially Valid Documents?

Is Aadhaar Ovd?

as e-Aadhaar, masked Aadhaar and offline electronic Aadhaar xml pro UIDAI, which are various forms of Aadhaar, as Officially Valid Documents (OVD) for KYC purpose..

How many documents are known as officially valid documents for KYC purpose?

fiveThe five officially valid documents include the passport, driving licence, voter ID card, PAN card and job card issued by the NREGA. These were notified by the RBI in July 2017 following a government notification on prevention of money laundering.

Is Aadhaar a proof of citizenship?

Aadhaar is the world’s largest biometric ID system. … Considered a proof of residence and not a proof of citizenship, Aadhaar does not itself grant any rights to domicile in India.

Is PAN card mandatory for KYC?

The Reserve Bank of India (RBI) has made Aadhaar and PAN cards mandatory for opening bank accounts. The RBI said the updated know-your-customer (KYC) requirement was subject to the Supreme Court’s final judgment on Aadhaar, for which the hearing is under way.

What is Aadhaar based KYC?

An Aadhaar-based e-KYC is an electronic process for investors to complete their KYC formality with the service provider by using their Aadhaar number.

Is KYC mandatory in SBI?

The SBI has asked its customers to contact their respective SBI branch with KYC documents to stop their accounts from being frozen. For the uninitiated, the Reserve Bank of India has made the KYC process mandatory for all bank customers.

Which is not official KYC document?

A person without valid KYC documents but categorised as ‘low-risk’ can open an account by submitting any of the following-identity card with applicant’s photograph issued by a central/state government department, statutory/regulatory authority, public sector undertaking, scheduled commercial bank or public financial …

What do banks keep to prove your identity?

Almost every bank requires you to present a valid government-issued photo ID when opening a checking account. This verifies that you are who you say you are and allows the bank to match your name to your face. … Other forms of government-issued ID include a valid passport or a U.S. military identification card.

What is the list of KYC documents?

Resolution on the entity letter head for opening a current account in the name of the AIF. SEBI registration certificate in the name of the Fund. PAN card of the Fund. Place memorandum and fee receipt for the scheme.

How many OVD are there in KYC?

(i) Seek OVDs notified by the Government are (1) the passport, (2) the driving license, (3) the Permanent Account Number (PAN) Card, (4) the Voter’s Identity Card issued by Election Commission of India, (5) job card issued by NREGA duly signed by an officer of the State Government, (6) the letter issued by the Unique …

Which of the following documents Cannot be accepted as officially valid documents?

“Officially valid document” (OVD) for KYC means the a) Passport b) Driving licence c) Permanent Account Number (PAN) Card d) Voter`s Identity Card issued by the Election Commission of India e) Job card issued by NREGA duly signed by an officer of the State Government.

Is Aadhaar card a KYC document?

KYC or Know Your Customer is a compulsory process that most mobile companies and financial institutions require their customers to complete. Although an Aadhaar card can be used as a KYC document, the entire KYC process still takes a relatively long period of time to complete due to documentation.