The document outlines the account opening formalities and Know Your Customer (KYC) norms for opening a bank account. It states that the applicant must visit the bank in person, fill out and sign the application form, provide photographs and valid identity and address proofs. It also discusses KYC requirements such as valid identity documents, address proofs, and additional documents that may be required in case of doubts. The document further explains anti-money laundering procedures that banks must follow including customer identification, reporting suspicious transactions, and appointing an MLRO.

1. ACCOUNT OPENING FORMALITIES

3. Applicant should attend the Bank personally
Furnished with abridged version of rules.
Dully fill in and sign the prescribed application form
Submit one copy of the recent passport size photographs;
affixed on application form
 Incase of illiterate person, 2 photos-affixed in passbook and
other in account opening form

4. Account holder’s signatures must be legible and well formed
Signatures in capital or block letters are not acceptable.
Other Requirements
PAN Number/ declaration in Form 60

5. Form 61- Agricultural Income
Minor-Date of Birth
Illiterates- Identification Marks
Application form submitted with initial deposit

6. KYC NORMS

7. The applicant will need to furnish proof of
identity and proof address:
Proof of Identity:
1. Passport
2. Voter ID Card
3. PAN Card
4. Govt./Defense ID Card
5. ID cards of reputed employers.
6. Driving Licenses.

8. Proof of Address :
1. Credit Card Statement
2. Salary Slip
3. Income/Wealth Tax Assessment Order.
4. Electricity Bill
5. Telephone Bill
6. Statement of Bank account
7. Letter from reputed employer
8. Letter from any recognized authority
 Additional documents may also be called for…in case of
doubts.
Joint Accounts not closely related- establish their identity &
address separately

9. For No Frill savings bank account;
2 photographs of person
Self certified address proof
Balances limited to Rs 50000 & total transaction per year Rs
200000
On exceeding limit-Normal KYC norms
Officer scrutinize originals of photo ID/Address proof &
satisfy prima facie authenticity.
Photocopies are authenticated & kept long with account
opening form.

10. PREVENTION OF ANTI-MONEY
LAUNDERING

11. Section 3 of the Prevention of Money Laundering
Act, 2002 (PMLA)
“whosoever directly or indirectly attempts to indulge
or knowingly assists or knowingly is a party or is
actually involved in any process or activity connected
with the proceeds of crime and projecting it as
untainted property shall be guilty of offence of money-
laundering.”
Amendment on Feb 2005 based on recommendations
made by the Financial Action Task Force (FATF) on
Anti Money Laundering (AML) standards and on
Combating Financing of Terrorism (CFT).

12. AML centers around following measures:
Customer Identification Procedure – “Know Your Customer”
norms.
Recognition, handling and disclosure of suspicious
transactions
Appointment of Money Laundering Reporting Officer
(MLRO)
Staff Training
Maintenance of Records