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Aadhaar Can Still Be Used For KYC By Banks On Customer's Consent: RBI

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On Wednesday, after the RBI updated the list of documents eligible to be produced for identification verification, it said the banks after consent from customers can use their aadhaar for KYC verification.

 

Time and again RBI revises and hence specifies the rules and regulations that need to be adhered to by banks and other institutions that come within the purview of the central bank for the different customer services that include bank account opening.

Aadhaar Can Still Be Used For KYC By Banks On Customer's Consent: RBI

"Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose," the central bank said in its amended Master Direction on KYC.

In February this year, the Centre announced of an ordinance for voluntary use of aadhaar as the identity proof for account opening or availing a new telecom connection.

Additionally, the RBI clarified that proof of possession of aadhaar has been included in the list of officially valid documents.

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Read more about: rbi banks kyc
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