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Govt Clarifies On Ease In Aadhaar KYC Is For Bank A/c


With reference to the notification dated November 13, 2019, the department of revenue, ministry of Finance has clarified that the amendment made to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 per se ease of Aadhaar KYC is for opening of bank account and has nothing to do with simplification for change of address in Aadhaar.


Govt Clarifies On Ease In Aadhaar KYC Is For Bank A/c

"The amended PMLR applies only to Aadhaar KYC purposes for opening of bank account and not for the change of Address in Aadhaar card. If a person has moved residence for purposes of work and needs to use Aadhaar KYC for opening a new bank account or change his bank branch, etc., he can give a self declaration of new address while retaining the original address on his Aadhaar card", Revenue Secretary, Ajay Bhushan Pandey said.

He said that such a norm simplifies bank account opening for those who live at a place different than that mentioned in their Aadhaar database. So such people can provide the local residence address by attaching their self-declaration along with the proof of address in respect of the current address.

Say for instance if you as a native of UP now move to Delhi then for opening the bank account you need to provide the address proof in respect of the current address together with the self-declaration and this will suffice for aadhaar KYC.

Read more about: aadhaar kyc bank account
Story first published: Friday, November 15, 2019, 9:59 [IST]
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