KYC Requirement of Banks

KYC DOCUMENTS REQUIRED FOR CURRENT ACCOUNTS IN BANKS

Permanent Account Number (PAN) Card/ Form 60 in the name of firm. KYC documents of all operators and beneficial owner including individual PAN card/ Form 60, Passport, Aadhaar letter/ Card, Driving license, Job card issued by NREGA duly signed by an officer of the Voter’s Identity Card State Government
A declaration from the applicant to the effect that the applicant does not enjoy any credit facilities from any other banks or NOC from the lending banker, if customer enjoys credit facilities from other Banks.

DOCUMENTS FOR UNINCORPORATED BODIES

  • Copy of the Rules or Byelaws/ Trust Deed (If registered, Certificate of Registration). 
  • If there are no printed rules or Byelaws, a letter signed by the Chairperson or head of the association with details and objects, financial rules and details of operators must be taken.
  • A copy of the resolution passed by the executive committee or a competent body regarding persons authorized to open and operate the account
  • Telephone/utility bill/any other valid proof confirming address. 

DOCUMENTS FOR CO-OPERATIVE SOCIETIES

  • Copy of Rules and Byelaws of the Society. 
  • Copy of the resolution passed by the society in accordance with byelaws, authorizing the opening of account with the bank and appointing operators. 
  • Registration certificate from the office of the Registrar of Co-operative societies.
  • Copy of Power of Attorney granted to its operators
  • Permission/confirmation from the Office of the Registrar of Co-operative Societies for opening the account shall be obtained, wherever required or where prior approval of Registrar for the purpose is not available. Bank may consult Panel Advocate/Legal Officer Government-Quasi Government Institutions and Local Bodies.

GOVERNMENT-QUASI GOVERNMENT INSTITUTIONS AND LOCAL BODIES

  • Copy of Government order or the statutory provisions
  • A certified copy of the Byelaws and Resolution passed by the Local body for opening account in the bank and appointing the operators. 
  • A letter issued by the immediate officer (reporting authority) confirming the authority of the official to open and operate the account and attesting the signature or the Government Order to that effect.

DOCUMENTS FOR LIMITED LIABILITY PARTNERSHIP

  • Declaration signed by all the partners in firm’s letter head showing the capital contribution to determine beneficial ownership if shareholding is not given in LLP agreement
  • Copy of the LLP agreement.
  • Copy of Certificate of Incorporation issued by ROC. It includes DPIN (Designated Partner Identification Number) of the designated partners and LLP-IN (Limited Liability Partnership Incorporation Number) 
  • Copy of the Resolution to open an account and list of authorized person/s with the specimen signatures to operate the account duly attested by Designated Partners.

DOCUMENTS FOR PARTNERSHIP

  • Copy of partnership deed.
  • Registration Certificate, if registered
  • Copy of latest telephone / utility bill/license in the name of firm, if the firm is not registered.    

DOCUMENTS FOR PRIVATE LTD COMPANY

  • Copy of Certificate of Incorporation
  • Copy of Memorandum and Articles of Association certified as the up-to-date copy with all amendments. Form 32/ DIR 12 /confirmation from the MCA site containing latest list of Directors. 
  • Any one of the following Documents (whichever is applicable) Copy of Certificate of Commencement of Business, if available (For Public Companies incorporated under Companies Act, 1956)
  • Acknowledgment of filing of INC – 21 & verification of registered office with ROC, if available (For all Companies incorporated under Companies Act, 2013) 
  • A certified copy of the resolution of the Board of Directors appointing the Bank as the Company’s Banker
  • A certified copy of the resolution of the Board of Directors authorizing the officers to open and operate accounts
  • Power of Attorney, if granted to its managers, officers or employees to transact business on its behalf
  • Copy of the telephone/utility bill/any valid proof confirming the address.
  • Declaration from the company showing latest share holding pattern.