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FAQ's For Opening The Bank Account As Per New RBI Guidelines

The RBI guidelines for opening bank accounts have changed and now require both identity and address proof. Acceptable proofs include a passport, driver's license, Aadhaar card or voter ID. The address on the proof must match the current or permanent address provided. If there is a mismatch, additional address proofs like a utility bill or bank statement can be provided. Existing Citibank customers do not need to provide these documents to link their existing account as a corporate salary account.

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Sarath Kruthiventy
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73 views2 pages

FAQ's For Opening The Bank Account As Per New RBI Guidelines

The RBI guidelines for opening bank accounts have changed and now require both identity and address proof. Acceptable proofs include a passport, driver's license, Aadhaar card or voter ID. The address on the proof must match the current or permanent address provided. If there is a mismatch, additional address proofs like a utility bill or bank statement can be provided. Existing Citibank customers do not need to provide these documents to link their existing account as a corporate salary account.

Uploaded by

Sarath Kruthiventy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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FAQs for Opening the Bank Account as per new RBI

Guidelines
Context:
in light of recent change in RBI guidelines our banking partners requirement for
opening bank account have changed and Citibank will now require Identity proof
as well as address proof from all new joiners
Earlier process:
Citibank was accepting Government issued Identity Proof for opening bank account.
This was primarily PAN card.
New Process:
Our corporate banking partner will require both Identity and address proof for opening a
salary account. Therefore employees are required to bring any one of the below listed
documents to open the corporate salary account, as applicable.

Documents which have both Address Proof and Id Proof:

Passport
Driving License
Aadhaar Card
Voters ID Card

Employees mention current and permanent address on the bank account form. Above proof
should support any one of the address mentioned on the bank account form. In case there is
a mismatch in address between any one of above documents above and bank account
opening form then below mentioned additional address proofs (any one of them) will be
required to be submitted along with the Bank Account Opening form.
Utility Bill not more than two months old with name and address (Landline Telephone
Bill, Postpaid mobile Bill, Electricity Bill, Water or Piped Gas Bill)
Property or Municipal Tax receipt in the name of customer
Bank or Post-office account statement printed on bank's letterhead not more than 3
months old, signed and stamped by existing banker. The Bank account statement has
to be from a Scheduled Commercial Bank.
Documents issued by Government departments of foreign jurisdictions and letter
issued by Foreign Embassy or Mission in India.

FAQs for Opening the Bank Account as per new RBI


Guidelines
Q.1: The accounts were being opened basis the PAN Card why I need to submit
another Proof?
Ans.:

The Pan card doesnt have the address of employee, therefore as per RBI guidelines
employee should produce a documents which should have both Photograph and
address.

Q.2:

Do I need to submit all these documents if I am an existing Citibank


banking customer?

Ans.:

In case of an existing account, you are not required to submit any aforesaid listed
document; your account will be mapped as corporate bank account after filling the
form during New Hires orientation.

Q.3:

What if I fill up the wrong information in bank account form against my ID


Proofs?

Ans.:

The bank relationship team will contact to inform you about the gaps and further
necessary action to correct the bank account form.

Q.4:

what if the address on all aforesaid documents is not matching with current
and permanent address?

Ans.:

You can submit any of following documents along with the Bank form:

Utility Bill not more than two months old with name and address (Landline Telephone
Bill, Postpaid mobile Bill, Electricity Bill, Water or Piped Gas Bill)
Property or Municipal Tax receipt in the name of customer
Bank or Post-office account statement printed on bank's letterhead not more than 3
months old, signed and stamped by existing banker. The Bank account statement has
to be from a Scheduled Commercial Bank.
Documents issued by Government departments of foreign jurisdictions and letter
issued by Foreign Embassy or Mission in India.

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