इ डयनओवरसीज़बकIndian Overseas Bank

क यकायालय, चे C
ै entral Office, Chennai
केवाइसीक KYC CELL

HANDBOOK ON KYC

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Sl Description Page No
No.
1 Why KYC/AML/CFT Guidelines 3
2 Golden Rules of KYC/AML/CFT 4
3 General Guidelines 5
4 Cases where accounts should not be opened 6
5 For whom accounts can be opened 7
6 Some Definitions 8
7 Officially Valid Documents 9
8 SB Small Accounts 11
9 Proprietorship Accounts 12
10 Beneficial Owners 13
11 Partnership Accounts 15
12 Trust Accounts 16
13 Unincorporated association or a body of individuals 17
14 Opening Accounts for Juridical persons 18
15 Opening of accounts for Limited Companies 19
16 Account opening for Self Help Groups 20
17 Accounts of Foreign Students 21
18 Walk in Customers 22
19 Unique Customer Identification (UCIC) 23
20 Risk Categorization 24
21 Single Transaction Threshold Limit(STTL) 26
22 Updation of Customer Data 27
23 Accounts politically Exposed Persons (PEP) 28
24 Central KYC (CKYC) 29
25 How to do CKYCR Scanning and uploading 30
26 Deletion of Wrong Scanning in CKYC application 32
27 CKYC Reports 33
28 Tips to open account 34

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29 Check List for KYC 36

1. WHY KYC/AML/CFT GUIDELINES

 To prevent bank from being used, intentionally or

unintentionally, by criminal elements for money laundering or
financing of terrorism.
 To know/understand the customers and their financial
dealings better which in turn help managing the risks
prudently.
 To implement the recommendations made by the Financial
Action Task Force (FATF) on Anti Money Laundering (AML)
standards and on Combating Financing of Terrorism (CFT).
 To implement the recommendations of the Financial Action
Task Force and the paper issued on Customer Due Diligence
(CDD) for the bank by the Basel Committee on Banking
Supervision.
 Ultimately to ensure that the Bank is not used as a conduit,
knowingly or unknowingly, for Money Laundering and
Financing of terrorism.
 To understand the level of risk each account/transaction
bears and the steps to be taken to manage them.
 To manage the risk associated with each account and each

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 customer and thereby ensure that the reputation of the Bank
is safeguarded.
 To know and understand its customers fully in terms of
identity, location and activity to the extent of establishing the
correctness/genuineness of the credentials for extending
better Customer Service.
 To identify adverse features, if any, associated with the
applicant (at the time of establishing banking
relationship)/customer.
 To understand customers and their activities.

2. GOLDEN RULES OF KYC/AML/CFT

 Never create/allow more than one ID for a customer

 Never allow high value transactions without recording the PAN
Number in the system.
 Never structure/split the transactions to avoid reporting or to
make it eligible transaction. If it is happening on regular basis,
then report to AML Cell, CO for filing STR.
 Never feed junk details such “xxx”, “111”, “abc” “…” etc in
creation of Master in particular and in the system in general.
 Never Use Office/nominal accounts such as Sundry creditors
Account for conducting customer transactions, except
permitted transactions such as clearing, bills realisation etc.
 Get the approval of Branch Manager for all accounts opened.
 Never ignore reporting of any suspicious transaction,.
 Always be alert in monitoring transactions.

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  Understand that it is the personal responsibility of staff
members concerned to ensure that the guidelines are
scrupulously followed.
 Understand that KYC Compliance is a regulatory requirement in
terms of RBI guidelines and statutory responsibility in terms of
Prevention of Money Laundering Act, 2002
 Special care to be taken in not putting the customer to any sort
of discomfort under the guise of KYC Formalities.

3. GENERAL GUIDELINES

 To maintain confidentiality of all the details

 Not utilize the details for cross selling or for any other
purpose without the customer’s consent.
 Not to ask intrusive or unwarranted questions.
 Not to accept cash of Rs.50,000/- and above for
remittances/issue of DD/Sale of Gold Coin/Third Party
Product.
 Not to make payment of cheques/drafts/pay
orders/banker’s cheques if they are presented beyond the
period of three months from the date of such instrument.
 Provisions of Foreign Contribution (Regulation) Act, 2010,
wherever applicable, are strictly adhered to.
 Introduction need not be insisted upon for opening bank

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 accounts of customers.

4. CASES WHERE ACCOUNTS SHOULD NOT BE OPENED

 No account is to be opened in
anonymous/fictitious/benami/nick name
 Account on behalf of other persons whose identity has not
been disclosed/Intermediary not disclosing the identity of
the beneficiary of the account.
 Account on behalf of other persons whose identity cannot
be verified.
 Customers who are non co-operative or produce unreliable
data/information to the bank.
 If customer details match with those of any person with

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 known criminal back ground.
 If customer details match with those of any person with
banned entities such as individual terrorists or terrorist
organizations, etc.

5. FOR WHOM ACCOUNTS CAN BE OPENED

 Individuals (single or jointly with others)

 Proprietary Concerns
 Self Help Groups
 Entities (Entity means a customer other than individual(s).
They are also known as legal persons.)
 HUF

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 Partnership
 Limited Liability Partnership
 Trust
 NGOs
 Societies
 Association of Persons
 Private Limited Companies
 Public Limited Companies
 Government Departments/Organisations
 Quasi-Government Organisations

6. SOME DEFINITIONS

1. The KYC policy shall include the following four Key

elements:

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  Customer Acceptance Policy
 Risk Management
 Customer Identification Procedures and
 Monitoring of Transactions

2. Designated Director – means

A person designated by the Bank to ensure overall

compliance with the obligations imposed under Chapter IV
of the PML Act and the Rules and shall be nominated by
the Board

3. Principal Officer – means

The Principal Officer shall be responsible for ensuring

compliance, monitoring transactions, and sharing and
reporting information as required under the
law/regulations

4. PML Act and Rules -

Prevention of Money Laundering Act, 2002
Prevention of Money-Laundering (Maintenance of Records)
Rules, 2005

7. OFFICIALLY VALID DOCUMENTS

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 Following is the List of Documents which are mentioned in
RBI Master Direction dated 25.02.2016 as OVD which is
updated as on 29.05.2019

OFFICIALLY VALID DOCUMENTS

Passport
Driving Licence
Aadhaar
Voter’s Identity Card
NREGA Card
Letter issued by National Population Register

 Aadhaar, Passport, Voter ID, Driving Licence, NREGA card

and National Population Register will serve both ID and
Address proof
 Apart from the above OVDs, branches must obtain PAN. If
PAN is not available, F 60 to be obtained as defined in IT
rules 1962.
 Letter issued by National Population Register, containing
details of name and address is included as Officially Valid
Documents in KYC policy which is effect from 20.04.2018

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 Where the OVD furnished by the customer does not have
updated address, the following documents shall be
deemed to be OVDs for the limited purpose of proof of
Address:
a) Utility bill which is not more than two months old
b)Property or Municipal tax receipt
c) Pension payment orders if they contain address.
d) letter of allotment of accommodation from employer
issued by State/Central Govt departments.
e)However, customer shall submit OVD with current
address within a period of three months of submitting the
above mentioned documents.

8. SB SMALL ACCOUNTS

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Whenever customers are not able to produce OVDs, account
can be opened in SB SMALL Scheme without OVD, by obtaining
self attested photograph and affixing of signature in the
opening form.

'Small Account' is having the following restrictions as per RBI

guidelines:
 The aggregate of all credits in a financial year does not
exceed Rs. One lakh
 The aggregate of all withdrawals and transfers in a month
does not exceed  Rs.10000/- 
 The balance at any point of time does not exceed
Rs.50000/-.
 Foreign inward remittances are not allowed.
 Can be opened without OVD, by obtaining self attested
photograph and
affixing of signature in the opening form.
 The self attested small account shall remain operational
initially for a period of 12 months, and further period of 12
months if the customer provides evidence of having
applied for OVD.
 If OVD is not submitted before 24 months, the account
should be blocked.
 The balance amount can be exceeded Rs.50000/- due to
credit of Benefits through DBT.

FINACLE SCHEME MENU SBSMA

9. PROPRIETORSHIP ACCOUNTS
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To open the Proprietorship Accounts, Proof of the name,
address and activity of the concern, any two of the following
documents to be obtained and verified :
Document Description
Registration Certificate
Certificate/Licence Issued by the Municipal authorities
under Shop & Establishment Act
Sales Tax/Income Tax Returns
GST Certificate
Certificate/Registration document issued by Sales
Tax/Service Tax/Professional Tax Authorities
Licence issued by Registering authority like Certificate of
Practice issued by Institute of Chartered Accountants of
India, Institute of Cost Accountants of India, Institute of
Company Secretaries of India, Indian Medical Council,
Food and Drug Control Authorities
Registration/Licensing document issued in the name of
the proprietary concern by the Central/State Govt
IEC (Importer Exporter Code)
Completer Income Tax Return (Not just the
Acknowledgement) duly authenticated/acknowledged by
the Income Tax authorities
Utility bills such as electricity, water and landline
telephone bills in the name of the proprietary concern
Unit Visit Verification Report (UVVR)

 These documents should be in the name of the

Proprietary concern

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 10. BENEFICIAL OWNERS

Beneficial Owner means the natural person

 Who ultimately owns or controls a client and/or
 The person on whose behalf a transaction is being
conducted
 And includes a person who exercises ultimate effective
control over a juridical person

Process for identification

 Where the client is a person other than an individual or
trust, the identity of the natural person, who, whether
acting alone or together, or through one or more juridical
person, exercises control through ownership or who
ultimately has a controlling ownership interest.
Controlling ownership interest means ownership
of/entitlement to more than

 25 percent of shares or capital or profits of a Company

 More than 15 % of the capital or profits of a partnership
 More than 15 % of the property or capital or profits of an
unincorporated association or body of individuals.
 In cases where there exists doubt, the identity of the
natural person exercising control over the juridical person
through other means should be ascertained
 Where no natural person is identified, the identity of the
relevant natural person who holds the position of senior
managing official.
 Where the client is a trust, identify the beneficial owners of
the such trust and take reasonable measures to verify the
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 identity of such persons, through the identity of the settler
of the trust, the trustee. The protector, the beneficiaries
with 15 % or more interest in the trust and any other
natural person exercising ultimate effective control over
the trust through a chain of control or ownership.
 Where the client or the owner of the controlling interest is
a company listed on a stock exchange, or is a majority-
owned subsidiary of such a company, it is not necessary
to identity and verify the identity of any shareholder or
beneficial owner of such companies.

Finacle menu to enter the details of H D B O

Beneficial Ownership

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11. PARTNERHSIP ACCOUNTS

To open account of a Partnership firm, the certified

copies of each of the following documents shall be
obtained:

Document Description Finacle Code

Registration Certificate
Partnership Deed
PAN of the firm

 Before opening Customer ID for the firm, open IDs

for the each partners by obtaining valid KYC/OVDs.
 Enter the Customer IDs of the partners/authorised
signatories in the system through Related party
tab
 Obtain the name of each Beneficial ownership and
their share percentage
 Enter the details of Beneficial Ownership through
HDBO Menu

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12 TRUST ACCOUNTS

To open an account of trust, certified copies of the following

documents should be obtained :

Document Description
Registration Certificate
Trust Deed
PAN or Form 60 of the trust

 Prior permission from Regional Office required

 KYC/OVD of the each member of the Trust should be
obtained
 Customer ID for each member should be created
 Customer ID of the authorised signatory should be entered
in the system through Related party Tab.
 Details of the Beneficial owners and their share
percentage should be obtained
 Enter the details of Beneficial Ownership through HDBO

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 Menu

13. Unincorporated association or a body of

individuals
To open account of an unincorporated association or a body of
individuals, certified copies of each of the following documents
shall be obtained:

 Resolution of the managing body of such association or

body of individuals
 PAN or Form 60 of the unincorporated association or a
body of individuals
 Power of attorney granted to transact on its behalf.
 KYC/OVDs for the person/s holding an attorney to
transact on its behalf and
 Such information as may require by Bank to collectively
establish the legal existence of such an association or
body of individuals

Note : 1. Unregistered trusts/partnership firms shall be

included under the
term “unincorporated association’.

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 2. Term “body of individuals” includes societies.

14. OPENING ACCOUNTS FOR JURIDICAL PERSONS

For opening accounts of juridical persons such as societies,
universities and local bodies like village panchayats, certified
copies of the following documents shall be obtained :

 Document showing name of the person authorised

to act on behalf of the entity
 KYC/OVDs of the person holding an attorney to
transact on its behalf and
 Such documents as may be required by the Bank to
establish the legal existence of such an
entity/juridical person.

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15. OPENING OF ACCOUNTS FOR LIMITED COMPANIES

One certified copy of each of the following

 Certificate of incorporation
 Memorandum and Articles of Association
 A resolution from the Board of Directors and power
of attorney granted to its managers, officers or
employees to transact on its behalf and
 An officially valid document in respect of
managers, officers or employees holding an attorney
to transact on its behalf.
 KYC for all the Directors, authorised signatories should be
obtained
 Customer ID of the Directors, authorised signatories
should be entered in the system as Related parties.

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  If the company is not a listed company, then details of
Beneficial owners and their share percentage should be
obtained
 Details of Beneficial owners should be entered in the
system through HDBO Menu

16. ACCOUNT OPENING FOR SELF HELP GROUPS

 Obtain relevant comprehensive application form including

customer profile
 Interview the office members of all the office bearers of
SHG.
 It is enough if the KYC details of Officer bearers alone are
obtained. KYC of other members need not be obtained
 Power of Attorney to operate the account to be obtained
 Group Resolution authorising the persons to operate the
account to be obtained
 Each withdrawal should be passed after verifying the
resolution of the group.
 Whenever there is a change of office bearers, ensure
proper resolution is made and signed by all the group
members.

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 17. ACCOUNTS OF FOREIGN STUDENTS

Non Resident Ordinary account can be opened on the basis of

passport (with Visa & Immigration endorsement) bearing the
proof of identity and address in the home country together with
a photograph and a letter offering admission from the
educational institution in India.
Provided

1) that a declaration about the local address shall be obtained

within a period of 30 days of opening the account and the said
local address is verified
2) provided further that pending the verification of address, the
account shall be operated with a condition of allowing foreign
remittances not exceeding USD 1000 or equivalent into the
account and a cap of Rs.50000/- on aggregate in the same,
during the 30 day period.
The account shall be treated as normal NRO account, and shall
be operated in terms of RBI's instructions on NRO Rupee
account, and the provisions of FEMA 1999.
Students with Pakistani nationality shall require prior approval

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of RBI.

18. WALK IN CUSTOMERS

 A non-account based customer who intends to make a

banking transaction is treated as a "Walk-in-Customer".
 Such transaction include purchase of
DD/remittances/para banking activities such as sale of
insurance products, gold coin, etc.
 Branches have to verify the identity and address of the
customer before undertaking the transaction.
 Branches to obtain KYC form, address,  ID proof and
should create customer ID for Walk-in customer. However,
this is not applicable to persons who visit branches to
purchase application forms being sold by us on behalf of
certain institutions.
 The ID created may be informed to the customer for his
future transactions. 
 But if he repeats various transactions,  he may be asked to
open account with us.
 If any suspicious found in the transactions of Walk-in
customer, the same should be reported to AML cell, CO for
their further course of action.

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 19. UNIQUE CUSTOMER IDENTIFICATION CODE (UCIC)

 As per RBI guidelines, one customer should have only one

Customer ID .
 The increasing complexity and volume of financial
transaction necessitate that customers should not have
multiple customer identities with a bank
 The Unique Customer Identification Code (UCIC) will help
Bank to identify customers, trach the facilities availed,
monitor financial transactions in a holistic manner.
 It enables the bank to have a better approach to risk
profiling of customers
 It facilitates smooth banking operations for the customers.
 It should be ensured that no customer is provided with
more than one Customer ID in the Bank
 Whenever two or more customer IDs are found for the
same customer it should be made Unique through HCCA
menu.

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 20. RISK CATEGORISATION

 For every account is to be assigned with one of the

following Risk Perceptions :
Low Risk RIP 1
Medium Risk RIP 2
High Risk RIP 3
Very High Risk RIP 4

 After verifying the KYC form submitted by the person who

wish to open the account with us, branch should fix the
Risk classification of the customer considering the annual
income, source of income and Customer profile. The
appropriate Risk classification viz Low, Medium, High or
Exceptionally High should be selected.

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Type of Risk Categories
RIP 1- Low Salaried employees, People belonging to lower
Risk economic society, Government Departments
and Government Owned Companies and NGOs.
RIP 2 – Individuals and entities whose accounts reflect
Medium large volume of turnover such as Real estate
Risk people, auto consultants, interior decorators,
share brokers etc
RIP 3 – High Customers for whom source of funds are not
Risk clear or are not convincing.
NRI Customers, High Network Individuals
(Annual income more than 15 lakhs)
Trusts, charities, Firm with sleeping partners,
Politically exposed persons, jewelers and
bullion dealers.
RIP 4 – Very Persons who are coming under Enforcement
High Risk Directorate, Police, Income Tax Dept, and other
enforcement agencies

Every account has to be reviewed as per following time

schedule:
Type of Risk Period Review
RIP 1 Every 12 months ie in every
December
RIP 2 -same as above-

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 RIP 3 Every 6 months ie in every
June
RIP 4 -same as above-

21. SINGLE TRANSACTION THRESHOLD LIMIT (STTL)

 For effective monitoring of transactions, we should have a limit of

amount in each account beyond which the Bank has to make
enquiries on the transaction. This limit is called Threshold Limit.

 Threshold Limit is fixed based on the Risk Categorisation and the

Annual Income (for individuals)/Annual Turn over of business (for
enterprise accounts).
 The method of arriving STTL Limit is furnished below:

RIP TYPE RETAIL CORPORATE

25 % of Annual Income 1/12th of Annual
subject to Turnover subject to
Minimum Minimum
Maximum Maximum
RIP 1 (Low-10 50000 5,00,000
Years) 20,00,000 50,00,000
RIP 2 (Medium-8 50000 4,00,000
Years) 15,00,000 50,00,000
RIP 3 (High-2 50000 3,00,000
years) 10,00,000 50,00,000
RIP 4 NO MIN OR MAX NO MIN OR MAX
EXCEPTIONAL

System will calculate STTL value automatically, once the annual

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income/turn over and RIP classification are entered. If the transaction
amount exceeds the STTL Limit, the system will throw pop up message.
If it is found suspicious, STR to be filed through AML Cell, CO.

22. UPDATION OF CUSTOMER DATA

 Bank obtains the Customer data/Documents at the time

of opening the account. In order to understand the
subsequent changes in the customers’ profile, there is
need to update the records periodically.
 As a part of Customer Due Diligence, there is need for
updating the records (Full KYC).

Every account has to be periodically updated as per

following time schedule:
Type of Risk Period of Updation
RIP 1 Every 10 years
RIP 2 Every 8 years
RIP 3 Every 2 Years
RIP 4 Every 2 years

 The extent of monitoring shall be aligned with the

risk category of the customer. For eg., High risk
accounts have to be subjected to more intensified
monitoring.
 However, in case of low risk customers when there is
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 no change in status with respect to their identities
and addresses, a self-certification to that effect shall
be obtained.

23. ACCOUNTS OF POLITICALLY EXPOSED PERSONS

(PEPs)

Politically Exposed Persons (PEPs) are individuals who are

or have been entrusted with prominent public functions in a
foreign country, e.g., Heads of States/Governments, senior
politicians, senior government/judicial/military officers,
senior executives of state-owned corporations, important
political party officials etc.
While establishing relationship with PEPs, branches,
a) Should Collect sufficient information including information
about the sources of funds accounts of family members
and close relatives is gathered on PEP.
b) The identity of the person shall have been verified before
accepting the PEP as a customer.
c) All such accounts are subjected to enhanced monitoring
on an on-going basis
d) Account should be opened with Risk categorisation RIP 4.
e) These guidelines are also applicable to accounts where a
PEP is the beneficial owner.

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24. CENTRAL KYC (CKYC)

Purpose of CKYCR:
CERSAI is allotting a unique 14 digit number to each customer whose
KYC data, Address proof and ID proofs are successfully uploaded with
them. The 14 digit number is communicated automatically to the
customer through SMS and e mail by CERSAI.
The purpose of allotting 14 digit unique number is, if customer of one
Bank approaches another Bank for opening of account, that Bank should
not insist Officially Valid Documents for opening of account. The same
can be down loaded from CERSAI web site. Banks needs to obtain only
KYC form and Account opening form from the individual who wish to
open the account. Address/ID proof need not be insisted.
How to down load Address/ID proof from CERSAI website:

If any customer of other Banks approaches our branches for opening of

account with Unique 14 digit number allotted by CKYCR, branch has to
send the 14 digit number to KYC Cell, CO through mail. KYC Cell will
down load the Address Proof, ID proof and Photo from the CERSAI
website and forward the same to the concerned branch. Branch can
open the account by taking print out from KYC Cell mail and obtaining
KYC form and Account opening form.

The procedure is same for our customers who are having 14 digit
CKYCR number, and wish to open account with any other Banks.

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25. HOW TO DO CKYCR SCANNING AND UPLOADING.
After completion of Account opening process, branches have
to visit the branch product and click on CKYCR application (URL:
http://172.16.8.21/CKYCR/ckycrregister.htm). The process is
of maker Checker. The steps to be followed is
FOR MAKER:

 Go to Branch product and click CKYCR application.

 Click Run
 In the pop up screen, enter the CHRIS credentials to
log in.
 In the next screen, click "File" which is available in
left top corner.
 Select Scan Documents.
 Enter the CIF ID in the relevant box.
 Enter the 15 digit number in the relevant box.
 Click validation button.
 System will pop up the title of the account, for the
maker to ensure correctness.
 Select the photograph and scan, Use crop button to
edit the photo, Proof of Address and Proof of
 Identity, Saving the scanned documents, using Using
Save Crop button is mandatory.
 Select the document name (OVD).
 The documents should be the same ad entered in
Finacle.

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  Scan all documents one by one by selecting from
drop box.
 Click save button.
FOR CHECKER:

 Checker has to log in the same way as above.

 Checker has to select "verify scanned document"
from File.
 CIF ID to be entered.
 System will fetch all the scanned documents along
with the customer particulars from FINACLE. In case
any error displayed during verification, user has
 to correct it in FINACLE and proceed for verification
again.
 Checker is required to visit all the scanned
documents.
 Checker has to verify all particulars and click
versification button.
 Checker has to verify all the scanned documents on
the same day before proceeding for EOD.

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26. DELETION OF WRONG SCANNING IN CKYC APPLICATION

If maker has done any mistake while selecting the documents

for scanning and completed the process for verification, the
error pop up message will be shown only during verification
time. There are two types of deletion available for the maker.
1. Entire record can be deleted by clicking DELETE SCAN
button.

2. Particular OVD can be deleted by clicking DELETE SCAN

IMAGE button.

In both the cases, branch has to Re scan the correct

OVD and upload.

The above guideline is only when wrong scanning has

happened and branches are advised to take utmost care while
scanning by selecting proper OVD.

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27. CKYC REPORTS

The following reports are available in the report server.

1. CKYC Completed – 14 digit Unique Number allotted by

CKYC Registry pertaining to individual CIF is made
available
2. CKYC Rejected by CERSAI – List of CIF IDs rejected by
CERSAI with remarks for individual CIF is made available.
Branches to modify the errors mentioned in the remarks
column through MRCR Menu (No scanning required)
3. CKYC Not verified – List of CKYC scanned by the maker
pending for verification.

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28. TIPS TO OPEN ACCOUNT

1. At the time of account opening, obtain proper KYC form

from the individual who wish to open the account with us.
2. Obtain Self attested Xerox copies of Officially Valid
Documents for Address/ID proof
3. Verify the KYC form whether all columns are filled up.
4. If account is opened for Partnership, Trust, Club, Society,
HUF and Limited Companies (which are not listed), obtain
the details of Beneficial Owners and their share
percentage.
5. Verify the Xerox copies of Officially Valid Documents with
Original.
6. Supervisory Official should sign the Xerox copies with
certificate “Verified with Original”
7. Affix Branch Rubber stamp in Xerox copies of Officially
Valid Documents
8. Assess the Risk classification as per Annual Income/Turn
Over and as per customer Profile
9. System will automatically select the STTL value once the
Risk classification is selected
10. After through verification of KYC form, authorize the
form by signing in the appropriate column.
11. While opening Customer ID, first verify the Customer
name with banned list which is available in ON Line.
Can be proceed only if name is not appearing in the
List.
12. Visit all Tabs to fill up all Mandatory fields
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13. Do not give any junk value in the fields
14. While approving IDs, verify whether ID is created in
Proper menu

15. Verify all fields are filled up as per KYC forms

16. Verify whether ID/Address proofs are entered in the
relevant fields
17. Verify all other particulars of Customer is properly
entered
18. After opening Customer ID, note the Customer ID in
KYC form/Account opening form.
19. Then proceed to open account whether SB or CD.
20. After opening of account scan the relevant
documents and upload the same to CO for CKYC
purpose through standalone package.
21. After opening the account, send Thanks letter to the
Customer for opening the account
22. If Current account is opened for Partnership, Club,
Society, HUF and Limited Companies, enter the
name of the Beneficial Owners and their share
percentage through HDBO menu.
23. Review the Customer ID once in 6 months for High
and Exceptionally High Risk category
24. Review the Customer ID once in a year for Low and
Medium customers.
25. Updation of KYC data should be done for Low,
Medium, High and Ex Risk categories in every 10, 8,
and 2 years respectively.

II line Manager of the branch has to give weekly KYC

compliance certificate to First line Manager of the Branch.
First Line Manager of the Branch should send monthly KYC
compliance certificate to respective Regional Office

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29. CHECK LIST FOR KYC

Sl Subject Yes No
NO
1 KYC form is obtained along with Account Opening form
2 All the columns of KYC form is duly filled up
3 KYC form duly signed by the Customer
4 ID/Address proof obtained
5 Photo of the customer is affixed in the KYC form
6 ID/Address proof is self attested by the Customer
7 ID/Address proof is authenticated by the Supervisor
with wordings “Verified with original” with signature and
branch rubber stamp
8 Risk categorisation is marked in the KYC form
9 KYC form is authorised by the Supervisor
10 KYC particulars are properly entered in the system (to
be verified through MRCR/MCEC menu)
11 Details of Beneficial Owners for Accounts of
Partnership, Trust, Society, Club and Limited
Companies obtained and entered in the system through
HDBO menu
12 Proper Account Opening form is obtained
13 Account opening form is signed by the Customer
14 In account opening form, all columns are properly filled
up
15 Account opening form is duly authorised by the first
Line Manager
16 CKYC uploaded for this Customer ID
nd
17 KYC Compliance certificate is submitted by the 2
Line officer
18 Monthly KYC Compliance Certificate is submitted by
First Line Manager to RO

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19 CKYC Scanning Started
20 Second Line Certificate issued periodically and file
maintained

Disclaimer

The information contained in this book is for the reference and

guidance of staff members of our Bank. While every effort has
been made to provide the basic and latest information as on
01.06.2019, based on RBI guidelines and our internal
circular(s)/Master Circular on the subject for further
information. The contents are subject to change from time to
time.

Page 38 of 38
In case of any dispute/mistake/difference between this booklet
and RBI/Bank Circulars, the later will prevail.

Page 39 of 39