PMJDY – What is KYC norms for opening of saving account ?

PMJDY –  Documents which are required for opening PMJDY  Pradhan Mantri Jan-Dhan Yojana accounts for the purpose of  KYC norms are very simplified.

Documentary requirement for KYC compliance in accounts opened under PMJDY is same as per extant
guidelines of RBI/ Bank for saving accounts opened under Financial Inclusion.

RBI has clarified the simplified KYC measures in its press release dated 26.08.2014. according to RBI Single document is enough for proof of identity and proof of address if the Officially Valid Document (OVD) has both identity and address details.


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