KYC Form For Allahabad Bank /Indian Bank: KYC stands for “Know Your Customer”. KYC form is used by banks to obtain all the information and details about their customer’s identity and current address.
This protects the bank’s services from being misused illegally by any person. It is mandatory for banks to follow the KYC procedure while opening a bank account. Also, bank has to update KYC of customers from time to time as per govt. guidelines.
The main objective of KYC is to protect bank and finance companies and ensure them that they are dealing in the legal business and with legal entities and also protect individuals (customers) from financial crimes.
Here we provide you a direct link to download KYC Form For Allahabad/ Indian Bank PDF Download. You can download the form by just clicking on the link given below.
KYC Form For Allahabad Bank/Indian Bank PDF Download
- Article Name: Indian Bank KYC Form / Allahabad Bank kyc form pdf download
- Beneficiary: Both Banks or financial entity and their customers
- Department: Bank & Finance
- Language: English
- Official Website: https://www.allahabadbank.in/
- PDF Form Download: KYC Form For Allahabad Bank/Indian Bank
Documents Required Against KYC Form For Allahabad Bank:
The following documents are to provide along with duly filled KYC form by the customer:
- Voter’s Identity Card.
- Driving Licence.
- Aadhaar Card
- NREGA Card (National Rural Employment Guarantee Act 2005)
- PAN Card.
- Recent Passport size photos
In the case of Minor:
- If age is less than 10 years, ID proof of the person who will operate the minor’s account will be required.
- If a minor can operate his/her account, then the KYC procedure for verification of identity and address will be the same as any other individual.
Advantages of KYC Form:
- Prevents spam and malicious activities.
- Prevents criminal acts such as money laundering.
- Safeguards Assets of Investors.
- Helps to avoid any legal, tax, and reputable issues.
- Creates reliability/integrity with banks.
∗As per Govt. Gazette of India Notifications G.S.R. 153(E), G.S.R. 154(E), G.S.R. 155(E), and G.S.R. 156(E) dated March 4th, Allahabad Bank has been merged with Indian Bank, Effective from April 1st, .
Note: KYC refers to the process by which authentication of customer’s identity is checked by bank before starting business with them or opening their account. It is mandatory for banks and any other financial entity to follow the procedure of KYC before dealing with the customers to avoid any legal issues. It also helps customers to get access of bank’s different services and premium products and makes transaction fast.
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