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Tag Archives: Know your customer guidelines for proprietorship concerns

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What is relaxed KYC norm for proprietary concerns?

Current AccountBy Surendra NaikMarch 13, 2015

In case of opening accounts of proprietorship concerns, apart from customer identification procedure as applicable to the proprietor, banks and financial institutions call for and verify the activity proof of the concern. The default rule under KYC is that any two documents, out of following documents listed in paragraph 2.5(h) of RBI Master Circular should…

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