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RBI permits self-certification to open accounts
short by Sumedha Sehra / on Tuesday, 30 September, 2014
Providing a relaxation in the 'Know Your Customer' (KYC) norms, the Reserve Bank of India (RBI), Tuesday, allowed self-certification of documents needed for opening bank accounts. Banks have also been asked not to seek fresh documents if an existing KYC compliant customer of a bank desires to open another account in the bank. It also permitted the non-completion of KYC.
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