What is full form of KYC?

What is full form of KYC?

 

 

KYC – Know Your Customer

 

Know Your Customer is a process that is used by a bank to identify the detail for customer. This term is used for customer identification. In this regard, RBI has launched the guideline.

The main purpose of KYC is to prevent banks to be used by criminal for money laundering and reducing the illegal activities of criminal regarding bank. After knowing KFC full form, now we are going to discuss about detail information about kyc.

 

 

app 500 1000 ke note badalne (retun) karne ke liye, app bank me niche diye gaye document ko dikhakar cash exchange kar sake hai. ye kyc document sabi banks me manye hai. app niche diye gaye cash baldne ke form ka use karke pane banks se 500 orh 1000 ke notes ko badwal sakte hai. form niche diya gaya hai.

 

 

you can withdraw or exchange 1000 and 500 rupees notes into bank by using folloing documents under kyc.

-you can use the below cash exhanging for changing 500 and 100 rupees note.

 

  1. Pan Number- pan number full form is permanent acount number. it is 10 digit number that is issued by Income Tax Department.

 

  1. passport

 

  1. voter id card.

 

 

  1. Driving Licence.

 

  1. Ration card.

 

 

500 and 1000 rupees note exchange form for all banks-kyc full form

you can use the below form for exchanging the 500 and 1000 rupees note. you have to carry above kyc documents with you.

 

 

 

 

 

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after know kyc full form, it is time to get some information about what is kyc documents, what is inculded in kyc form etc.

know your customer

 

 

 

 

 

 

Detail that is included in KYC is as follows:

Customer Name: here, customer have to give his or her full name.

Customer Address : it is about full address of customer . if customer have two home . in that case , he have to give both address information here separately.

Date of birth: here, customer have to give information about his date of birth.  he can show his 10th class certificate to ensure the correct date of birth.

Father’s Name : here, father name of customer is required.

Mother‘s Name: here, mother name of customer is required.

Marital Status:  here, he have to show his marital status like single  or married or other etc.

Contact Number: here, contact number of customer is required. it should be updated mobile number . because it is verified later.

Pan Card Number : pan card is permanent account number of customer that is issued by government to him.

 

 

 

 

Components of KYC :

 

There are two components of KYC which are (1) identity verification and (2) address identification. For fulfilling identity verification, the bank requires legal documents that have been attached by photo like Driving License or Passport or Pan Card or Voter’s Card etc. For verifying the present address of customer, bank can ask for Telephone Bill or Electricity Bill etc.

 

 

 

 

Requirement of KYC under Prevention of Money Laundering Act, 2002 :

It is mandatory to get KYC detail of client before doing any kind of business like banking, selling mutual fund etc. under prevention of money laundering act, 2002. SEBI notified KYC Form and supporting documents that are used by all SEBI registered company. If bank is not doing according to this act, then there is heavy penalty under sec 35 A of Banking Regulation Act 1949.

 

 

 

Other KYC Full form:

♦Kent Youth Choirs

♦ Know your Client

 

if you like this article about kyc full form document for bank, then share this with your frineds on social netwoking like facebook, twitter and google plus etc.

 

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