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LATEST NEWS UPDATES | UID valid residence proof for opening bank acount: Nandan Nilekani

UID valid residence proof for opening bank acount: Nandan Nilekani

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published Published on Sep 30, 2011   modified Modified on Sep 30, 2011

-The Times of India

 

Unique identification authority said the Aadhaar cards issued by it are a valid residence proof for opening a bank account. "Aadhaar is a valid 'Know Your Customer' (KYC) document for opening a bank account," Unique Identification Development Authority of India (UIDAI) chairman Nandan Nilekani said.

"Aadhaar letter has two parts - identity and address. If the address which a person shows to the bank, is the same address as on the (Aadhaar) letter, then it is also a proof of residence." This comes at a time media reported that as per RBI notification Aadhaar is not a valid residence proof. However, the central bank reportedly accepted its validity as identity of a person.

Nilekani said, "In a few days, we will be starting online authentication of address and identity. If the address matches through online authentication, then it will be treated as current address".

The Times of India, 30 September, 2011, http://timesofindia.indiatimes.com/india/UID-valid-residence-proof-for-opening-bank-acount-Nandan-Nilekani/articleshow/10178068.cms


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