Utility bills such as bills for postpaid mobile service, piped gas and water supply are vaild as proof of address for opening account with banks or other financial institutions, the Reserve Bank said.
“Utility bill which is not more than two months old of any service provider (electricity, telephone, postpaid mobile phone, piped gas, water bill)” for the limited purpose of proof of address are deemed to be Officially Valid Documents (OVDs) under ‘simplified measures’, RBI said in a notification.
The Prevention of Money Laundering (Maintenance of Records) Rules, 2005 has been amended to provide additional relaxations for the purpose of proof of address.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
