National Population Register letter is now declared as an officially valid document (OVD) for Know Your Customer (KYC) verification as certified by the RBI. It can be used as a valid document for opening bank accounts or applying for credit cards. The Reserve Bank of India has also allowed a video-based customer identification process for verification.
The official statement of the RBI stated that “Officially Valid Document” (OVD) means the passport, the driving licence, proof of possession of Aadhaar number, the Voter’s Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government and letter issued by the National Population Register containing details of name and address”.
Several banks have already included the National Population Register letter as one of the documents required for the KYC requirement.
KYC Documents That are Valid for Banking
- Aadhaar Card
- Driving License
- Voter’s Identity Card
- NREGA’s job card or NPR’s letter
- Passport
Central Bank of India had asked its account holders to submit a National Population Register document as a proof for the KYC procedure.
The bank had also later clarified that other documents can be used for the KYC procedure and National Population Register is not compulsory.
The bank’s clarification came after an advertisement in Telugu newspaper by the bank seeking National Population Register details for the KYC procedure created uncertainty among its customers.
The National Population Register letter has been included as one of OVDs for KYC two years ago after the government notified the Prevention of Money Laundering Act.
The National Population Register is a collection of “usual residents of the country” who have been residing in a local area for at least the last six months or possess an intention to stay in a particular location for the next six months.
