When you open a bank account, the bank asks you to get KYC done. But what is KYC? Let us tell you that it is necessary to have KYC for opening an account in a bank, in opening a mutual fund, in buying bank lockers, online mutual funds, and for investing in gold. If you do not know about it, then today we are going to give you information in easy language. So that you can understand it quickly and well, for your information, tell us that the full form of KYC know your customer, which means in Hindi that the identity of your customer is identified by the bank or any company, then the process of identification. The bank asks for some documents from you. This document for you is called KYC document.
We all know that this document bank believes in us, so when we open a new bank account, open a mutual fund account, buy bank lockers or online mutual funds. So the company or bank asks us for all our identified KYC documents, apart from all these, when we take the SIM card, we verify our Aadhaar card for our identity. This process is also called KYC. Then you must have known what this KYC is. Now let us know which of your documents come in these KYC documents.
The KYC document contains your ID proof, address proof and a photo of your recent passport size. You can put any valid ID such as Aadhaar card, Voter ID, driver’s license, passport PAN card in your identity and address proof. However, PAN card is only identity proof. It does not contain your address. But in the rest of the document, you can also verify your address. All these documents are called KYC documents.