Government Eased Norms of Aadhaar KYC For Opening of Bank Account

People usually use the Aadhaar card as one of the KYC (Know Your Customer) documents to open a new bank account because it can be used both as address and photo proof. There are many cases where people may have their address in Aadhaar and want to give a more functional address for KYC. It will help migrant workers who have the address of their native place in Aadhaar but want a bank account with their current address where they are living for work,’ the finance ministry said in a statement.