RETAIL ASSET, EEG & CREDIT CARD DEPARTMENT

KNOW YOUR CUSTOMER (KYC) OPERATIONAL GUIDELINES

Sr.No. Content Page No

I. Objective 1

II. Customer Identification

1. LOAN ACCOUNT OF INDIVIDUALS 2

2. LOAN ACCOUNT OF NON INDIVIDUAL ENTITIES 7

III. Customer Verification 15

IV. Risk Management 16

V. Customer Education 16

VI. Maintenance and Preservation of Records 16

VII. Monitoring of Transactions and Risk Categorization 16

VIII. Suspicious Transaction Reports (STR) 16

IX. Employee Training 20

X. Annexure 21

I. OBJECTIVE

The objective of Know Your Customer (KYC) guidelines is to prevent the bank from being

used, intentionally or unintentionally, by criminal elements for money laundering or terrorist

financing activities. KYC procedure also enables banks to know/ understand their customer

and their financial dealings better which in turn help them manage their risk prudently. The

policy would be common to all the Retail Asset, EEG & Credit card products.

Customers are divided into following categories for the purpose of KYC requirement:

1. Individual:

a. Resident Individual

b. Account of Non Resident Indian, PIO and OCI

2. Non-Individuals / Entities

a. Proprietary Firm

b. Partnership Firm

c. Limited and Private Limited Company

d. HUF (Hindu Undivided Family)

e. Limited Liability Partnership( LLP )

Please note that the KYC module is a general requirement of KYC documents and any credit

document over and above the KYC document, may be specified by the policy team in their

respective policy notes.

The entire KYC process broadly comprises of four main parts:

Customer Identification Process

Customer Verification / Acceptance Process Risk Management Monitoring of Transactions

KYC POLICY Page 1

II. CUSTOMER IDENTIFICATION

1. LOAN ACCOUNT OF INDIVIDUALS

a. Resident Individual

For account of individuals, a proof of photo identification and proof of address is to be enclosed

with Application Form. The application form should be signed by the individual and latest

passport size photograph should be affixed.

Name of the applicant on the KYC document should match the name mentioned on the

application form. Photograph of the applicant as seen on the KYC document to be of the same

person whose photograph is affixed on the application form. Applicant to sign such that part

signature is on photograph and part on application form.

Address of the applicant on the KYC document should match the current residence address

mentioned on the application form.

A comprehensive list of documents qualifying as KYC proof (Identity /Address proof) is

mentioned below (Any one document to be obtained)

Passport (valid as on date)

Permanent Driving License, which is valid with the photograph affixed thereon

Permanent Account Number (PAN) card Only Identity Proof

Voters Identity Card (Election card)

Job Card issued by NREGA duly signed by an officer of the State Government

Letter / Card issued by the Unique Identification Authority of India (UIDAI) containing details of name, photograph, address and Aadhaar number. Accordingly, either the

physical Aadhaar card/ letter issued by UIDAI received through post or the Aadhaar

number validated thorough the e-KYC process is acceptable as an officially valid KYC

document for onboarding the customer and for re-KYC purpose.

KYC POLICY Page 2

In case the proof of address furnished by the customer is not for the current mailing address

declared in the Account opening form (AOF), the ASC is required to obtain a declaration from

the customer of the mailing address (Refer Annexure I). If proof is submitted for the mailing

address and not for permanent address, the declaration need not be obtained from the

customer in respect of permanent address. It should, however, be ensured that both the address

are captured in the AOF. In case the declaration is obtained for mailing address, positive

confirmation, through tele-verification or Field investigation, need to be held on record.

The processes defined for validation of Aadhaar to be ensured, if the Aadhaar number is

accepted for KYC (Circular reference Compliance /9/2013-14 dated October 24, 2013 and

Compliance /18/2013-14 dated March 25, 2014)

b. Signature Verification Documents

Signature verification document is to be submitted with all applications. If signature is present on

the KYC documents, the same is acceptable. Any one of the documents mentioned below can

also be accepted as valid signature verification proof -

Processing Fee Cheque

Bankers Verification - Letter from the existing banker. Letter to be in original on the

Banks letterhead bearing the authorizing officers name and signature along with the

stamp of the bank. Signature verification letter issued by the customers Bank in the

prescribed format (Refer Annexure II) can also be accepted, provided the specimen

signature number of the certifying authority and stamp of the Bank is affixed on such

letter.

For Axis Bank customers, screen shot of the customer's signature as recorded in Finacle

can be accepted as a signature proof. The employee number and name of the official

verifying the signature from the system to be affixed on the printout of the same.

Applicants signature on the loan documents to match with the signature on any one

KYC document.

For all non-Financial Co-applicants to the loan where signature proof is not available, a

duly notarized affidavit in prescribed format (Refer Annexure III) can be accepted

provided the identity proof and address proof is taken for such non-financial co-

applicant.

KYC POLICY Page 3

c. Mismatch in Signature

In case of a minor difference in the signature consistency / flow in loan agreement with

the document(s) provided for customer identification, the Bank official would have to

obtain the signature mismatch declaration as mention in (Refer Annexure IV).

In case of major changes, like a complete change in the signature of the customer from

the signature appearing on the document for identification, a signature affidavit duly

stamped and notarized has to be obtained.

d. Accounts of Illiterate Persons

A person is said to be illiterate when he is unable to read and write. Given the

operational difficulties and risks involved, the accounts of illiterate persons should be

opened selectively and operated by exercising due caution. Such accounts should be

opened as joint accounts of illiterate person with his/her close blood relative.

Subject to above, for opening the account of illiterate person, thumb impression of the

illiterate person should be obtained on the account opening forms in presence of a Bank

official along with two passport size photographs. The thumb impression should be

followed by a rubber stamp as follows and the name of the person.

Left/right hand thumb impression of Mr. /Mrs./Ms. ___________

The convention of obtaining Left Hand Thumb impression of a male and Right Hand

Thumb impression of a female may be followed.

Accounts of persons signing in vernacular languages should be dealt with similar restraint

and caution.

A Declaration for having explained the contents of the document shall be obtained in

the prescribed format (Refer Annexure V).

KYC POLICY Page 4

e. Difference in Name

Name of the applicant as mentioned on the loan application form and the name as on KYC

documents submitted is not exactly the same. A notarized affidavit has to be obtained from the

applicant.

f. Co-applicants

In case of more than one applicant, the KYC documents (as mentioned under Point 1a) are

required for all the applicants. However, in case of husband and wife, address proof of any of

the spouse can be obtained. Similarly, in case of parents, siblings, son, daughter, in-laws address

proof of only one applicant may be obtained if a valid proof is obtained of such relationship. This

valid proof can either be a birth certificate, passport, PAN Card, Certificate from a State/

Central Education Board or from a recognized University, ration card, registered marriage

certificate, a duly notarized affidavit or the six KYC documents (if it contains name of relative

and relationship). A declaration is to be obtained (from the applicant whose address proof is

available) stating that applicant (whose address proof is not provided) is a relative and is staying

with him/her. Positive confirmation (tele-verification/FI) need to be done on address provided.

g. Married Woman with Maiden Name

In addition to the documents taken for proof of identity and address, following should be

ensured:

a) For change in surname after marriage, a copy of registered marriage certificate should

be obtained. In cases where such a certificate cannot be produced, a duly notarized

affidavit can be accepted.

b) For change of name after marriage, we may obtain a copy of the registered marriage

certificate along with a duly notarized affidavit and a copy of the related press

notification published. In some states, it is also the practice to publish such notifications in

the Official Gazette. In these cases, the copy of the Gazette should be produced.

h. Existing Customer

For existing relationship with customer is less than 2 years old / Re-KYC done in last 2 years,

fresh KYC documents are not required, if the Branch Head / Branch Operations Head of the

Branch having original account confirm through mail (in the specified format) that the main

account with them is KYC complaint. Format of KYC Compliance Certificate (Refer Annexure

VI) to be followed OR the Bank officer (mentioning his name, employee number and KYC POLICY Page 5

designation) checks the KYC compliance status in banks records and document that the

customer is KYC compliant. The communication address mentioned in the banks record to

match with the current mailing address, mentioned in the application form.

For existing relationship more than 2 years to 10 years, fresh KYC documents are not required

if:

If the customer is categorized as low risk as per internal guidelines and

The Branch Head / Branch Operations Head of the Branch having original account need

to confirm through mail (in the specified format) that the main account with them is KYC

complaint. Format of KYC Compliance Certificate as mentioned in (Refer Annexure VI) to

be followed OR the Bank officer (mentioning his name, employee number and

designation) checks the KYC compliance status in system and document that the

customer is KYC compliant. The communication address mentioned in the banks record

to match with the current mailing address, mentioned in the application form.

Fresh address proof document is required, in case the address mentioned on the Application

form is different from the address appearing in the Banks records.

i. Low Risk Category

RBI has also advised that in respect of low risk category of customers, banks may accept

any one of the following documents for verifying the identity and address of the individual.

Based on the occupation declared by an individual that is mandated for the risk

categorization of an account at Bank level. A list of such customers classified as low risk is

given in Annexure VII. For this purpose, it needs to be ensured that the correct occupation

code of an individual is captured in the Account Opening Form. The documents listed for

low risk category would not be applicable to the customers, who have availed the

schemes of Priority and above as these are covered under HNI customers.

Identity Card with applicants photograph issued by Central / State Government Departments, Statutory / Regulatory Authorities, Public Sector Undertakings, Scheduled

Commercial Banks, and Public Financial Institutions.

Letter issued by a Gazetted Officer containing the name, photograph and address of the individual. The photograph has to be duly attested by the Gazetted Officer. An

indicative list of Gazetted Officers is given in Annexure VIII. ASC / CPC official needs to KYC POLICY Page 6

certify that the signing authority is a Gazetted Officer, empowered to issue such a

certificate.

j. General Covenants: Resident Individual

1. Every KYC document has to be self-attested by the applicant.

2. Every KYC document submitted has to be verified with its original and a stamp Original

Seen and Verified is to be affixed and signed by the verifying official.

3. Every Application Form has to be affixed with the latest passport size photograph of the

prospective customer.

4. Care needs to be exercised by the official to compare the signature on the Application

Form with the signature (if available) appearing on the document submitted.

5. PAN / Form 60 / 61 has to be provided for all applicants. PAN has to be verified from the

Income Tax site and documented on the copy of the PAN mentioning the name of bank

officer, employee number and signature.

1. b. Non Resident Indian / Person of Indian Origin/Overseas Citizen of India

As per the extant KYC policy of the Bank, to the extent applicable to Retail Assets, EEG & Credit Cards business. (Refer Annexure IX)

2. LOAN ACCOUNT OF NON INDIVIDUAL ENTITIES

The KYC documentation for non-individual entities will depend upon their constitution as a legal

entity and their registration. KYC compliance has to be done for the entity which is the borrower

and for the individuals who are authorized to apply / operate the loan account. Documents for

establishing photo identity and address proof of all the partners should be obtained.

Name of the company and Principal place of business as mentioned on the KYC document to

match with the details on the application form.

Mailing address of the company as mentioned on the KYC document to match with the details

on the application form.

The KYC of the individual has to be as per stipulation given in the Para 1.a. of Resident Individual.

KYC POLICY Page 7

A) Proof of Identity & Address for limited / private limited companies

Table A Table B Proof of identity

Proof of address

(Any one of the following) By Company: 1. Copy of Memorandum

2. Articles of Association

3. Certification of

Incorporation

By Executing Authorized

signatory / Director: Refer

Additional Documents below

1. Passport which is not

expired

2. Voters Card

3. Driving License with

Photograph which is not

expired

4. PAN card. 5. Letter / Card issued by the

Unique Identification Authority of India (UIDAI) containing details of name, photograph, address and Aadhaar number. Accordingly, either the physical Aadhaar card/ letter issued by UIDAI received through post or the Aadhaar number validated thorough the e-KYC process is acceptable as an officially valid KYC document for onboarding the customer and for re-KYC purpose

1. Telephone Bill. The bill date should not be older than 3

months from the application date.

2. Electricity Bill/ Utility Bill. The bill date should not be older

than 3 months from the application date.

3. Shop & Establishment Act Certificate

4. SSI /MSME Registration Certificate

5. Sales Tax /VAT Registration Certificate

6. Current Account Bank Statement including Pass Book.

The latest copy of the statement / passbook should

have transactions which are not more than 3 months

old from the date of application and should contain

minimum 3 customer induced transactions.

7. Registered lease agreement / Rent agreement only for

ltd/ pvt ltd companies

8. Latest available Income Tax / wealth tax assessment

order (only for Ltd / Pvt companies)

9. Copy of TAN / TIN allotment in the name of company

(only for Ltd / Pvt companies)

10. Address mentioned in Certificate of Incorporation to be

accepted as address proof

11. PAN intimation letter issued by IT authority. It must bear

name, and address of the entity. This should be

accompanied by either (a) print out from the website

confirming the PAN number- Print out to be duly signed

by account opening authority or (b) Copy of the PAN

card in the name of entity

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Additional Documents for Ltd / Pvt Ltd Company

Certificate of Commencement of Business (for Limited Companies) PAN

Certified true copy of Board Resolution duly signed by Company Secretary /any director subject to following: a) If 2 (two) or more directors are signatories to the account - the BR can be signed by

Company Secretary or any two directors; b) If only 1 (one) director is an authorized signatory and he has signed the BR singly The

same shall not be permitted. The BR needs to be certified by one more director of the Company;

c) If only one director is an authorized signatory - the BR can be certified singly by any another director who is not a signatory;

d) If none of the directors / Company Secretary are signatories to the account - the BR can be certified singly by one director / Company Secretary;

e) The requirement of ID proof shall also apply to the Director / Company Secretary who is signing and certifying the BR.

Latest list of all the Directors along with DIN, with their addresses, duly dated and signed by the Company Secretary / director(s)/ extract from the MCA site. (In case the signatory

is a newly appointed director, form 32 should be taken.)

Latest Shareholding Pattern duly signed by Company Secretary / Director(s).

B) Proof of existence for proprietorship (Any one of the following documents)

Valid Sales Tax Registration Certificate Valid Shops & Establishment Certificate Valid Factory Registration Certificate SSI /MSME Certificate

CST /VAT Certificate

Documents for establishing photo identity and address proof of proprietor, as applicable for an individual above have to be taken.

Proof of Address for proprietorship as per Table B above.

C) Proof of existence for partnership firm (Any one of the following documents)

Duly stamped Partnership Deed Signed by all partners and PAN card /Form 60 (to be

taken for all cases)

Shops and Establishment Certificate issued by the civic authority. IT Return in the name of the partnership firm. The IT Return should be acknowledged /

authenticated by the Income Tax Department.

Professional Tax certificate. KYC POLICY Page 9

Sales Tax Registration Certificate issued by Sales Tax Department Intimation of Sales Tax Registration Trade License issued by Local Authority in the name of the partnership firm

Certificate of enlistment / license / shop allotment letter issued by Municipal Corporation. Tax receipts for property tax paid to the Municipal Body / Corporations. The tax receipt

should stand in the name of the firm.

License issued by DGFT confirming address

Small Scale Industrial Certificate Trade License issued by Department of Industries and Commerce.

Drugs Selling license issued by Food & Drug Administration for Medical Dealers Full Fledge Money Changer (FFMC) License issued by RBI.

Copy of A-1 Form (Application Form for VAT Registration) submitted and acknowledged by issuing authority along with the copy of VAT Certificate issued. The copy of A1 form will

help in fetching all the necessary details of the partnership firm that are not incorporated

in the VAT Certificate including the name of partners.

Copy of VAT / TIN allotment certificates (as proof of existence of the Firm) Firms Service Tax registration. Registration for Fire Goods issued by Municipal Corporations.

Certificate of existence issued by village Administrative Officer / Panchayat Head / Mukhiya / Village Developmental officer / Block development officer or Equal Rank

officer for customers in rural / village areas. ASC to ascertain and ensure that the official

who has signed the certificate has been empowered to do so.

Certificate issued by Trade/Industrial Associations. The Zonal BB Head would have to approve the association for its acceptance as a valid association good for certifying the

address/proof of identity of the firm.

Certificate issued by District Industries Centre.

Shops and establishment act certificate issued in vernacular language by local authority verified by Branch / ASC Head

Trade license from Labour Department. If generated online, the same would have to be certified by the Municipal Authority.

Any communication/letter issued by a local / State / central govt. authority regarding a tax acknowledgement / land premises allotment clearly mentioning the name of firm

Certificate Issued by respective government authority for units in SEZ (Special Economic Zone), STP (Software Technology park), EOU (Export Oriented Unit), EHTP (Electronic

KYC POLICY Page 10

Hardware Technology Park), DTA (Domestic Tariff Area) and EPZ (Export Processing Zone)

in the name of the entity mentioning the address allotted

Certificate of registration / a letter granting Certificate of Practice issued by professional

bodies such as ICAI (Institute of Chartered Accountants of India) in the name of the

chartered accountant firm. The CPC official to ascertain and verify the fact of the CA

membership online with the Institute of Chartered Accountants of India (ICAI) site).

Accounts can be opened only by those members of the Institute holding full time

Certificate of Practice. A printout of the verification may be attached with the CA

Certificate to form a part of the Account Opening Form.

Partnership registration certificate if the firm is registered. Registration certificate of recognized Provident Fund with PF commissioner

IRDA (Insurance Regulatory and Development Authority) license in the name of the entity with address mentioned.

Proof of Address for partnership firm as per Table B above.

D) Proof of Identity for Hindu Undivided Family (HUF) (All of the following documents is to be

obtained)

Copy of the PAN Card / PAN Intimation letter / Form No. 60 in the name of the HUF HUF letter with the name and signature of all adult male & female co-parceners /

Declaration from the Karta.

Identity and address proof of Karta to be obtained as per documentation for individual.

E) Limited Liability Partnership( LLP )

Table A Table B Proof of identity

(ALL the below documents) Proof of address

(Any one of the following)

1. Limited Liability Partnership Agreement/ Deed

2. Certificate of Incorporation 3. PAN Card

1. Telephone Bill. The bill date should not be older than 3

months from the application date.

2. Utility Bill. The bill date should not be older than 3

months from the application date.

3. Shop & Establishment Act Certificate

4. SSI/ MSME Registered Certificate

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5. Sales Tax /VAT Registration Certificate

6. Current Account Bank Statement including Pass Book.

The latest copy of the statement / passbook should

have transactions which are not more than 3 months

old from the date of application and should contain

minimum 3 customer induced transactions.

7. PAN intimation letter issued by IT authority. It must bear

name, and address of the entity. This should be

accompanied by either (a) print out from the website

confirming the PAN number- Print out to be duly signed

by account opening authority or (b) Copy of the PAN

card in the name of entity.

Additional Documents for LLP

KYC identity and address Proof of the designated partners of LLP and authorized signatories, if different from the designated partners.

The list of all existing designated partners of the LLP along with the designated partner identification number (DPIN) issued by the Central Government on LLP

letterhead / extract from the MCA site.

Letter of authority in prescribed format passed at the meeting of the Designated

Partners for the applying and opening the account.

F) Identification of Beneficial Owner (BO) for Non Individuals

Rule 9 (1A) of the Prevention of Money Laundering Rules, 2005, requires that every banking

company and a financial institution, shall identify the beneficial owner (BO) and take all

reasonable steps to verify his identity. The Reserve Bank of India (RBI) has, in accordance

with the said Rule, issued detailed guidelines and has mandated the obtention of details of

beneficial owners for various types of non-individual customers.

As per section 12 of the Prevention of Money Laundering (Amendment) Act (PMLA), 2012,

Banks are required to identify the beneficial owner and also maintain a record of the

documents evidencing the identity of beneficial owners.

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RBI has now prescribed criteria for identifying the beneficial owner based on the customer constitution as detailed below:

Customer Constitution

Controlling Ownership Interest

Companies The beneficial owner is the natural person(s), who, whether acting alone or together, or through one or more juridical person, has a controlling ownership interest or who exercises control through other means. Explanation.- For the purpose of this sub clause- 1. "Controlling ownership interest" means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company; 2. "Control" shall include the right to appoint majority of the directors or to control the management or policy decisions including by virtue of their shareholding or management rights or shareholders agreements or voting agreements;

Partnership Firms The beneficial owner is the natural person(s), who, whether acting alone or together, or through one or more juridical person, has ownership of/entitlement to majority more than fifteen percent of capital or profits of the partnership;

Un-incorporated association or Body of Individuals

The beneficial owner is the natural person(s), who, whether acting alone or together, or through one or more juridical person, has ownership of or entitlement to more than fifteen percent of the property or capital or profits of such association or body of individuals;

Trusts The identification of beneficial owner(s) shall include identification of the author of the trust, the trustee, the beneficiaries with fifteen percent or more interest in the trust and any other natural person exercising ultimate effective control over the trust through a chain of control or ownership; The author of the Trust has to be identified if the same is mentioned in the Trust Deed.

(b) If there exists doubt on whether the individual or natural person with the controlling

ownership interest is the beneficial owner, the identity of the natural person exercising control

over the juridical person by way of voting rights, agreement, arrangements, etc. may be

considered.

(c) In case no natural person can be identified as stated in the above paragraphs, CPC

may identify the relevant natural person who holds the position of senior managing official. KYC POLICY Page 13

(d) If account is opened for Individual, HUF, Sole Proprietorship and Government Entity,

beneficial ownership will not be applicable.

e) Where the client or the owner of the controlling interest is a company listed on a stock

exchange, or is a subsidiary of such a company, it is not necessary to identify and verify the

identity of any shareholder or beneficial owner of such companies.

CPC are therefore required to identify and verify the identity of the beneficial owner in case

of non-individual customers at the on-boarding stage. For this, CPC should obtain a self-

declaration on beneficial ownership from the prospective non-individual customer in an

appropriate format, as given below, and also obtain identity and address proof documents

of the beneficial owner(s).

Sr. No. BO Declaration Type of Constitution 1 Annexure A

ANNEXURE-A.doc

Partnership, Limited Liability Partnership (LLP), AOP/Society, Trust/Club, University, Institution

2 Annexure B

ANNEXURE-B.doc

Pvt Ltd. Company, Public Ltd. Company, Foreign Ltd. Company/OCB

The following officials are authorized to sign the BO declaration:

Constitution Authorized Official Partnership Active Partner Limited Liability Partnership (LLP) Designated Partner Trust Trustee Association of Persons (AOP), Society and Club

Senior member

University and Institutions Member of the Managing Committee Company Official authorized to sign the Board

Resolution

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III. CUSTOMER VERIFICATION

In addition to the collection of the KYC documents, the customers identity and address to be

confirmed by way of Field Verifications, Telephonic Verifications and sample RCU checks

through third party agencies as prescribed.

Existence of an applicant at the given address to be confirmed by physically visiting the address.

During the physical visit, the person met and his/her relation with the applicant is to be captured.

Mandatory checks to include-

Correctness of address Third party confirmation from either neighbor or security guard of the society.

Tele-verification checks to confirm similar details.

RCU to do a sample check on the KYC documents submitted. This is to establish the authenticity

of the documents submitted. All such documents should mandatorily be stamped as RCU

screened / RCU sampled.

Dedupe check which is incorporated in FinnOne as a stage to be carried out for every

applicant so as to ensure that the identity of the customer does not match with any person with

known criminal background or with banned entities such as individual terrorist or terrorist

organizations. The FinnOne master data is regularly updated with RBI defaulter list, terrorist

organization list, etc.

FI checks, tele-verification checks and RCU checks are only for confirmation of the customers

contact details and cannot substitute KYC documents.

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IV. RISK MANAGEMENT

Concurrent / Internal Auditors should specifically check and verify the application of KYC

procedures at the ASC / CPC and comment on the lapses observed in this regard.

V. CUSTOMER EDUCATION

The KYC information is made available on the Bank Website to educate the customer of the

objective of KYC program.

VI. MAINTENANCE AND PRESERVATION OF RECORDS

For all Retail Asset, EEG & Cards products, the KYC documents along with the file to be retained

at the Bank for a minimum period of 5 years from the date of closure of the account/ date of

last transaction with the customer.

VII. MONITORING OF TRANSACTIONS AND RISK CATEGORIZATIONS

The collection team of the Retail Asset, EEG & Cards department follows up with the customers

which are overdue for the recovery of the amount. Further the department complies with

Income Recognition circular of RBI which requires every Bank to classify the portfolio into

standard assets, substandard assets, doubtful assets and loss asset which indicates the risk

associated with the underlying customer. The above procedures are adequate monitoring of

transactions and risk categorizations.

VIII. SUSPICIOUS TRANSACTIONS REPORTS (STR)

In terms of Prevention of Money Laundering Act (PMLA) Rules, the Bank has to submit

Suspicious Transaction Report in respect of accounts/transactions, as and when detected by the

Bank. Suspicious transaction" means a transaction including an attempted transaction, whether

or not made in cash, which to a person acting in good faith:-

(a) gives rise to a reasonable ground of suspicion that it may involve proceeds of an offence

specified in the Schedule to the Act, regardless of the value involved; or

(b) appears to be made in circumstances of unusual or unjustified complexity; or

(c)appears to have no economic rationale or bonafide purpose; or

(d) gives rise to a reasonable ground of suspicion that it may involve financing of the activities

relating to terrorism;.

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i. In case of suspicious transactions, discreet enquires should be made about customers

occupation/ business, confirm the communication address, reason for such conduct in the

account, etc and immediately report to Money Laundering Reporting Officer (MLRO) of the

Bank in case strong grounds of suspicion can be established. The necessary information as

requested by the FCM unit shall be provided by the ASC in the Questionnaire Format.

ii. It may also be noted that the background including all documents/office

records/memorandums pertaining to such transactions and purpose thereof should be

examined and the findings at branch/department level should be properly recorded and

preserved for ten years as is required under PMLA, 2002.

iii. In some cases, where the transaction in a particular account is found to be of unusual

nature that warrants further enquires, it has been observed that the customer has

abandoned/aborted the transactions on being asked to give some details or to provide

documents. All such attempted transactions should also be reported in STRs, even if not

completed by customers, irrespective of the amount of the transaction.

iv. In case, where there is reasonable ground to believe that the transaction involve

proceeds of crime, an STR should be filed by the Branch, irrespective of the amount of

transaction and/or the threshold limit.

v. The Branch shall not put any restrictions on the operations in the accounts where an STR

has been made. Further it should also be ensured that there is no tipping off to the customer at

any level. The Branch and its staff should keep the fact of furnishing suspicious transaction

information strictly confidential

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INDICATIVE GROUNDS OF SUSPICION REPORTED IN STR AS PER FIU-IND

No Suspicion Summary of detection and review

1 False Identity Identification documents were found to be forged during customer verification process. The account holder was not traceable

2 Wrong Address Welcome pack was received back as the person was not staying at the given address or address details given by the account holder were found to be false. The account holder was not traceable

3 Doubt over the real beneficiary of the account

The customer not aware of transactions in the account. Transaction were inconsistent with customer profile

4 Account of persons under investigation

The customer was reported in media for being under investigation.

5 Account of wanted criminal

Name of the account holder and additional criteria (Date of birth/ Fathers name/ Nationality) were same as a person on the watch list of UN, Interpol etc.

6 Account used for cyber crime

Complaints of cyber crime were received against a customer. No valid explanation for the transaction by account holder

7 Account used for lottery fraud

Complaints were received against a bank account used for received money from the victims. Deposits at multiple locations followed by immediate cash withdrawals using ATMs. No valid explanation provided by the account holder

8 Doubtful activity of a customer from high risk country

Cash deposited in a bank account at different cities on the same day. The account holder a citizen of a high risk country with known cases of drug trafficking

9 Doubtful investment in IPO

Large number of accounts involving common introducer or authorised signatory. Accounts used for multiple investments in IPOs of various companies

10 Unexplained transfers between multiple accounts

Large number of related accounts with substantial inter-account transactions without any economic rationale

11 Unexplained activity in Sudden spurt in activity of dormant account. The customer could

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dormant accounts not provide satisfactory explanation for the transactions

12 Unexplained activity in account inconsistent with the declared business

Transactions in account inconsistent with what would be expected from declared business. The customer could not provide satisfactory explanation

13 Unexplained large value transactions inconsistent with clients apparent financial standing

Large value transactions in an account which usually has small value transactions. No valid explanation provided by the account holder.

14 Doubtful source of payment for credit card purpose

Credit card topped up by substantial cash first and then used for incurring expenses. Cumulative payment during the year was beyond known sources of income.

15 Suspicious use of ATM Card

Frequent cash deposits in the account followed by ATM withdrawals at different locations. No valid explanation.

16 Doubtful use of safe deposit locker

Safe deposit locker operated frequently though the financial status of client

17 Doubtful source of cash deposited in bank account

Frequent cash transactions of value just under the reporting threshold. Cash transactions split across accounts to avoid reporting. No valid explanation provided.

18 Suspicious cash withdrawals from bank account

Large value cheques deposited followed by immediate cash withdrawals

19 Doubtful source of foreign inward transfers in bank account

Deposit of series of demand draft purchased from Exchange House abroad. Sudden deposits in dormant account immediately followed by withdrawals

20 Doubtful remitter of foreign remittances

Name and other details of the remitter matches with a person on watch list.

21 Doubtful beneficiary of foreign remittance

Name and other details of the remitter matches with a person on watch list.

22 Doubtful utilizations of foreign remittances

Foreign remittance being withdrawn in cash immediately. No valid explanation

23 Misappropriation of funds

Reports of misappropriation of funds. Substantial cash withdrawals in account of a charitable organizations.

KYC POLICY Page 19

IX. EMPLOYEE TRAINING

A training module comprising KYC guidelines is made available to the ASCs & CPCs. It is crucial

that all those concerned fully understand the rationale behind the KYC policy and implement

them consistently.

KYC POLICY Page 20

Annexure I (Specimen of Declaration to be obtained for proof of the mailing address)

Date: To The ASC Head

___________________ Branch

Axis Bank Limited

_____________________________________

_____________________________________

_____________________________________

Dear Sir/Madam,

My Mailing Address for loan account with Axis Bank

I declare and confirm that for opening loan account with your Branch at Axis Bank, my local address, which is to be recorded as my mailing address in the account is as follows: -

_______________________________________________________________________________________

_______________________________________________________________________________________

(Please mention the House No./Flat No./Road No./Street No./Floor No./Department and Landmark, as applicable)

City ___________________________ State ________________________(India), PIN Code _________

Contact Details Telephone Number (Office / Local / Residence) _________________________

Mobile No. _______________________________Email Address ____________________________

My permanent address is __________________________________________________________________ and towards proof of same, I am enclosing ______________ document

I authorize the Bank to send all correspondence, including all deliverables to me at the aforesaid mailing address.

I undertake to immediately inform the Bank in case there is any change in my registered correspondence address, but not later than 2 weeks of such change.

In case the address submitted by me as proof, undergoes a change, I note to submit the fresh proof of address to the Branch for updation of the records. I hereby agree and undertake to hold harmless and keep Axis Bank fully indemnified against claims and damages, which may be made in respect hereof by reason of Axis Bank relying and acting on this declaration.

Yours faithfully,

KYC POLICY Page 21

Annexure II SIGNATURE VERIFICATION

[FOR INDIVIDUAL BORROWER]

To

AXIS Bank Ltd

_____________________

_____________________

Dear Sir

Ref: Signature Verification of Mr. /Ms.______________________________________

This is to confirm that the signature, as set out below, of Mr./Ms.___________________________________________(s/o or w/o or / d/o___________________________________________________________) residing at ____________________________________________________________________________has

been verified as per our records. We also confirm that he/she has been operating and maintaining account (A/c. No._______________________________________) with our bank (________________________________________branch) since_____/____/_______.

Signature of Mr./Ms._________________________________________:____________________________________

Yours sincerely,

_______________________________(Signature of Bank Official who attests the signature)

Name:___________________________

Designation:______________________(either fill in OR affix rubber stamp)

Name and Address of the Bank Branch:____________________________________________________ _____________________________________________________________________________________

KYC POLICY Page 22

Annexure-III Affidavit for Non Availability of Signature Verification Document

(to be stamped and notarized)

To,

Axis Bank Ltd

_____________

_____________

Dear Sir/ Madam,

With reference to my application for a _____________________________________ loan, I hereby

affirm that I do not possess any signature proof document.

My signature is as under and I hereby confirm that all actions and transactions

authorized/executed by me using the below signature shall be legally binding on me.

Signature:

Name: ___________________________________________________________________________________

Address: _________________________________________________________________________________

Date:_________________

KYC POLICY Page 23

Annexure IV

Signature Mismatch Declaration To, The ASC Head _________________ ASC Dear Sir/ Madam, With reference to my request for _________________(loan Product). I hereby affirm that my signature has changed from the one featured in my _______________________(document) over passage of time. My present signature is as under and I hereby confirm that all actions and transactions authorized/executed by me using the below signature shall be legally binding on me.

Previous Signature Present Signature Name: Account no./Customer ID: (write new if new to the bank customer) Date: I agree to indemnify and keep indemnified the Bank at all times from and against all costs, charges, damages, penalties (including attorney fees) suffered and/or incurred by for any act done or omitted to be done on account of the above declaration.

Present Signature -------------------------------------------------------------------------------------------------------------------------------------------- Bank Certification (to be certified by the Bank Officer) I certify that the customer has personally met and has signed in my presence. Kindly process the request. Signature: Name: Bank Officer Employee No.

KYC POLICY Page 24

Annexure V

DECLARATION

(to be obtained in case the executant signs in the language other than English and Illiterates)

The contents of the Agreement dated ___________________ executed by (1)__________________ (2) __________________ (3)__________________ In favour of Axis Bank Ltd. for the credit facilities / loan of Rs.________________ have been read over and translated into________________ and explained to Mr./Mrs.______________________ the Borrowers / Guarantors and he / she / they having understood the contents thereof subscribed to the Agreement (dated at ___________________ this ____________day of __________________ 20____)

Declarants Name & Address

Signature of Declarant

Date

KYC POLICY Page 25

Annexure-VI KYC compliance certificate

This is with reference to the application of (Customer Name) for (Product)

We certify that we have collected the KYC documents for the above mentioned customer as per KYC guidelines of the Bank, for customer ID _______________________ in name of ___________________.

The said account is KYC complaint as per laid down norms.

Date of Account Opening: ________________________

The address as per our records is as under ___________________________________

This is for your information.

Regards,

Name of the Branch Head / Branch Operations Head/CPC Head /Operation Head: ________________________________

Employee No:__________________

Branch: ______________________________

KYC POLICY Page 26

Annexure-VII Low Risk Category

OCCUPTIONCODE OCCUPTION CODE DESCRIPTION OCCUPTIONRISK 1 ACCOUNTANT Low 2 ADMINSTRATOR Low 3 003 - ADVISOR Low 6 006 - ATTENDANT Low 9 009 - BAKER Low

10 BANK'S SERVICE Low 15 CABINET MAKER Low 16 016 - CARETAKER Low 17 017 - CARPENTER Low 19 019 - CLERK Low 20 COMPANY Low 21 021 - CONTRACTOR Low 22 022 - COOK Low 23 023 - JUDGE Low 24 024 - CONSULTANT Low 25 CULTURAL ASSITANT Low 26 DEPUTY COMMISSIONER Low 28 DISPENSER Low 29 029 - DOCTOR Low 30 030 - DRIVER Low 31 ECONOMIST Low 32 ENGINEERING Low 33 033 - EXECUTIVE ASSISTANT Low 34 034 - FACTORY WORKER Low 35 FILL. STA. WORKER Low 36 FIREMAN Low 37 037 - FISHERMAN Low 38 FISHMONGER Low 39 GANGMAN Low 40 GARAGIST Low 41 GENARAL RETAILER Low 42 GOVERNMENT SERVICE Low 43 043 - HAIRDRESSER Low 44 044 - HELPER Low 45 045 - HOUSEWIFE Low 50 LABOURER Low 51 LECTURER Low KYC POLICY Page 27

52 052 - LIBRARIAN Low 53 LORRY DRIVER Low 55 MAID Low 56 MANAGER Low 57 MANUAL LABOURER Low 58 MARKET EMPLOYEE Low 59 MASON Low 61 MESSENGER Low 62 MINOR Low 63 MARKETING ASSISTANT Low 65 NURSE Low 66 OFFICER Low 67 OPERATOR Low 69 OVERSEER Low 70 070 - PENSIONER Low 71 071 - PHARMACIST Low 72 PLANTER Low 73 POLICEMAN Low 74 074 - POSTMAN Low 75 PRIEST Low 76 PROOF READER Low 77 PROGRAMMER Low 79 PRIVATE TAILOR Low 80 QUANTITY SURVEYOR Low 81 RECTOR Low 83 RELIEF WORKER Low 84 SECRETARY Low 87 SALESMAN Low 88 STOREKEEPER Low 89 089 - SCHOOL STUDENT Low 90 SUPERVISOR Low 91 SYSTEMS ANALYST Low 92 TAILOR Low 93 TAXI DRIVER Low 94 TEACHER Low 95 095 - TECHNICIAN Low 96 TIMEKEEPER Low 97 TRADER Low 98 098 - TYPIST Low 99 UNEMPLOYED Low

100 100 - WAITER Low KYC POLICY Page 28

101 101 - WATCHMAN Low 102 WATCHMAKER Low 103 103 - WELDER Low 104 AGRICULTURIST Low 105 SERVICE-PUBLIC SECTOR Low 106 SERVICE-PRIVATE SECTOR Low

111 111 - SMALL ROAD TRANSPORT OPERATOR Low

112 SALARIED Low 130 SERVICES Low 133 133 - UNDER GRADUATE Low 134 134 - POST GRADUATE Low 135 135 - STUDENT - OTHERS Low 136 136 - RETIRED Low 138 138 - SOFTWARE ENGINEER Low 139 139 - CHARTERED ACCOUNTANT Low 140 140 - ENGINEER Low 142 142 - OTHER PROFESSIONAL Low 143 143 - ARTISAN Low 145 145 - ARCHITECT Low 151 151 - PROFESSOR Low 152 152 - UNEMPLOYED Low 154 154 - FARM ACTIVITY Low 155 155 - NON-FARM ACTIVITY Low 156 156 - OTHERS - AGRI Low 172 172 - PHARMACIST Low

112A SAL(RETIRAL AGE 58) Low 112B SAL(RETIRAL AGE 60) Low 113A Defence (CO) Low 113B Defence (JCO) Low 113C Defence (NCO) Low

KYC POLICY Page 29

Annexure-VIII

Indicative list of examples of Gazetted Officers, who may attest copies of documents or certify the bonafides of a customer are as follows: -

Officers of the Armed Forces Principals and Faculty members of Central, State Universities and Government Degree

Colleges Central and State Government Employees with Group A service rules (IAS, IPS, IFS, IRS,

Geologist of GSI etc.) Patent Examiner (Government Services) Scientists (in government funded research organizations) Vice-Chancellor to Assistant Registrars of Universities Doctors, Engineers and Drug Controller (central and state services) Magistrate and above in judicial services Doctors (state government service) Drugs Inspector (state government service) SDO, BDO in State Governments Secretary Grama Panchayat, Kerala Circle inspector etc. in State Administration Principal of Government Lower or Upper Schools Junior college teachers of Government Colleges Income Tax and Revenue Officers Senior and (AAO) Assistant Audit/Accounts Officers of (IA&AD) (CAG) Indian P&T

Accounts and Finance Services and Section Officers Officers in the grade of Tehsildars and above Public Works Department Assistant Engineer and Sub-Division Officer Civil Surgeons and Doctors in Government Hospitals

KYC POLICY Page 30

Annexure IX

KYC Guidelines for NRI/PIO/OCI and Foreign Nationals

The circular issued by Compliance department for KYC Guidelines for NRI/PIO/OCI and Foreign Nationals are mentioned below:

Compliance Circular No. 7/ 2013-14 dated 28th August 2013 Compliance Circular No. 10/2013-14 dated 13th November 2013 Compliance Circular No. 11/2014-15 dated 4th July 2014 Compliance Circular No. 13/2014-15 dated 28th July 2014 Please note that the KYC module is a general requirement of KYC documents and any credit

document over and above the KYC document, may be specified by the policy team in their

respective policy notes.

1. Status Determination

As per the Banks Customer Acceptance and Identification procedures, the Officer of the Bank, who accepts any New to Bank relationship is expected to first determine the status of the applicant (whether the applicant qualifies to be an NRI / PIO / Resident) and then obtain relevant documents to verify the basic KYC details that would confirm that the applicants status as an NRI / PIO / Foreign National.

1.1. Non-Resident Indian (NRI)

RBI Definition: As defined in Regulation 2 of FEMA Notification No 5, dated May 3, 2000, an NRI is a person resident outside India, who is a citizen of India or is a Person of Indian origin.

An NRI is an Indian Citizen who stays abroad for the purpose of carrying out employment, studies, business or vocation indicating an intention to stay outside India for an uncertain duration; posted in UN organizations or officials deputed abroad by the Government or Public Sector Undertakings on temporary assignment. Indian nationals who may be Mariners/ working on oil rigs / foreign registered airlines are also treated as NRIs.

Please note that the Indian Income Tax act has different definition for NRIs. We may not consider that definition while considering applicant for opening NRI accounts, which definition is important for taxation purpose only.

1.2. Person of Indian Origin (PIO)

RBI Definition: As per Regulation 2 of FEMA Notification, a PIO is defined as a citizen of any country other than Bangladesh or Pakistan, if,

(a) He/ she, at any time, has held an Indian passport, or

KYC POLICY Page 31

(b) He/ she or either of his/ her parents or any of his/her grandparents was a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955, or

(c) He/she is a spouse of an Indian citizen or of a person of Indian origin

1.3. Foreign National

A foreign national is a citizen of another country (holding a foreign passport) who may reside in India for the purpose of employment, studies, business or tourism or any other allowed purposes.

The following documents should be obtained:

a) A copy of valid foreign passport (pages with applicants name, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any. A copy of valid Indian work visa / work permit / resident permit

b) A copy of valid overseas address proof (As per the acceptable list of address proof) c) A copy of valid Indian address proof (As per the acceptable list of address proof) d) Recent passport size photograph e) Declaration cum Undertaking signed by the Foreign National. f) The registration certificate obtained from Foreigners Registration Office (FRO) /

Foreigners Regional Registration Office (FRRO). g) Letter from employer/ contract letter / permission of RBI in case of business, Proof of

Admission in University, as applicable.

1.4. Returned NRI

A returned NRI is a person of Indian nationality or origin, who has returned to India on or after April 18, 1992 for permanent settlement, after being resident outside India for a continuous period of not less than one year.

2. Mandatory KYC documents

2.1. For NRIs

a) Recent passport size photograph b) Copy of Valid Indian Passport (pages with applicants name, address, date of birth, date

and place of issue, expiry date, photograph, signature and observation page, if any). The passport should be valid for the succeeding complete six months from the date of application for the opening of the account.

c) Proof of NRI status, by way of valid Employment/Residence/Student/Dependent Visa copy or Work / Residence Permit (the visa could be either in the passport or given separately or e-visa) Please refer Section 4 for visa type and validity.

d) Proof of Overseas Address (list of acceptable proofs is given in Point 5) All the documents should be self-attested by the applicant - customer.

2.2. For PIOs

a) Recent passport size photograph KYC POLICY Page 32

b) Copy of Valid Passport (pages with applicants name, date of birth, date and place of issue, expiry date, photograph, signature and observation page, if any)

c) Proof of PIO status. The list of accepted PIO proof documents is given below d) Proof of Overseas Address. The list of acceptable proofs is given in Point 5 e) Duly signed and filled-in PIO declaration in the NRI AOF (Account Opening Form)

All the documents should be self-attested by the applicant - customer

List of acceptable documents for PIO proof

a) PIO Card or OCI Card or b) Expired Indian Passport or c) Voters ID card or d) Recent NRE Bank Account Statement from any scheduled Bank in India (not more than 3

months old) or e) Copy of Birth Certificate or f) Copy of Indian Ration Card or g) Copy of Registered Marriage Certificate or h) Certificate issued by Indian Embassy or Consulate proving customer PIO status or i) Existing/ Expired Indian Passport /Voters id card of Spouse/ Mother/ Father/Grand

Parents(In this case a valid relationship proof need to be obtained) However, no separate proof for PIO status need be insisted upon when the place of birth as appearing in passport is part of post independent India and the date of birth of the applicant is on or after 26th January, 1950. The rationale is that any person born in India after 26th January, 1950 automatically becomes citizen of India by birth as per Citizenship Act, 1955. In case of a person qualifying as PIO by virtue of being a spouse of an Indian Citizen or PIO, the marriage certificate along with proof of Indian citizenship / PIO status of the spouse should be obtained. Such bank accounts are to be opened jointly with his / her NRI/PIO spouse. Note: Indian PAN (Permanent Account Number) card is not an acceptable proof of PIO status.

2.3 For Foreign Nationals

Foreign Nationals coming to India may open and maintain Indian Rupee accounts in India. Considering that the operations in these accounts are closely regulated, these have to be monitored regularly.

3. Compulsory Verification of documents:

3. 1. Photograph

Photograph on the AOF should bear a resemblance to the applicants photograph on the Passport, else a separate photo ID proof to be obtained (mentioning applicants name, applicants fathers name and applicants date of birth)

3. 2. Name

Name of all the applicants on the AOF should match with the name mentioned on Passport / PIO Card / OCI Card.

KYC POLICY Page 33

In case of resident Indian joint holder, name of the joint holder mentioned on the AOF should match with the given valid photo identity proof (list given below under Point 5).

In case of change of name post marriage, a copy of Registered Marriage Certificate or Notarized Affidavit mentioning the pre-marriage and post marriage name, may be accepted.

For other cases of difference in name appearing on the passport and the name declared by the customer on the Account Opening Form, the Branch may obtain a notarized affidavit confirming the correct name along with an alternate officially valid document, which is in the name declared by the customer in the Account Opening Form.

3.3. Passport Expiry Date

The passport should be valid for the succeeding complete six months from the date of application for the opening of the account. Any renewal should be endorsed on the passport.

4. Visa Type and Validity

The Visa should be current and valid Employment/ Residence/ Student or Dependent visa. It should NOT be a Tourist/ Medical/ Business visa (e.g. B1/B2 of USA) or any other short term visa (except employment/residence/student visa). The following types of Visa are acceptable for the opening of accounts, provided the additional conditions as mentioned for each case are complied with: 1. Entry / Re-Entry Work / Residence Visa accompanied with valid employment

contract/offer letter containing requisite information on Salary, duration of job and place of posting along with customer signed declaration will be accepted to open an account. The offer letter should be on company letter head with company seal and signature.

For students, the university admission letter (mentioning the duration of the course*) and signed customer declaration along with short term visa will be accepted to open an account.

The customer has to submit the valid visa before expiry of the Entry Work/Residence/Student Visa, failing which the account balance would be frozen/ closed.

Re-entry permit of Saudi Arabia where the Iqama number is mentioned on it, is also acceptable with customer declaration.

* Duration of the program should not be less than 6 months. 2. Bridging Visa for customers resident in Australia can be accepted for account opening.

A copy of the customer passport which bears the original expired Visa, along with the email regarding issuance of the bridging visa needs to be submitted.

KYC POLICY Page 34

Branch needs to ensure that the original visa was a valid long term resident/work Visa and Bridging Visa is issued for the same category.

3. E-Visa for customers resident in Australia can be accepted for account opening. For e-Visa, the branch official needs to verify the validity and type of visa by logging on to http://www.immi.gov.au/e_visa/vevo.htm and providing customers passport number, Date of Birth and Visa grant number/reference number. The print of the screenshot of the webpage mentioning the visa details should be attached along with the Account Opening Form, duly attested by the branch official.

4. I 797A and I 797C be accepted for account opening for customers resident in the USA. A copy of such a visa, mentioning the date of issue and the date of expiry, along with the original expired visa needs to be submitted.

5. Resident Permits/Cards, as mentioned below can be accepted as visa

a. USA Green Card b. USA Employment Authorization Card c. Singapore Non Resident Card d. Singapore Employment Pass e. Singapore Dependent Pass (Should be supported by sponsors valid visa) f. Malaysian Resident Card g. Iqama of Gulf Countries h. Electoral Card of Panama i. Hong Kong Identity Card j. Japan Permanent Resident Card

(Many of these cards do not have expiry date mentioned on it because it does not expire for the duration of residency in that country)

6. Valid Nigerian Temporary Resident Card duly attested by the Immigration officer (with seal and signature) along with re-entry Visa of Nigeria

7. Short Term IM visa along with the approval copy of Permanent Residency for customer resident in Canada

8. E-Visa of Canada along with a visa declaration form (part of AOF), provided it is a valid employment/resident/student/dependent visa,

9. Dependent Visa can be accepted only when submitted along with the Sponsors visa, provided Sponsors Visa is a valid resident or work visa.

IMPORTANT NOTE: In case the Visa is in a foreign/regional language not familiar to the Bank, the translated version of the Visa duly attested by a foreign embassy/ consulate / Public Notary needs to be obtained.

The expiry date of the Visa would be invariably captured in the account details in Finacle. Post expiry of the Visa, the account balance would be frozen. Branches are advised to ensure that the updated Visa details are obtained and captured in the account records.

KYC POLICY Page 35

5. Address

For proof of overseas address, a copy of any one of the following documents duly attested as per procedure prescribed in point 7 may be obtained. The requirement of overseas address is not applicable to accounts of mariners / seafarers.

a) Passport b) Bank statement (not more than 3 months old from the date of application) of Overseas

or India based bank. c) Valid Permanent Overseas Driving License d) Credit Card statement (not more than 3 months old) e) Company ID card indicating the address f) Certificate from Indian Diplomatic Mission stating the contact address g) Government ID card (SSN / Green Card / PIO card / OCI card) h) Utility bill (electricity/ gas/phone/ water not more than 3 months old from the date of

application) i) Appointment letter of overseas Employer Corporate. j) Letter from foreign University stating the address (for on-campus lodging) k) Registered Purchase / Sale Deed or agreement l) Foreign Government issued Identity Card m) Lease / Rent / Leave and License agreement indicating the address of the customer

duly registered with Government or similar registration authority. n) Valid employment contract letter. o) Valid employment offer letter. p) Employers certificate for proof of overseas address. q) Letter from the government postal services confirming the address of the applicant. r) Permanent Resident Permit / Work Permit mentioning the overseas address. Following

are some of the residence permits that have the address mentioned thereon: - Kuwait-Bataaka Madaniya (Civil ID), Saudi Arabia-Iqaama (Residential permit), Oman-Residence Card, UAE-Labour Card , Bahrain-CPR (Central Population registry) Card and Qatar-Residence Card, Singapore/Malaysia Permanent Resident Card

Address proof document stating the same P.O. Box number for different customers can be accepted as overseas address proof. (Applicable for Middle East countries only).

In case the overseas address proof is in a foreign language not familiar to the Bank, a translated version of the same duly attested by the foreign embassy/ consulate / Public Notary is required. The document translated by a Government Registered Translator may be accepted.

If the customer is going abroad for employment/study purpose for the first time, he/she may provide the company/university address as overseas address. In this case, a letter from the university confirming the admission, OR valid offer letter from the employer, stating the company address may be accepted as address proof.

The address proof can be of self or in the name of close relative / spouse only. Close relatives are defined in Section 6 of the Companies Act, 1956.

KYC POLICY Page 36

MEANING OF "RELATIVE"

A person shall be deemed to be a relative of another, if, and only if,

(a) They are members of a Hindu undivided family; or

(b) They are husband and wife; or

(c) One is related to the other in the manner indicated in Schedule IA. Schedule 1A of Section 6 of Companies Act List of permissible close relatives 1. Father 2. Mother (including step-mother) 3. Son (including step-son) 4. Sons wife 5. Daughter (including step-daughter) 6. Fathers father 7. Fathers mother 8. Mothers mother 9. Mothers father 10. Sons son 11. Sons Sons wife 12. Sons daughter 13. Sons daughters husband 14. Daughters husband 15. Daughters son 16. Daughters sons wife 17. Daughters daughter 18. Daughters daughters husband 19. Brother (including step-brother) 20. Brothers wife 21. Sister (including step-sister) 22. Sisters husband

In case of address proof in the name of close relative / spouse, additional documents need to be collected: a) Identity and address proof of close relative/spouse b) A declaration from the relative that the prospective customer wanting to open the

account is a relative and is staying with him / her.

Important:

Documents for confirming the Indian / Overseas address proof of the applicant / blood relative should not be more than 3 months old from the date of application (except for Passport, PIO Card and Government issued identity document).

KYC POLICY Page 37

6. Valid signature Proof

The following documents can be accepted:

a) PAN Card b) Voters ID Card c) Aadhaar Card / Letter containing the name, address and photograph of the applicant. d) Resident / Work Permit with photograph can be considered as Identity proof if given

separately either as a card/ book or letter. However, temporary / entry work permit doesnt fall under this purview.

e) NREGA Job Card f) Identity Card issued by the Government / Defense Authority/ Public Sector Undertaking g) Malaysia and Singapore Resident Card containing the registration number, photograph and

name of the applicant h) Valid visa carrying photo i) Continuous Discharge Certificate (CDC) booklet containing photograph, name and

signature j) Permanent Resident cards issued in the Country of Origin containing the photograph, name

and signature. k) Photo Social Security Card (Smart Card) issued by Central / State Government or Union

Territories l) Person of Indian Origin (PIO) Card issued by the Government of India m) Overseas Citizenship of India (OCI) Card issued by the Government of India n) Residential card with name, photograph and address issued by Union Territories (e.g. Port

Blair).

7. Attestation Formalities

7.1. Accounts with In-Person Verification

Axis Bank Official accepting the KYC documents from the applicant should verify the copies of the documents with the originals and should attest the same as Verified with Original and affix his/her signature along with the official stamp.

7.2. Accounts of Non-Face-to-Face customers

For Account Opening Forms (AOF) received by Post / Courier / PO boxes where in-person verification by Axis Bank official is not possible, the KYC documents should be attested by:

a) The Indian Embassy or Consulate or b) Notary Public or c) Existing Banker or d) Any branch of an Indian Scheduled Commercial Bank having an overseas branch in the

Country of Origin.

8. General Guidelines

The general guidelines for opening and operating of the accounts of Non Resident Indians are enumerated below:

KYC POLICY Page 38

8.1. Account Opening

a) Account Opening Form (AOF) prescribed for accounts of Non-Residents should be

obtained duly completed along with the relevant KYC and other documents depending on the type of account and the type of account holder.

b) AOF should be signed by all the applicants, who would be holding the account.

c) All the supporting documents have to be self-attested by the customer and in the case of Non Face-to-Face customers as given in the instructions contained in Point 7.2 above.

d) The photograph of the applicants should be pasted on the AOF and customers signature should be obtained across the photograph.

e) The Banks seal should be affixed across the photograph

8.2 Onsite Verification

Onsite verification of addresses declared by the customer in the AOF is waived off for NRI Accounts. However, on site verification is mandatory in case the declaration from the relative is submitted for proof of Indian address.

Residence Verification - To be conducted at the POA holder's residence & the applicant's residence in India (if applicant or family members are present in India)

8.3. E-mail address is mandatory for NRI customers. However, ONLY in highly exceptional cases, the Product Heads can approve the waiver based on the recommendation of the Regional Sales manager.

8.4. Mandate Agreed POA is required for loan processing

NRI customers can give a letter of authority to relatives or friends (NRIs or Resident Indians) to operate the account on their behalf. The following documents need to be obtained:

a) Valid KYC proof of the POA holder (as per Point 5 / Point 1.a. of resident individual) b) Recent passport size photograph of POA

The POA should be signed by all the applicants as well as the POA holder. POA has to be in original.

Facilities and rights available to the POA Holder

POA Holder CAN

a) Change address for self b) Activate an inactive / dormant account c) Conduct any other permissible operation locally

POA Holder CANNOT

a) Change his/her signature available in the banks system without the consent of the account holder/s

b) Request for duplicate internet banking password or address change, or mobile number change/update, or email id change/update etc.

KYC POLICY Page 39

Annexure V