Is kyc mandatory for bank account

Yes, KYC (Know Your Customer) is mandatory for opening and maintaining a bank account in India. According to RBI guidelines, banks must verify the identity and address of customers to prevent identity theft, money laundering, and financial fraud. For a standard account, you must provide any one of the six Officially Valid Documents (OVDs):

• Aadhaar Card
• Passport
• Voter ID Card
• Driving Licence
• PAN Card
• NREGA Job Card

Failure to complete KYC can lead to the freezing of your account or restrictions on transactions.