Account verification requirement: Depository participants must authenticate identity and address before opening beneficiary accounts, or face regulatory action. Depository participants must authenticate applicants' identity and photograph by an existing account holder, the applicant's bank, or by verification against originals of a passport, voter identity card, driving licence, or PAN card with photograph, and must obtain verified proof of address with originals certified by an authorised official; participants must verify existing accounts, report failures to produce originals, and may face account freezing or suspension of registration for non-compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Account verification requirement: Depository participants must authenticate identity and address before opening beneficiary accounts, or face regulatory action.
Depository participants must authenticate applicants' identity and photograph by an existing account holder, the applicant's bank, or by verification against originals of a passport, voter identity card, driving licence, or PAN card with photograph, and must obtain verified proof of address with originals certified by an authorised official; participants must verify existing accounts, report failures to produce originals, and may face account freezing or suspension of registration for non-compliance.
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