Reserve Bank of India (RBI) has notified that the Aadhaar Card is a valid proof for opening of a bank account under the Know Your Customer (KYC) scheme.

RBI vide its circular dated 28.09.2011 has advised banks to accept the Aadhar letter issued by Unique Identification Authority of India (UIDAI) as an officially valid document for opening bank accounts without any limitations applicable to small accounts. Further, the RBI has also advised the banks vide its circular dated 10.12.2012 that if the address provided by the account holder is the same as that on Aadhaar letter, it may be accepted as a proof of both identity and address.

This was stated by Shri Namo Narain Meena, MoS in the Ministry of Finance in written reply to a question in the Lok Sabha.

Aadhaar as KYC address proof recognized, permitting acceptance as identity and address evidence where details match. Aadhaar is an officially valid document for KYC in bank account opening, acceptable as identity proof without small-account limitations; if the account holder's address matches the Aadhaar letter, that document may serve as proof of both identity and address for account opening.