Small account limits: simplified KYC with designated officer certification, monitored branches, and remittance restrictions without full ID. The amendment creates a small account class with restricted transactional and balance thresholds and allows opening on a self attested photograph and signature or thumbprint certified by a designated officer. Such accounts must be opened only at CBS linked or manually monitored branches to prevent foreign remittances and to ensure limits are respected. Initial operation is time limited and extendable pending application for official ID; suspicious activity triggers full identity verification. NREGA job cards and Aadhaar letters are added as officially valid documents and accounts opened solely on those documents are to be treated as small accounts.
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.
Small account limits: simplified KYC with designated officer certification, monitored branches, and remittance restrictions without full ID.
The amendment creates a small account class with restricted transactional and balance thresholds and allows opening on a self attested photograph and signature or thumbprint certified by a designated officer. Such accounts must be opened only at CBS linked or manually monitored branches to prevent foreign remittances and to ensure limits are respected. Initial operation is time limited and extendable pending application for official ID; suspicious activity triggers full identity verification. NREGA job cards and Aadhaar letters are added as officially valid documents and accounts opened solely on those documents are to be treated as small accounts.
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