Know your customer(kyc) The first thing that a person encountered while opening a bank account is the KYC that is Know Your customer. It is the basic procedure that must be followed by all the bankers. It was introduced by RBI in 2002. What is kyc? It is a process of a bank for identifying and verifying the identity of the customer by using reliable,independent source documents, data or information. Objectives of kyc * To prevent banks from being used by criminal elements for money laundering activities. * To better understand their customers and their financial dealings. List of documents come under KYC. * passport * PAN card * Voter's ID * Driving License * Job card issued by NAREGA (Duly signed by an officer of state govt.) * AADHAR *Identity card (subject to bank's satisfaction) * Letter from a recognized public authority. For permanent address. * telephone bill...