If the address changes due to a move or other reason, customers can have the new correspondence address with the bank within two weeks of the change, RBI added. Some people become disoriented by the levies and standing orders and the difference between them. Others may need help managing the timing of their payments and avoiding denied payments and bank fees. The RBI added that if the proof of the address provided by the customer is not the local address or address to which the customer is currently located, the bank may receive a statement from the local address on which the bank`s full correspondence with the customer is made. Investors with a short-term horizon can buy MOIL stock at the current level. The action shows the first… In India, the deposit or advance is also paid by the tenant to the landlord who must be reimbursed at the time of termination of the contract. As a general rule, it is charged anywhere from 2 or 3 months to 10 months of rent. The security deposits are made at the time of signing the contract. If the address on the document differs from the current address listed in the account opening form, banks must currently obtain separate proof of address. Santosh Barik and his family – his wife, his parents and two sisters – were farm labourers in his village… Our video « How to choose a bank account » explains the different types of accounts and the choice of the right account.

According to the Reserve Bank of India, migrant workers and transferred workers must provide only written (current or permanent) proof of address when opening a bank account. Development sources said the Central Bank had discussed the issue with the government and highlighted the difficulties citizens would face. As a result, at the end of October, the government made it three months available to the account holder to comply with the standards. A communication from the Ministry of Finance of the Ministry of Finance on June 1 of this year lists five officially valid documents – passport, driver`s license, voter card, NREGA-issued employment card, signed by a state government official, letter from the National People`s Chancellor containing information on name and address – that can be accepted by banks as evidence of the present. or the current address. This requirement stems from a change in anti-money laundering rules, as notified by the Ministry of Finance, which imposes five specific documents as proof of the « current » address that a customer must provide to a bank branch to open a new account. Some credit unions and other providers have begun working with councils and social landlords to develop rental accounts and other jam-type accounts. When selecting a bank account, your tenants must search for an account that allows it: if an NRI wishes to open the account before going abroad, a copy of the employment contract, the university letter, the text of the contract or another document can be received as proof of the postal address, provided that the address on the application form and the address on the documents are identical. Before people can start managing their own rents, they need the right type of bank account.