KYC Norms Eased for Account Transfers at RRBs and Co-op Banks
Current · Source: Reserve Bank of India · RBI/2012-13/410 · issued 30 Jan 2013 · ~2 min read
Quick answerRBI has relaxed KYC rules for account transfers: banks can now transfer accounts without fresh address proof, accepting a self-declaration and allowing six months to submit proof. Rent agreements are also now valid address documents.
The rule, in the simplest words
When you move your bank account from one branch to another, you don't need to show a new address proof right away—just sign a paper saying your current address (self-declaration).
You have six months to give the bank a real address proof, like a utility bill or a registered rent agreement (a legal paper from the government showing you rent a place).
Banks can now accept a registered rent agreement as a valid address proof, just like they accept electricity bills or other documents.
If you change your address, you must tell the bank within two weeks, and when you open an account or update your info, you promise to do this.
How it plays out — a real example
A KYC & compliance officer in Indore has a customer who just got a job transfer and needs to move her savings account to a branch near her new home. The officer lets her sign a self-declaration of her new address, without asking for a rent agreement or utility bill right away, and gives her six months to bring in the proof. This makes the customer happy because she can start using her account immediately without stress.
What changed
RBI modified KYC instructions to allow banks to transfer existing accounts to another branch without requiring fresh proof of address at the time of transfer. Instead, a self-declaration of current address suffices, with proof to be submitted within six months. Additionally, registered rent agreements are now accepted as valid address proof alongside existing documents.
What it means for you
This change reduces friction for customers with transferable jobs or those migrating, as they no longer need immediate utility bills to move accounts. Banks must update their KYC policies to incorporate these relaxations while ensuring eventual compliance. It simplifies operations for RRBs and co-operative banks, potentially improving customer retention and satisfaction.
What you must do
Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with a six-month window to submit proof.
Accept registered rent agreements as valid address proof for KYC purposes.
Inform customers to notify the bank of address changes within two weeks and obtain an undertaking to this effect during account opening and periodic KYC updates.
Ensure strict adherence to the revised KYC policy across all branches.
Who it affects
Regional Rural Banks (RRBs), State Co-operative Banks (StCBs), Central Co-operative Banks (DCCBs), Customers with transferable jobs or those migrating
Built from our lineage records — each fact carries its provenance; missing history simply is not shown (never guessed).
Can a customer transfer their account without any address proof?
Yes, at the time of transfer, the transferee branch can accept a self-declaration of the current address. The customer must then submit proof of address within six months.
What documents are now accepted as address proof under this circular?
In addition to existing documents listed in earlier circulars, a registered rent agreement with the state government or similar authority is now accepted as valid address proof.
📜 This document’s life story (1 recorded event, each backed by RBI’s own words)
RBI’s words: “and RPCD.RRB.RCB.BC.No.63/07.51.018/2012-13 dated January 30, 2013”
📜 Read the original circular — full text as issued by RBI
RBI/2012-13/410
RPCD.RRB.RCB.BC.No. 63 /07.51.018/2012-13
January 30, 2013
The Chairmen / CEOs of all Regional Rural Banks /
State and Central Co-operative Banks
Dear Sir,
Know Your Customer (KYC) norms /Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under Prevention of Money Laundering Act (PMLA), 2002
Please refer to our circular RPCD.CO.RRB.RCB.AML.No.6097/07.51.018/ 2012-13 dated December 13, 2012 on simplification of Know Your Customer (KYC) norms / Anti-Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)/Obligation of banks under PMLA, 2002. With a view to further easing the KYC process for the general public, especially customers who migrate to a new place on account of new job, transfer, etc., it has been decided to effect the following modifications to the existing instructions.
2. Shifting of bank accounts to another centre – Proof of address: Banks are advised that KYC once done by one branch of the bank should be valid for transfer of the account within the bank as long as full KYC had been done for the concerned account. The customer should be allowed to transfer his account from one branch to another branch without restrictions. In order to comply with KYC requirements of correct address of the person, fresh address proof has to be obtained from him/her upon such transfer by the transferee branch. However, a large number of customers with transferable jobs or those who migrate for jobs are unable to produce a utility bill or other documents in their name as address proof immediately after relocating. In view of this, it has been decided that:
(a) Banks may transfer existing accounts at the transferor branch to the transferee branch without insisting on fresh proof of address and on the basis of a self-declaration from the account holder about his/her current address, subject to submitting proof of address within a period of six months.
(b) Banks may also accept rent agreement duly registered with State Government or similar registration authority indicating the address of the customer, in addition to other documents listed as proof of address in Annex II of our circulars RPCD.No.RRB.BC.81/03.05.33(E)/2004-05 dated February 18, 2005 and RPCD.AML.BC.No.80/07.40.00/2004-05 dated February 18, 2005 .
3. Banks should intimate their customers that in the event of change in address due to relocation or any other reason, they should intimate the new address to the bank within two weeks of such a change. While opening new accounts and while periodically updating KYC data, an undertaking to this effect should be obtained. In all these cases customers will have to produce proof of address as mentioned at (a) and (b) above.
4. Banks may revise their KYC policy in the light of the above instructions and ensure strict adherence to the same.
Yours faithfully,
(Madhavi Sharma)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2012-13/410 · issued 30 Jan 2013. The plain-English explanation above is BankPulse’s own independent summary.
Inform customers to notify the bank of address changes within two weeks and obtain an undertaking to this effect during account opening and periodic KYC updates.
Ensure strict adherence to the revised KYC policy across all branches.
📜 Compliance
Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with a six-month window to submit proof.
Accept registered rent agreements as valid address proof for KYC purposes.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are a Compliance officer at a bank this circular applies to (Regional Rural Banks (RRBs), State Co-operative Banks (StCBs), Central Co-operative Banks (DCCBs), Customers with transferable jobs or those migrating), your first concrete step on “KYC Norms Eased for Account Transfers at RRBs and Co-op Banks” is: “Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with a six-month window to submit proof.” (RBI issued this 30 Jan 2013).
Circular: RBI/2012-13/410 -- KYC Norms Eased for Account Transfers at RRBs and Co-op Banks
Issued: 30 Jan 2013
Action required: Update your bank's KYC policy to allow account transfers based on a self-declaration of address, with a six-month window to submit proof.
Action required: Accept registered rent agreements as valid address proof for KYC purposes.
Action required: Inform customers to notify the bank of address changes within two weeks and obtain an undertaking to this effect during account opening and periodic KYC updates.
Action required: Ensure strict adherence to the revised KYC policy across all branches.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=7846&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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