(a) whether the Reserve Bank of India (RBI) has directed the banks not to open accounts of citizens who have single
name or having no surname despite having legal proof such as electoral identity card and other valid documents;
(b) if so, the details thereof and the reasons for issuing such direction to banks; and
(c) the remedial steps taken/proposed to be taken by the Government in this regard?
MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) to (c): Reserve Bank of India (RBI) has not issued any guidelines to banks not to open accounts of citizens who have single name or having no surname. However, RBI has issued guidelines on Know Your Customer (KYC) / Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) advising banks for identifying the customer and verifying his/her
identity by using reliable, independent source documents, data or information. Banks need to obtain sufficient information necessary to establish, to their satisfaction, the identity of each new customer, whether regular or occasional. Further,
the Banks have been advised that they should not allow the opening of or keep any anonymous account or accounts in
fictitious name or account on behalf of other persons whose identity has not been disclosed or cannot be verified.