Relaxation of Know Your Customer (KYC) norms

Earlier, two documents, one for proof of identity and other for proof of address, were required for KYC verification by authorized courier companies but now in case of an individual if any one document contains both proof of identity and proof of address, the same shall suffice. Usually individuals possess proof of identity in the form of prescribed documents but the address mentioned in the document is not the present address. In response to this, the board has decided that where the proof of present address is not available with the individual, the proof of identity collected at the time of delivery along with the address recorded for the delivery purpose by the courier companies would suffice for KYC verification. The above dispensation for proof of address would be available only in respect of individuals for import of documents, gifts/samples/low value dutiable consignments up to the maximum CIF value limit of Rs. 50000/-.

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