Mumbai, Sep 6 (IANS): The Reserve Bank of India has sought to dispel rumours and curb malpractices in banks on the pretext of Know Your Customer (KYC) norms by issuing clarifications on the guidelines.

The RBI guidelines say: "If your current address is not the same as the proof submitted to your bank, a simple declaration of your new address is adequate."

Even without the "proof of identity and address", anyone can open a savings bank "small account" by submitting a recent photograph and signature and enjoy account balance of up to Rs 50,000, withdrawals of up to Rs 10,000 per month and total credits of up to Rs 1 lakh per financial year, it said.

Banks need to reconfirm KYC details only in every 2, 8 or 10 years depending on the risk profile, it added.

For KYC norms, one "proof of identity" and "proof of address" and a recent photograph are enough to open a bank account, RBI stated.

The Aadhaar card, a driving license, voters' identity card, passport or National Rural Employment Guarantee Act (NREGA) card serves as both proof of identity and proof of address while PAN card serves only as proof of identity, the apex bank clarified.

For any grievances about the KYC process, a person can complain to the bank and if unsatisfied with the response, can directly complain to the RBI's Banking Ombudsman, the notification said.