On 17th July,2014 the Reserve Bank issued a notification stating the officially valid documents for opening bank account. RBI has revised the Know your customer guidelines with the government's prevention of money laundering norms.
The list of valid documents includes Aadhar Card, PAN card, voter ID card, driving licence, passport, or the NREGA card. This list is similar to the previous only the change is any other document as may be required by the banking company or financial institution or intermediary is replaced by any document notified by the central government.
It has been reported that soon Aadhar will become a universal document for opening a bank account. It will be easy for the customers now to open the account with Aadhar Card. Most of the unbanked customer may not have the other five valid documents. With the Aadhar Card now the minors can also easily open their account.