NEWS & ADVICE : CREDIT CARDS
India Post launches I-cards
By Ankit Sharma
May 29, 2009
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India Post has rolled out the Proof of Address Card, a photo I-card which would serve as a legal identity and residential proof.

The card was launched by Indra Krishnakumar, a member of postal services board, New Delhi and SK Kamila, chief postmaster general, Orissa at a state-level workshop on promoting premium products. Earlier, service alike was launched for the first time in India in Chennai. The Orissa Postal Circle, India Post has now rolled it out in Bhubaneswar and Cuttack.

The card would be issued for a fee of Rs 240 against an application form costing Rs 10. The individual's details furnished in the form would be cross-verified by the department's public relation inspectors before the card is issued by the postmaster of the head offices.

The card would bear individual's name, date of birth, photograph, residential and office address, blood group and signature.

Earlier this month, RBI had recommended the Government to relax the KYC norms subsumed in Prevention of Money Laundering Act, 2002 (PMLA 2002) to make it easier for the customers to open new bank accounts. The regulator had also advocated the consideration of individual's photo and an affidavit as proof for new account opening.

The Proof of Address card by India Post will help the individuals in serving a proof of identity and address while opening new bank accounts, applying for loans, credit cards, getting post-paid mobile connections; etc.

 


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