transfer operations cip – natural persons ( np ) – identification documents • pan card, passport, voter ’ s identity card, driving license, uidai letter – aadhaar, nrega card duly signed by an officer of state govt. • identity card issued by employer ( subject to the bank ’ s satisfaction ) • letter from a recognized public authority or public servant verifying the id & address ( subject to the bank ’ s satisfaction ) • salaried employees – letter of identity and / or address from corporates and entities of repute ( 1 officially valid document is required ). cip – np – address documents • telephone bill • bank account statement • letter from any recognized public authority • electricity bill • ration card bis central bankers ’ speeches • letter from employer ( subject to satisfaction of the bank ) if an officially valid document is produced for identity • rent agreement duly registered with state govt or similar regn. authority indicating the address of the customer. • based on self - declaration, accounts could be transferred from one branch to another without address proof ( correct address proof is to be obtained by the transferee branch within 6 months ). • any one of the documents would suffice ( if address is available in id document, single document is sufficient ). • banks to obtain sufficient information necessary to establish, to their satisfaction, the identity of customer and the purpose of the intended nature of banking relationship. • banks need to satisfy the competent authorities that due diligence was observed based on the risk profile of the customer. • banks have been advised to accept e - kyc service of uidai as a valid process for kyc verification. the information including the photographs made available from uidai as a result of e - kyc process to be treated as “ officially valid documents ”. cip – close relatives • in respect of close relatives, e. g. wife, son, daughter and parents, etc who live with their husband, father / mother and son, etc., banks can obtain an identity document and a utility bill of the relative with whom the prospective customer is living along with a declaration from the relative that the said person ( prospective customer ) wanting to open an account is a relative and is staying with him / her. • banks can use any supplementary evidence such as a letter received through post for further verification of the address. cip – peps ( non - resident ) politically exposed persons ( peps ) are individuals who are entrusted with prominent public functions in

demat costs, fees for ipa etc. associated with the launching of cp. the share of leasing and finance companies ( lfc ) has started showing markedly increasing trend from only 13 per cent in 2000 - 01 to as much as 38 percent during 2003 - 04. further, for the first time since the introduction of cp in 1990, in the current financial year up to december 2004, the share of lasing and finance companies at 54 per cent is more than the share of manufacturing companies at 34 per cent. the shares of fis have also increased dramatically from an average of only one percent during 2001 - 02 to 18 percent during 2003 - 04 before declining to 12 per cent during 2004 - 05 so far. regarding ratings, although issuers with credit rating of p2 of crisil or equivalent can raise resources through cp, in effect, the cp issuance is dominated by the prime - rated companies i. e., companies having credit rating of p1 + or its equivalent. even then, there has been some decline in the share of cps issued by prime - rated companies. during 2001 - 02, as much as about 93 per cent of cp amount issued were by prime - rated companies, which declined to 87 per cent during 2004 - 05 so far. correspondingly, the share of medium - rated companies increased from 7 per cent to 13 per cent over this period. this could be largely on account of search for higher return by investors in an environment of substantial improvement in liquidity in the economy. as you are aware, as a part of the eligibility criteria, the minimum tangible net worth of the corporate was reduced from the initial level of rs. 10 crore to rs. 4 crore in october 1993. however, corporates having tangible net worth of up to rs. 10 crore do not account for even 1 per cent of the total cp issuance. the market is, however, dominated by corporates having tangible net worth of rs. 50 crore and above, which accounted for more than 93 per cent of the total cp amount issued during 2002 - 03 and 2003 - 04. their share has, however, declined to 88 per cent during 2004 - 05 so far. in this backdrop, let me now turn to some of the recent steps taken by the reserve bank to strengthen the cp market. recent steps taken by rbi to further develop the market as you know, in order to further develop the cp market, we had placed a status paper on cp market in india on the rbi website