Question
Which of the following documents is NOT accepted as
valid proof for opening a current account by a sole proprietor?Solution
As per RBI KYC Directions for opening accounts of sole proprietorship firms, documents like ITR, Udyam, GST, and local authority certificates are accepted. Utility bills (e.g., electricity/gas) are not considered primary evidence of business existence, though they may be accepted only as supplementary for address proof — not for business validation.
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