1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 2 terms

Officially Valid Document

Regulation & tax

Also called: OVD

A document accepted as proof of identity or address under the anti-money-laundering rules — Aadhaar, passport, driving licence and voter ID among them.

In plain terms

Which one you used decides which KYC bucket you land in. Aadhaar is the one that lets the record be validated against the tax database; the others leave it merely registered, which becomes visible on the day you open an account somewhere new.

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Validated KYC

Regulation & tax

A KYC status in which the record has been verified against the issuing source, with Aadhaar used as the officially valid document for address.

In plain terms

The portable one: a new intermediary can rely on it without fresh KYC. A record built years ago on a passport or a voter ID was perfectly compliant when it was made and simply cannot reach this bucket now.

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