KYC Policy

Last updated: 20 June 2026

IGoldcash is required by the Reserve Bank of India (RBI) guidelines and the Prevention of Money Laundering Act (PMLA) to collect Know Your Customer (KYC) documentation for certain gold purchase transactions. This policy explains exactly what documents you need to bring — and when.

Simple summary: for most everyday transactions (under ₹50,000), no documents are needed at all. Just bring your gold.

1. KYC requirements by transaction value

Transaction value	Document required	Accepted documents
Below ₹50,000	No document needed	—
₹50,000 to ₹1,99,999	Government-issued photo ID	Aadhaar Card, Passport, or Driver's License
₹2,00,000 and above	PAN Card (mandatory)	PAN Card required under Section 269ST of the Income Tax Act, 1961

2. Accepted identity documents

The following government-issued documents are accepted for KYC verification:

• Aadhaar Card — physical card or printed e-Aadhaar with a masked Aadhaar number is acceptable.
• Passport — valid Indian passport.
• Driver's License — issued by a Regional Transport Office (RTO) in India.
• Voter ID (EPIC card) — Election Commission of India identity card.
• PAN Card — mandatory for transactions above ₹2,00,000; accepted as supplementary ID for any transaction.

3. Why KYC is required

KYC requirements for gold buyers are mandated by:

• Prevention of Money Laundering Act (PMLA), 2002 — requires gold buyers to maintain records of high-value transactions.
• RBI Master Direction on KYC — applies to businesses handling high-value financial transactions.
• Income Tax Act, Section 269ST, 1961 — prohibits cash receipts above ₹2,00,000 without PAN; cash transactions above this threshold are not permitted by law.
• Section 206C of the Income Tax Act — tax collected at source (TCS) rules applicable to certain gold transactions.

4. How we handle your documents

• Your KYC documents are used only for transaction verification and regulatory compliance.
• We do not share your documents with third parties except as required by law.
• Document records are retained for a minimum of 5 years as required by PMLA.
• All records are stored securely. For more details, see our Privacy Policy.

5. Declaration required

By completing a transaction with IGoldcash, you declare that:

• You are the rightful owner of the gold being sold (or duly authorised by the owner).
• The identity documents provided are genuine and belong to you.
• The transaction proceeds will not be used for any illegal purpose.

6. Right to refuse

IGoldcash reserves the right to refuse any transaction where KYC requirements cannot be satisfied, where documents appear to be inauthentic, or where we have any other reasonable cause for concern under PMLA guidelines. In such cases, we are also required to report the attempted transaction to the relevant regulatory authorities.

7. Questions

If you have questions about KYC requirements before visiting our store, please call us at +91 9258344869 or email care@igoldcash.in. We are happy to advise you on what to bring for your specific transaction value.