All You Need To Know About KYC And E-KYC Verification Online. - Loan Trivia

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Wednesday, 20 April 2022

All You Need To Know About KYC And E-KYC Verification Online.

 


First-time investors are able to register for Aadhaar-based e-KYC if their Aadhaar number is linked to their Aadhaar numbers. This is a completely paperless and electronic service.

e-KYC and KYC: Differences

An example of a Know Your Client (KYC) process is when a service provider verifies your identity using documents such as your Aadhaar Card to verify your status as a client. 


An electronic model of KYC verification or authentication aids document verification. AKA e-KYC is simply an electronic authentication process that does not require physical documentation.


Now that e-KYC has been introduced, you can easily submit your documentation. In fact, e-KYC based on Aadhaar is as effective as a Xerox photocopy of your Aadhaar card for authentication.

e-KYC services based on Aadhaar are available to whom?

Mutual fund investors without KYC verification compliance who possess a valid Aadhaar number can take advantage of this service.

Eligibility

In order to participate in the e-KYC verification online, you must have both a registered Aadhaar card and the associated mobile number. Every Indian resident does have an Adhaar card. Aadhaar and e-KYC are only available once you fulfill these basic eligibility requirements.

In order to become KYC compliant with Aadhaar, what steps are involved?

Through e-KYC, physical papers and in-person verification aren’t required, enabling you to open a Demat and Trading Account online while completing your e-KYC verification online.  

  1. Enter your basic profile information
  2. Fill in your PAN, Aadhaar number, date of birth, valid email address, and mobile number (must be the one on your Aadhaar card).
  3. Select the checkbox for generating OTP, enter the OTP received on your mobile number in the corresponding field, and click Next.


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