Smart things to know about e-KYC

Here’s a brief look at everything you wanted to know about e-KYC:

1. E-KYC is an Aadhaar based KYC verification service launched by UIDAI.

2. Sebi has declared that e-KYC shall be a valid process for KYC verification at the time of mutual fund account opening.

3. Investor details and photograph maintained under UIDAI as a result of e-KYC process shall be treated as sufficient proof of identity and address of the investor.

4. E-KYC enables the investor to complete KYC process online, thus reducing the turnaround time and paperwork involved.

5. The investor is required to authorise the mutual fund to access his data through the UIDAI system.

6. The investor must scan and upload address, id proof, photograph and application form for carrying out e-KYC.

7. In-person verification is done using real time video based chat.