eKYC for India Post savings accounts soon
BENGALURU: In a relief to postal savings account holders across the country, India Post is set to launch electronic Know Your Customers (eKYC) next week. The move will benefit nearly 1.9 crore savings account holders in the Karnataka Postal Circle.
Chief Postmaster General (CPMG) of the Circle, Rajendra S Kumar told TNIE, “As per RBI guidelines, KYC documents need to be submitted every three years by account holders. Public need not carry originals of documents to post offices now.” Documents to confirm identify and proof of residence are required to complete the KYC process.
“KYC will be established through Aadhaar authentication on the Unique Identification Authority of India portal. This is only the first step towards taking the process completely online,” the CPMG explained.
As of now, the public still has to visit post offices to give their fingerprints (biometric verification). “We plan to incorporate this feature in our mobile app, so there is no need for customers to visit the post office,” he added.
After eKYC is in place, account holders can visit the India Post website: indiapost.gov.in, opt for the e-banking option, and use the login id to access it. The biggest advantage is that in future, people can open new postal accounts without carrying any original documents. “The postal department will confirm the credentials using Aadhaar authentication,” Kumar said.