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Aadhar Card is playing a key role in KYC Verification Process

 

Aadhar as KYC and e-KYC

Many government and private institutions asks residents of India to provide their identity and address proof before providing them their services basically is the culture in banking and financial institutions. This customer verification process is known as KYC – Know your customer. This formality is being taking place to avoid the fallacious activity to misuse some other’s account and rights.

The KYC is getting compulsory in almost all the service provider sector and is also needed for the agency benefits and customer welfare. The documents required for KYC formalities are photo identity and address proof issued by government organization.

 

UIDAI issues aadhar card to the Indian residents after verifying their biometric and demographic details. The biographic details have been taken from the applicants on the aadhar card centers while demographic details being verified by the documents collected from the customer at the time of applying for aadhar card and also getting verified physically as well if required.

 

After checking the facts completely and findings the details genuine provided by the applicant, UIDAI issues aadhar card to the resident which usually takes 40 days around. Now the aadhar card holder can use aadhar as his/her identity and address proof in any agency, as it is acceptable by each and every government and non-government and is the most relevant document for KYC.

 

e-KYC Service from UIDAI

e-KYC service is also launched by Unique Identification authority of India to avoid document falsification, identity scam and helps to initiate paperless KYC formalities. UIDAI provides the demographic details along with the photograph to complete the KYC verification process, the details provided under e-KYC verification is in electronic form basically contains the customer name, address, photograph, age and gender. The e-KYC data provided by UIDAI is also relevant for KYC formalities same as the aadhar card.

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In respect of banking, for the Bank account opening or to avail any other services of bank, the customer can directly walk-in to the bank branch with the aadhar card number of 12 digits and can ask to open the account grounded on e-KYC. The Demographic details and photograph of customer can be easily seen by the bank branches on their system. 

 

Benefits of e-KYC

It sometimes happen that we forget to carry either our identity proof or our address proof on the agencies at the time of filling up the forms to open some kind of account or to avail some services. We also not keep the copy of passport size photographs with us due to which we face the issues like incomplete documents out of the documents required to apply for any service in the government and private institutions.

The e-KYC facility gives you wings to overcome from the kind of difficulties you face in your routine life. As the e-KYC data is provided by UIDAI, so it authentic as well as relevant for any king of address and identity verification and is acceptable by every agencies belong to India.

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Aadhar Card Status

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