KYC is also called "Know your Customer" and is an essential process carried out by India's banks and other financial institutes. KYC documentation may include different identities such as the Aadhaar card, Permanent Account Number, and also other residential proofs.
Other essential documents are submitted in the process by the customer in the banks, which enables them to know their customer and further help them out with their unique plans accordingly.
Why is KYC so Important?
These days you cannot communicate and open a savings or current account with the national banks if you don't have your KYC done.
These days, the world is dependent on technology and the virtual world of the internet for most of the work. Even banking has become very easy with the advancement in technology. With the development of e-KYC verification online banking methods, things have become very easy.
The benefits of e-KYC
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Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.