What is KYC , What is E-KYC, How to do KYC

What is KYC  – 

What is KYC , What is E-KYC, How to do KYC

We call KYC to know your customers in the English language and in the Hindi language, it means to identify your customers. KYC has become our most important need today.

Today, KYC has become very important for our people to complete any work related to finance. So in simple words, we can say that when we verify our identity in any institution or any other place, we call it KYC.

Where do we use KYC – 

Banks and our financial companies today use a KYC name form such as –

You have to open an account with a bank, make a fixed deposit (FD), get life insurance, or you can invest money in online mutual funds, bank lockers, all other processes like investing in gold, bank or company The employees ask the customer for their KYC or the bank asks us to do KYC. Apart from this, when we want to get a new SIM card, we have to verify our Aadhaar card for our identity, this process is also known as KYC.

When our bank account becomes dormant or is closed due to any reason, the bank also asks for KYC first from us in the process of reviving it. Today it has become mandatory for our (RBI) Reserve Bank of India to fill the KYC form with customers for their own safety.

Importance of KYC –

KYC has an important place in financial institutions and in our banks today, on the basis of which the identity of the person living in a society is ascertained and the completion of this process protects both the company or the bank from any kind of fraud. can go.

KYC Application Form –

Although KYC forms vary from institution to bank in all institutions, there are some commonalities among all such as-
  • 1. In the KYC form, we have to attach a passport size photo of us.
  • 2. The account number related to your bank has to be filled.
  • 3. The customer has to fill his and his father’s name.
  • 4. You have to fill your phone number and mobile number whatever you are currently using.
  • 5. The customer has to fill his date of birth.
  • 6. The customer has to fill his pen card number.
  • 7, The customer has to enter his home address which is given in the Aadhaar card.
  • 8. If you use an email id, then it has to be written in the form.
  • 9. And you are putting which ID with this form or you have to tell in this form or you should put a symbol.
  • 10. And the customer has to sign in the end.
  • 11. In this way, we complete the work of our KYC and submit it to the officer of the bank.

Documents required for KYC –

In this, you can put the customer’s id like Aadhar card, Voter card, driving license, passport, etc. Although the Pan card is also your identity card, you do not have a fixed address, but all of them have your home address. 
Recently passport size photograph of the customer is required, all these documents are called your KYC.

KYC is required to invest in Mutual Fund –

If we want to invest in Mutual Fund, then we want to do this process online, then we have to first go to Google and type KYC Mutual Fund form, then you will get a form that you will have to fill and in that you will have to give one of your Complete proof of the address proof ID has to be verified which is verified by the central government, then you can submit it to your nearest distributor. This is a simple process.

What is KYC , What is E-KYC, How to do KYC

What is C-KYC –

We call it Central KYC which was passed by our Government of India in July 2015 and was implemented on 1 February 2017. It also gives us some benefits like if you have taken any life insurance and have given it to them by filling your CKYC, then you will get a which a number of 14 and whenever you want to open an account in your bank or you are a mutual fund. If you want to invest in money, then you only have to fill that number in that form and thus you will be saved from the process of not submitting KYC from Dowra. Sit stores.

What is E-KYC –

EKYC operates on the basis of an OTP pin. You can also do this by visiting the CAMS site. For this, you have to first go to Google and write CAMS eKYC, then some links will come in front of you, out of which you have to open the link with CAMS eKYC, in this, you have to remember some things, SEBI REGULATORY BODY has restricted a sum in it. Which is – only 50000 amount on each Mutual Fund in 1 year. If any person wants to invest more than this in Mutual Fund, then he has to follow some rules, for this, you have to go to any POA or CAMS and complete this work.

There are some apps in which we can get some advantages by using KYC :-

Method of online KYC in PayTm

1. Be the first to download your PayTm.
2. Then open PayTm in your phone and sign in this app.
3. Now select the KYC icon.
4. Then you select process next.
5. After this, you have to fill your Aadhaar card number of 12 numbers.
6. After that, you have to select that box to agree to all the rules and laws given in PayTm.
7. Then you have to verify the OTP number in it.
8. After this, in one of its forms, you will have to fill your mother and father’s name, your date of birth and other information.
9. And the submit button.
10. In the end, you will be given a notice that your process was successful, which means your KYC has been registered in PayTm.

Use of KYC in PayTm –

If we do not put KYC in PayTm, then you can use only 20,000 amount in a month in your PayTm account but if you put your KYC in PayTm then you become an important customer and at least we can use or keep up to 1,00000 rupees

If you have not put your KYC in PayTm, then you will have to pay a 2 percent amount to PayTm company while adding money to another account and if you have added KYC to PayTm then you will not have to pay any amount.

Benefits of KYC in PayTm – 

If you take tickets for 2 movies, you get up to 100 rupees, if you book an air ticket, you can get up to 500 rupees. If you make any online purchase above 800, you can get up to 200 rupees, but you get all this money in the form of a code which we know as Promo code.

Conclusion – I hope you have learned about KYC in brief if still, you have any confusion so you can easily mention your queries in below comment box. If you like this post then don’t forget to share it with everyone


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