Big Story | Unlock your investment plans from home

The Hindu Business Line | Aug 15, 2020 at 1:31 PM
  • The KYC process can be completed with the help of technological tools or platforms such as DigiLocker (for submitting valid original digital documents), Immediate Payment Service (IMPS – for penny-drop bank validation), Video In Person Verification (VIPV) and eSign (to digitally sign a document).
  • If you have a savings bank account in the bank in which you want to start an FD, opening an online FD account is easy, using net banking or mobile applications.
  • In a welcome development, the Reserve Bank of India in January updated the ‘Know your Customer (KYC) Direction, 2016’ to treat video-based customer identification process — audio-visual interaction with the customer to obtain identification information including the documents — as valid as the face-to-face verification process.