Aadhaar Card Kyc

Many times when you need a new connection of mobile phone or open a bank account or apply for LPG connection, it is necessary to submit your basic personal details. This needs to be verified by the service provider and then your application is processed. But if you have an Aadhaar Card which is KYC verified, the application process becomes easier and faster. When an Aadhaar Card is submitted as an Identity Proof, there is no need to submit any more documents for verification. Aadhaar Card in itself is a verified and legal document. The submission of Aadhaar Card for KYC has to be done in every case at every centre.

One can make the above process easier by using E-KYC. Here, you can submit KYC details online and the service provider checks it against the Aadhaar details through UIDAI. This makes the entire process shorter and more convenient. Digitisation of these processes has made life easier, faster and more authentic due to the presence of validated data.

E-KYC is a valid document as the regular KYC. Aadhaar E-KYC makes it very convenient to submit your details to any service provider for faster processing.

How can you complete the Aadhaar KYC process?

There are three ways of doing this:

• You need to be physically present at the time of E-KYC
• E-KYC can be completed online with the help of OTP.
• E-KYC can be completed online through biometrics.

Once the process is completed, the verification details are sent to the service provider directly. It is important to note here that E-KYC has the same legality as any other physical document. The digitisation initiative taken by the Government ensures that tampering or fraudulent documents are reduced to a great extent.

Aadhaar Card based KYC has received much acceptance due to the ease and less time taken in the process. Some of the benefits of Aadhaar E-KYC are:

• Aadhaar E-KYC is compliant with Government guidelines. Hence, making it very trustworthy.
• E-KYC is a paperless process. This makes the entire process environmentally friendly and faster.
• There is minimal risk in document forgery due to digitisation of data.
• E-KYC can be done only with the consent of the individual. Hence, there are less chances of fraud.
• The verifications get done instantly and on a real-time basis.
• E-KYC is less expensive than the regular paper-based verification.
• Privacy of date is guaranteed as the verification is done through the crypted network of UIDAI.

The basic first step for getting your E-KYC done is by having your Aadhaar Card. Once your Aadhaar Card is received, the following steps can be noted:

• Log onto the official website of UIDAI
• Download the Aadhaar Paperless Offline E-KYC form.
• Complete the form and submit it.
• The required information will be available in XML format for downloading. This document will be digitally signed by UIDAI, this verifying the details.

Today, many service providers rely on the Aadhaar E-KYC method to verify details of their customers. Some of the service providers using this facility are:

• Financial institutions like banks, mutual fund houses, insurance companies etc.
• Trading Accounts
• LPG service providers
• Stock Brokers
• Railways
• Stock Exchanges
• KYC Registration agencies

E-KYC has made the process of verification very simple and quicker. Individuals can choose to exercise the option of using E-KYC. They can authorise UIDAI to disclose their personal data to a particular service provider. This process is carried out in a very secure manner through OTP or Biometric authentication. Once this process is completed, personal data such as name, date of birth, gender, address, mobile number, email address etc. are shared with the service provider digitally.

The E-KYC is a huge step towards digitisation in our country. The paperless method has gained much acceptance across different sections in the society. People are convinced of the utility of this process and hence, look forward to using it as much as possible. The benefits of having an Aadhaar card is quite transparent with such digitisation measures. This makes life easier not only for the service provider but also for the individual. With the E-KYC document being treated equally as a legal paper document, the advantages of an electronic process cannot be contested. Paperless processes are much faster and make life easier. One can easily conclude that E-KYC has had a positive effect on the Aadhaar Card process and will continue to garner prominence in our daily lives.