Mutual Fund KYC At Doorstep: Good news has come for those investing in mutual funds. Now you do not need to go anywhere for KYC – your KYC will be completed from sitting home. India Post has partnered with Nippon India Mutual Fund for door-to-door KYC service.
The objective of this initiative is to ensure the access of mutual funds to every city and village, so that more and more people can connect with investment and make the investment process simple and convenient.
The Union Ministry of Communications and Information Technology issued a press release and gave this information. The release said, “With the presence in the far-flung areas of the country, the unmatched arrival of India Post makes it an ideal partner for mutual fund companies, who want to expand their investors Aadhaar.”
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How will Dorster KYC service work? (Mutual Fund KYC At Doorstep)
Under this service, investors will have to download the KYC form from the website of KRA (KYC Registration Agency) or Asset Management Company (AMC) for KYC registration.
After filling the necessary information like name, address, PAN number and contact information in the form, it will have to be submitted to the concerned Kra, R&T agency, or AMC office. After this, in-Person Verification (IPV) will be done by visiting the applicant's house, so that the information given in the form can be confirmed.
What will be the benefits? (Mutual Fund KYC At Doorstep)
Under this initiative, the reach of mutual funds in rural and deprived areas will increase, so that more people will be able to connect with investment. Let us tell you that KYC i.e. “No Your Customer” process is mandatory for investing in mutual funds. Once KYC is updated from a fund house, its status is applied to all AMCs.
Increase in the number of investors (Mutual Fund KYC At Doorstep)
The number of investors in mutual funds is continuously increasing. Between November 2024 to January 2025, the Mutual Fund Industry added about 8 lakh new investors every month. Due to this, the total number of unique investors increased to 5.33 crores.
