What is the difference between e KYC and KYC?

KYC is done with the purpose of establishing the identity and verifying the credentials of any customer. The eKYC process, often called paperless KYC, is the process of electronically verifying the credentials of a customer.

What is eKYC in Paytm?

Why KYC itself is a in person process. Why can’t I do it on Paytm app? KYC requires Address proof of customer. However if no mobile is linked to your Aadhaar a Paytm agent will need to do in-person verification of your Aadhaar or any other Govt id to do with KYC.

Can we use e pan KYC Paytm?

You may also tap on the ‘Nearby’ icon on the blue strip at the top of Paytm App Home page. You need to carry your Aadhaar and PAN* for verification. You will need to provide your PAN* and any ONE of the below Govt. issued Address Proof documents in original: Driving License / Voter ID / Passport / NREGA Job Card.

What is digital e KYC?

Digital KYC will involve capturing the live photo of the customer and officially valid documents or proof of possession of Aadhaar where offline verification cannot be carried out, along with latitude and longitude of the location where such live photo is being taken by an authorised officer of the bank.

Is eKYC allowed?

RBI’s initiative will help in improving trust levels among customers because only licensed entities will be permitted to conduct eKYC, said Ankit Bhatnagar, Head of Product, Mswipe. Commenting on the RBI’s decision, Gurjodhpal Singh, CEO, Tide (India), said it is a welcome move for the fintech ecosystem.

Is eKYC mandatory for bank account?

Banking customers: Before the Supreme Court judgment on Aadhaar in September 2018, banks were using Aadhaar eKYC to open instant bank accounts through apps and websites. Since Aadhaar was allowed, many banks and other RBI-regulated entities made eKYC mandatory then.

How do I know my e-KYC number?

Step 1: Go to the official website of any KYC Registration Agency (KRA). Step 2: Enter the details of your Permanent Account Number (PAN). You will immediately get to know if you are KYC compliant. In case you are not, you can complete the procedure for the same via Aadhaar-based biometric.