What is e-KYC? Those with Aadhaar card can use it, know the benefits

Aadhaar card is one of the most important documents. A biometric and demographic information is recorded in the Aadhaar being issued by the Unique Identification Authority of India (UIDAI). You can guess the importance of Aadhaar from this, that it is demanded from the admission of the child in school to all government schemes.

Keeping this importance of Aadhaar in mind, a cardholder should record the updated information in it. UIDAI provides e-KYC facility to Aadhaar card holders at home. E-KYC Full Form is an electronic Know Your Customer i.e. the process of knowing your customers electronically.

According to UIDAI, through this, the proof of the cardholder’s ID proof, address and other details are authenticated electronically. Electronic address or e-KYC is the method of resident authentication used by an organization like banks. Aadhaar allows residents to present it electronically as an address, valid as a Xerox copy of the Aadhaar card.

What are its benefits of : Through e-KY, paperwork is completely eliminated. This allows transparency in the entire process. Customers do not have to share photo copies of their documents. This eliminates the possibilities of theft and fraud. While physical KYC takes 5-7 days, e-KYC takes only a few minutes.

(With inputs from jansatta.com)