UTI Mutual Fund has introduced Aadhaar based e-KYC using biometric verification to provide investors a paper less experience in completing the KYC registration process.
Suraj Kaeley, Group President-Sales & Marketing, UTI AMC said, “Now any non-KYC compliant customer can complete the KYC process through biometric verification without producing any documents such as photograph, Id proof, address proof. Only PAN and Aadhaar number details will be required.”
“Another advantage of using biometric verification is that the investor will be able to invest any amount without any monetary limit in any of the UTI schemes unlike OTP based KYC which has investment limit of Rs.50000/- per financial year. The Biometric facility provided by UTI has made the KYC process very simple for investors,” added Suraj.
The fund house said that all the 150 UTI branches have been equipped with biometric devices.
Currently, a few fund house provide Aadhaar based e-KYC facilities to their investors.
