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In a new partnership with the Department of Posts (DoP), SBI MF has signed a Memorandum of Understanding (MoU) to use India Post's network to provide doorstep KYC verification services for investors.
Earlier this month, Nippon Mutual fund had also signed up a partnership with India Post for doorstep KYC.
According to a press release by the press information bureau (PIB), the partnership should help with investor convenience, security and regulatory compliance, especially in rural and underserved areas with limited access to other financial services. The aim is also to help senior citizens and individuals with mobility challenges.
The MoU was signed between Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Munish Sabharwal, Senior Vice President, SBI Funds Management.
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