India Post launches KYC verification for mutual funds at your doorstep
New Delhi, Apr 7, 2025
KYC compliance is mandatory for investing in mutual funds. Without completing this process, investors cannot participate in mutual fund schemes offered by any fund house
India Post has signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to provide door-to-door KYC verification services. This partnership supports the government’s Jan Nivesh initiative and aims to make investing in mutual funds accessible to a broader segment of the population, particularly those in remote and underserved areas.
“India Post's unparalleled reach, with a presence in even the remotest corners of the country, sets it apart as an ideal partner for mutual fund companies seeking to expand their investor base,” according to a release from the Ministry of Communication on April 3.
KYC compliance is mandatory for investing in mutual funds. Without completing this process, investors cannot participate in mutual fund schemes offered by any fund house. Once updated at one mutual fund house, KYC information is automatically reflected across all fund houses where investments are made.
Due to India Post's extensive network across the country, it has become an ideal partner for mutual fund companies seeking to reach potential investors in even the remotest corners of India.
Benefits of doorstep KYC verification
Accessibility: It enables individuals in rural areas and those with mobility issues to complete their KYC process without traveling.
Convenience: Investors can complete mandatory compliance requirements from the comfort of their homes.
Financial inclusion: By bringing financial services closer to underserved populations, India Post is helping more people participate in India's growing mutual fund market.
Efficiency: The streamlined process reduces delays and confusion often associated with traditional KYC methods.
How the doorstep KYC service works
To register for KYC through this service, individuals can download the KYC form from a KRA (KYC Registration Agency) or an Asset Management Company's (AMC) website.
After filling out the form with personal details such as name, address, PAN number, and contact information, applicants must attach self-attested proofs and submit them to the appropriate office (KRA, R&T, or AMC office).
In-person verification is then conducted at the applicant's doorstep to confirm their details.
It may take a week for your account to reflect the updated KYC information for mutual fund investments.
[The Business Standard]
