kyc ka full formThe full form of KYC is Know Your Customer. It is mostly used in banking. You must have heard the name of KYC somewhere, but do you know the meaning of KYC, if not then you have come to the right article.
The full form of KYC is know your customer i.e. know your customer. It is mostly used in bank work. It contains all the information of the customer.
To get KYC done, you have to fill a form. Through which the bank understands all your information. This scheme was launched by RBI. KYC tells you the identity of the customer.
Every bank account holder is required to do KYC. With its help, it becomes very easy to identify the customer. This scheme was introduced so that the customer could not be stolen or cheated.
Whenever you open a new bank account, only then you have to fill the KYC form. With the help of this, you create a personal account, these days KYC has become mandatory for opening a bank account.
Nowadays all the banks and financial institutions are making KYC mandatory for all their customers.
Why is KYC necessary?
You have already learned its use, KYC protects you from frauds of online transactions. If you want to make digital payment then you need to get KYC done.
You can use Google Pay, Paytm, Phone Pay and other payment applications for digital payment. By getting KYC done, the address of the customer and all his information is known.
KYC has now become mandatory in all banks and other payment apps so that the customer can do online transactions safely.
What are the documents required for KYC?
There are many options for you to do KYC, you have to do it by going to your bank. For which you need some documents.
Documents required for doing KYC:
Date of birth
source of income
With this, you have to give a photo of yourself and Aadhar card. After taking all the documents, you have to submit it to the bank.
How to do KYC online?
Like we told you earlier that KYC verification is very important. You can easily do KYC sitting at home, you can open your bank account online and apply loan with it.
To do online KYC, you need International ID Proof. If seen in today’s time, Aadhar card is used in many places, it can also be used as an address proof to you.
Aadhar card is issued by the Government of India. If you want to do online KYC, then you can get KYC done by giving only and only Aadhar card.
You can get KYC done through Aadhar card in two ways: OTP and Biometrics. When you want to get OTP Verification done then you have to enter Aadhar card
After this you get OTP on your mobile number or email. The second option is Biometrics, in which you need fingerprint.
Some questions related to KYC: FAQs related to KYC
What are the documents required to do KYC of Paytm?
For this you need aadhar card, pan card and mobile number.
How many days does it take to verify KYC?
Sometimes it takes very less time to do KYC verification. Sometimes you have to wait 7 to 8 days for it to be complete.
Today we have seen what is the meaning of KYC, what is its full form. Where is it used?
If anyone tries to steal in future, he will be caught. Because KYC contains the information of each customer.
Hope you have liked our article, in this we have told very simple words, what is KYC and its use is called.
What documents do you need and need for this. If you liked this article, then do share it with your friends and family.