KYC Full Form
You must have heard the word KYC, this word is mostly used in banks, mobiles and government institutions. Banks and mobile companies bind your services in the absence of KYC, when you fill KYC correctly and submit, your services are resumed. If you do not know about KYC, then on this page information about KYC Full Form, the full form of KYC, केवाईसी क्या हैं KYC क्यों करवाना चाहिए, KYC Documents, KYC Full Form in Banking and what is the meaning of KYC is being given.
KYC Full Form
KYC Full Form in Hindi
“अपने ग्राहक को जानें ”
KYC Full Form in English
“Know Your Customer”
केवाईसी क्या हैं KYC क्यों करवाना चाहिए ?
केवाईसी वह प्रक्रिया है जिसके तहत वित्तीय संस्थान अपने ग्राहक की पहचान और पते के प्रमाण को सत्यापित करते हैं। पहचान के प्रमाण और पते के प्रमाण के लिए कई अलग-अलग प्रकार के कागज होते हैं, जैसे आधार कार्ड, पैन कार्ड, वोटर आईडी कार्ड, ड्राइविंग लाइसेंस आदि। आप इनमें से कोई भी दो दस्तावेज देकर अपना केवाईसी पूरा कर सकते हैं
केवाईसी बैंक या अन्य वित्तीय संस्थानों और ग्राहक दोनों के लिए बहुत महत्वपूर्ण है, क्योंकि केवाईसी के दौरान आवश्यक कदम उठाए गए थे ताकि यह सुनिश्चित हो सके कि ग्राहक वास्तविक है, और कोई जोखिम नहीं है। केवाईसी प्रक्रिया के तहत किसी भी व्यक्ति का आईडी कार्ड वेरिफिकेशन, डॉक्यूमेंट वेरिफिकेशन और फेस वेरिफिकेशन किया जाता है, जिससे ग्राहक और उसके द्वारा दी गई जानकारी को प्रमाणित किया जाता है।
केवाईसी के कारण आज बैंकिंग प्रक्रिया बहुत सुरक्षित हो गई है, और आरबीआई ने सभी बैंकों के लिए यह आवश्यक कर दिया है कि वे अपने ग्राहकों को नियमित आधार पर केवाईसी पर अपडेट करते रहें। कई मामलों में जब बैंक ने ग्राहकों के केवाईसी को अपडेट नहीं किया, तो आरबीआई द्वारा उन पर भारी जुर्माना लगाया गया।
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Know About KYC
KYC is necessary as it helps the banker to ensure that the request and other details are genuine. There were instances of theft and swindling of account funds. This will help prevent fraud by maintaining the identity of the individuals. Know The Consumer approach has been in vogue for the past several years. If they decide to open an account it is a must and should be accepted by all individuals. It is not easy to open a bank account or mutual fund account without KYC compliance.
KYC includes the following details:
- Customer Name
- Date of Birth
- Father’s Name
- Mother’s Name
- Marital Status
- Address Proof
- Identity Proof
- Contact No.
- PAN Card
- Source of the Funds
KYC Documents required for Individuals
- Voter’s Identity Card
- Driving Licence
- Aadhaar Card
- NREGA Card
- PAN Card
- You are required to submit any one or two of the above documents as an identity proof and address proof.
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KYC Documents required for Companies/Partnership Firms
- Entity Proof
- Address Proof of company
- Address and Identity proof of Directors and Authorized signatories
Why is KYC necessary?
It has been ensured by the RBI and the Ministry of Finance of the Government of India that when seeking KYC in banks and financial institutions, the customer will have to give all the KYC related information to them. KYC has been considered necessary by the bank and financial institution because the customer’s personal information and residence address information is obtained by KYC, so the customer who gives wrong information can face fine and severe punishment. With KYC, the relationship between the customer and the bank becomes transparent and in case of fraud, the bank can easily take action against the person with the help of KYC.
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Types of KYC
There are two types of KYC which are EKYC and CKYC
Its full name is Electronic know your customer. EKYC is a paperless KYC process that tells about the customer digitally or rather online.
- CKYC :-
Its full name is Central know your customer. By the way, KYC is done in almost all the banks of India, whether it is a private bank or a government bank, but the one whose KYC is done at the central level is called CKYC.
Where is KYC Required?
Where KYC is required, apart from opening an account in the bank, you may need to fill KYC form for taking loan, buying mutual fund, getting credit card, taking locker, post office RD and insurance etc. If we talk about the guidelines of RBI, then in today’s time it is mandatory to fill KYC form to do bank transactions and to open an account in the bank. If you do not fill this form then the bank can also refuse you to open the account.
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Following are the advantages of KYC-:
- KYC establishes a transparent relationship between the bank and the customer.
- The bank gets the correct information of the customer and if he commits any kind of fraud, the bank has the right to take action against him.
- Through KYC, customers do not have to stand in long lines for transactions and they can send and receive money from their account to another account using digital payment platform like Google pay, phone pay.
- For providing any facility the bank can obtain customer information only through KYC as the key document attached during KYC increases the chances of getting the correct information.
- One can do online shopping by completing KYC through online shopping platforms like Flipkart and Amazon and can also pay for their products online through Google pay, phone pay.
- To get the main schemes run by the government, only by visiting the financial institution of your village, filling the KYC form and submitting the benefits of the schemes can be taken.
- With the introduction of KYC process, there has been a reduction in cases like problems arising out of wrong information provided by the customer to the bank or to the financial institution, etc.
- All the information is captured in one go through KYC form only. This saves a lot of time and multiple tasks can be completed and convenience can be achieved with a single document.
In this article, I have provided you the information related to KYC Full Form in simple words. I hope KYC ka full form, KYC Ka Matlab Kya Hai, KYC Full Form Hindi, KYC Ka Full Form, KYC का फुल फॉर्म, KYC Long Form In Marathi, KYC Full Name, KYC Ka Full Form Kya Hai, KYC Long Form, KYC Means, KYC Ka Matlab, you must have understood why it is important. If you have any question related to this post in your mind then you can ask.
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