New Delhi : If you are also thinking about investing in mutual funds, then you can open your bank account or demat account. A simple investment of only 500 rupees a month can also start saving money in the museum funds, although it also includes the risk to the market. In such a situation, you can complete KYC process while sitting at home to invest in mutual funds. You can follow this process to complete this.

Some mutual fund companies have tied up with the Indian Post Office to complete their customers' KYC. It also includes Nippon India, one of the country's largest mutual funds.

How will the system work?

Under this partnership, Indian Post Office can provide door to door verification facility to customers. A goal of this is also to make more and more people aware to invest in mutual funds. The Ministry of Communications of the government has recently announced this partnership. The Indian Postal Department has access to remote areas of the country at present. In such a situation, the Indian post office handles KYC on a very large scale.

What is KYC?

Under the Prevention of Money Laundering Act 2002, the market regulator regulates SEBI capital market. Through KYC, information about mutual funds and those who invest in it reach SEBI. KYC means no your customer i.e. know your customer, it is verified by many customer documents like Aadhaar card, PAN card and their full address. If a customer wants to invest into a mutual fund, it is necessary to do KYC.

KYC will be complete sitting at home

The Mutual Fund House is responsible for completing KYC of investors sitting at home. However, for this, customers have to apply. For this, door to door facility has to be provided. This facility can be especially beneficial for the elderly.

Click here to read other business news news

The Ministry of Communications says that this can help the common people in the country increase investment. This can be very important in terms of financial inclusion. This door 2 KYC service of the Indian Post Office can take advantage of the people living in rural and remote areas. Through this, she can take advantage of it by investing in the mutual fund market.

Step by step process

To take advantage of this facility, you have to register.
This can be done on the site of KYC app or mutual fund company.
In this, you have to fill your information like name, address, citizenship, PAN number, Aadhaar number, email ID etc.
The form has to be submitted a self-atasted copy of the documents with the form.
After this, KYC process is completed by sending an agent or government official to your house.