New Delhi: To enhance investor convenience and streamline the Mutual Fund industry’s onboarding process, the Department of Posts (DoP) has signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to provide door-to-door KYC verification services. This collaboration aims to ensure a seamless, secure, and compliant Know Your Customer (KYC) process for investors across India.
The MoU was signed between Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Sundeep Sikka, Executive Director & Chief Executive Officer of Nippon Life India Asset Management Ltd.
India Post’s extensive reach, spanning even the remotest corners of the country, makes it an ideal partner for mutual fund companies seeking to expand their investor base. Having successfully conducted over five lakh KYC verifications for UTI and SUUTI in a short span, India Post has demonstrated its ability to manage large-scale operations with efficiency and security.
The newly introduced door-to-door KYC service will provide unparalleled convenience, particularly for elderly investors and individuals facing mobility challenges. This initiative aligns with the Government of India’s ‘Jan Nivesh’ program, which aims to promote financial inclusion and make investment opportunities more accessible to the masses.
By bringing KYC verification services directly to investors’ doorsteps, India Post is breaking barriers to financial accessibility, especially for those in rural and underserved areas. This initiative ensures that a broader segment of the population can participate in the growing mutual fund market, empowering them to make informed investment decisions and secure their financial future.
