General

What is KYC?

KYC stands for “Know Your Customer.” It is a mandatory process followed by financial institutions like banks, brokers, etc. to verify the identity and address of customers.

The main purpose of KYC is to ensure that financial systems are not misused for money laundering or terrorist financing and that the customer is genuine.

To open any financial account (like a bank, demat, or trading account), customers must complete the KYC process by submitting official identity and address proofs.

Accepted documents include:

a. PAN Card

b. Aadhaar Card

c. Passport

d. Driving License

e. Voter ID Card

f. Job Card issued by NREGA

These documents must be verified by the institution before activating the account.

KYC is an ongoing process — you may be asked to update your details periodically as per regulatory norms.

Failure to do so may lead to your account being temporarily frozen or deactivated.