What is KYC, what is the full form of KYC
Hello friends friends, today we will know what is KYC and what is the full name of KYC, in this article we will discuss about what is KYC. Because you have often heard the word KYC in many places, like if you use the app of any online payment app like Paytm comes on Google, then KYC comes in it. Similarly, you will get to hear KYC in many online payment methods.
What is the full form of KYC - Getting KYC done has become mandatory in every online process nowadays. And it is almost impossible to have any financial institution or government work without Kyc. And if you have come to this post, then definitely you have to get information about KYC.
do you know? What is KYC and what is the Full Form of KYC. Why is it necessary for us to get KYC done? If you don't know. So you can get all this information by reading this post completely.
And nowadays the need of KYC is read everywhere. For example, in order to open an account in a bank, buy mutual funds, invest in gold, buy a locker, buy a new SIM card and even nowadays you need to get KYC done on apps like PayTM and Freecharge.
What is KYC? What is the full form of KYC?
KYC is a process used by a bank or financial institution to verify the identity of its customers. This process is very important for any government office, bank or any financial institution.
The full form of Kyc is – “Know Your Customers”. And its full name in Hindi (kyc full form in hindi) means "Know your customer". Which means (kyc means in Hindi) to verify the identity of the customer (eg - name, address, address).
And this process establishes a relationship between a customer and a businessman. With which any trader or businessman can know about his customer.
What is KYC? And after knowing the full form of KYC, a question must have come in your mind that why it is necessary to get this KYC done.
Even if it seems like an old process to you. But in today's time it has become very important and necessary. So let's know a little more about this
Why KYC is necessary?
Any bank, company or financial institution gets KYC done to avoid any kind of fraud with them. So that if a customer does any fraud with them, they can easily reach it.
Like for example – in PAYTM when the requirement of KYC was not read. And could create Paytm account only with his mobile number. So when someone was cheated, it was very difficult to reach the real culprit.
But nowadays due to the process of KYC it is not so difficult to reach the culprit. Because when we get KYC done. Due to which all our information (eg- name, father's name, address) goes to that company.
And in case of fraud by us or any customer, the company easily reaches the company through this medium.
Documents required to get KYC done (KYC Documents List)
Now we will talk about the KYC Documents List. I mean that now we will know about those documents which we can use to get our kyc done. Official valid kyc documents-
• Aadhar Card
• Passport
• Pan Card
• driving license
• NREGA Card
• Voter ID Card
PAN card is the only such document in the Kyc documents list given above. In which your address information is not given. But we can use it as kyc documents. Because it is linked to our Aadhaar and contains all the information.
Friends, we hope that you have understood the above KYC information very well because we write the words accurately and simply in each of our posts. If you like this information, then it is a very good thing, if you want to know more such information, then you can take a full tour of our website, in which you will get a lot of information, as well as if you like this information, then you can share it. You can also share on social media so that those who know you can also get these information from your friends.
