TIL Desk/Business/New Delhi/ The recent amendments to anti-money laundering rules allowing voluntary use of Aadhaar for the opening of bank accounts and the modalities of digital KYC for cases where verification is done using other documents like voter ID and driving licence will make the process secure and convenient for users, UIDAI CEO said on Wednesday.
The government, last week, had notified amendments to the Prevention of Money-Laundering (Maintenance of Records) rules to allow voluntary use of the biometric identifier for opening of bank accounts, and had also spelt out the detailed procedure for ‘digital KYC’ to be performed in case of verification done via documents like voter ID and driving licence.
The notification now paves the way for use of various verification mechanisms — Aadhaar eKYC where Aadhaar documents are given voluntarily, offline verification and Digital KYC (Know Your Customer) for opening bank accounts. The same procedure will also be applicable for investment in mutual funds and opening of Demat accounts.
