UTI Mutual Fund to use biometric verification
08 December 2017 13:56 GMT

India's UTI Mutual Fund has introduced Aadhaar based e-KYC using biometric verification validated through UIDAI. The company aims to provide investors a seamless and paperless experience in completing the KYC registration through this simplified process. 

According to a press release by the company, all the 150 UTI branches have been equipped with the biometric devices which have been procured from vendors registered with UIDAI. 

Suraj Kaeley, Group President-Sales & Marketing, UTI AMC said, "Now any non-KYC compliant customer can complete the KYC process through biometric verification without producing any documents such as photograph, Id proof, address proof. Only PAN and Aadhaar number details will be required. Another advantage of using biometric verification is that the investor will be able to invest any amount without any monetary limit in any of the UTI schemes unlike OTP based KYC which has investment limit  ..