KYC is a term familiar to everyone who deals with financial accounts in some form or other. Whether it is setting up a new bank account for yourself or getting a new SIM card, you have surely come across this mandatory procedure.
For the unversed, KYC stands for Know Your Customer or Know Your Client.
In the present digital age when almost every aspect of our life is digitally connected, the process of KYC isn’t left behind. The Department of Telecommunication, India has now made possibilities for e-KYC. If you want to apply for a new SIM card, you can get it done paperless with an e-KYC.
Buying a new SIM? It's now all paperless with e-KYC! 🧵
5 points we all should know – pic.twitter.com/do9sftRQ6o
— DoT India (@DoT_India) September 13, 2024
Now, let’s go through how options like e-KYC help you to get a SIM connection effortlessly.
KYC is one of the primary telecom reforms and with options of e-KYC and Self-KYC, streamlining of mobile connections is pretty easy. On the other hand, if you want to switch from a prepaid plan to a postpaid, you can easily do it through OTP-based conversion.
e-KYC: Along with Self-KYC and OTP-based prepaid/postpaid conversion, KYC reforms also provide you the option of Aadhaar-based e-KYC. It is a paperless process where telecommunication companies verify your details from your Aadhaar for the price of Rs 1(incl. GST).
Self-KYC: When it comes to Self-KYC, you can choose to complete your KYC online with your Aadhaar. The process will verify your identity and DigiLocker. It authenticates your document and consequently, you can get your new SIM card.
OTP-based conversion: When you want to switch from a prepaid plan to a postpaid plan, you can use OTP authentication. This allows you to ensure that your data is not misused and the switch is done by you.
