The postal division has now larger its base-based e-KYC biometric authentication facility. Now it has additionally been applied in routine deposits (Routine Deposit – RD) and Public Provident Fund (PPF) schemes. Previous this virtual facility used to be restricted to a couple small financial savings schemes like per month source of revenue scheme (MIS), Time Deposit (TD), Kisan Vikas Patra (KVP), and Nationwide Saving Certificates (NSC).
This facility has been began from 23 April 2025 on India Put up Community around the nation. Previous on 6 January 2025, this facility used to be introduced to open a brand new Put up Place of business Saving Account (POSA).
Now transactions shall be accomplished with out shape
Below the brand new device, consumers can now open RD and PPF accounts. Additionally, you’ll deposit cash in them, take loans on those accounts, pay off loans and likewise withdraw from PPF. That too with none bodily shape (eg pay-in slip or withdrawal voucher).
Services and products via biometric
In line with the Division of Posts, extra services and products shall be added to it. Those come with final the account, updating nominee and switch of account.
Masked base for protection of shoppers
The Aadhaar quantity shall be hidden (masked) on all biometric transactions paperwork, reminiscent of XXX-XXX-1234. If a record is deposited with out covering, the publish place of business workforce will conceal the primary 8 issues in it with black pen or cartoon pen.
The Division of Posts has directed all publish places of work and CBS-CPC that Aadhaar quantity must be masked on each and every shape. If it is an account opening shape, KYC shape or photocopy of Aadhaar.
How will the biometric -based procedure paintings?
If the cash is being transferred from the publish place of business saving account, then that account depositor must be a unmarried or joint sort B account. In the sort of scenario, SB-7 shape is probably not required as biometric verification would have already been accomplished.