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India Post & Nippon India Mutual Fund Join Hands to Launch Doorstep KYC Services.

Banking & Finance | Dated: 05 Apr 2025

In April 2025, India Post, functioning under the Department of Posts (DoP), entered into a Memorandum of Understanding (MoU) with Mumbai (Maharashtra)-based Nippon Life India Asset Management Limited (Nippon India Mutual Fund) to provide door-to-door Know Your Customer (KYC) verification services.

🎯 Key Highlights:

  • - This collaboration is designed to streamline the mutual fund onboarding process, particularly benefiting investors in remote and underserved areas.
  • - The MoU was signed between Manisha Bansal Badal, General Manager (GM) of the Business Development Directorate at DoP, and Sundeep Sikka, Executive Director (ED) and Chief Executive Officer (CEO) of Nippon India MF.

💡 Other Important Facts:

  • (i) The initiative utilizes India Post’s vast network of over 1.5 lakh post offices to offer accessible and seamless KYC services, especially aiding senior citizens and individuals with mobility challenges.
  • (ii) India Post has previously completed over 5 lakh KYC verifications for institutions like Unit Trust of India (UTI) and Specified Undertaking of UTI (SUUTI).
  • (iii) This initiative supports the Government of India’s Jan Nivesh campaign, which focuses on promoting financial inclusion and bridging the gap between the financially underserved population and formal financial systems.

📚 Test Your Knowledge:

Which organization has recently collaborated with Nippon India Mutual Fund to provide door-to-door KYC services for mutual fund investors?

Correct Answer: India Post

🚀 Quick Recap: