In January 2020, the Reserve Bank of India (RBI) made amendments to Know Your Customer (KYC) norms that allow Banks, fintech start-ups and lending companies to remotely complete the KYC (Know Your Customer) process through a live audio video interface. This provision has been a great boon in ensuring seamless customer experience and INDIE allows you to complete the video KYC process from the comfort of your home via a smartphone.
You can initiate the video KYC by clicking on the Video KYC option on your dashboard of the INDIE app.
Here are the differences:
|
Minimum KYC account |
Full KYC account |
Maximum Balance |
INR 100,000 |
No limits |
Account Validity |
1 year |
|
Yearly transaction limit |
INR 2 lakhs |
No constraints |
You will need the following for completing your Video KYC
You will receive approval 24-48 hours after you complete your video KYC call. Additionally, you will also receive a confirmation SMS if your KYC has been approved.
