........ “Ministry of Finance has sent the letter to RBI and other regulators such as IRDA and SEBI so that a notification can be issued after which banks and other financial companies can start using e-KYC,” said the official. The person added that the letter was sent, “a couple of weeks ago.” The use of e-KYC will not only speed up linkage of bank accounts with Aadhaar for the ongoing Direct Benefits Transfer project but will also save banks huge cost incurred in document verification and storage, the official said...............
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